South Carolina Code 11-57-700. Prohibition of fund investment with person identified on list created pursuant to Section 11-57-310; divestment
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(A) Neither the Retirement System Investment Commission or the State Treasurer may invest funds with a person that is identified on a list created pursuant to § 11-57-310 as a person engaging in investment activities in Iran as described in § 11-57-300.
(B) Any existing investments in violation of subsection (A) as of the effective date of this act, must be divested within one hundred twenty days of the effective date of this act.
Terms Used In South Carolina Code 11-57-700
- Investment: means a commitment or contribution of funds or property, whatever the source, a loan or other extension of credit, and the entry into or renewal of a contract for goods or services. See South Carolina Code 11-57-30
- Iran: includes the Government of Iran and any agency or instrumentality of Iran. See South Carolina Code 11-57-30
- Person: means any of the following:
(a) a natural person, corporation, company, limited liability company, business association, partnership, society, trust, or any other nongovernmental entity, organization, or group;
(b) any governmental entity or instrumentality of a government, including a multilateral development institution, as defined in Section 1701(c)(3) of the International Financial Institutions Act (22 U. See South Carolina Code 11-57-30