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Texas Statutes (Last Updated: January 4, 2014) |
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GOVERNMENT CODE |
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Title 8. PUBLIC RETIREMENT SYSTEMS |
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Subtitle A. PROVISIONS GENERALLY APPLICABLE TO PUBLIC RETIREMENT SYSTEMS |
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Chapter 806. PROHIBITION ON INVESTMENT IN SUDAN |
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Subchapter A. GENERAL PROVISIONS |
Sec. 806.002. SCRUTINIZED BUSINESS OPERATIONS
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A company engages in scrutinized business operations if:
(1) the company has business operations that involve contracts with or providing supplies or services to the Government of Sudan, a company in which the Government of Sudan has any direct or indirect equity share, a Government of Sudan-commissioned consortium or project, or a company involved in a Government of Sudan-commissioned consortium or project, and:
(A) more than 10 percent of the company's revenues or assets linked to Sudan involve oil-related activities or mineral extraction activities, less than 75 percent of the company's revenue or assets linked to Sudan involve contracts with or provision of oil-related or mineral extracting products or services to the regional government of southern Sudan or a project or consortium created exclusively by that regional government, and the company has failed to take substantial action; or
(B) more than 10 percent of the company's revenue or assets linked to Sudan involve power production activities, less than 75 percent of the company's power production activities include projects whose intent is to provide power or electricity to the marginalized populations of Sudan, and the company has failed to take substantial action; or
(2) the company supplies military equipment in Sudan, unless:
(A) the company clearly shows that the military equipment cannot be used to facilitate offensive military actions in Sudan; or
(B) the company implements rigorous and verifiable safeguards to prevent use of that equipment by forces actively participating in armed conflict, including:
(i) using post-sale tracking of the equipment by the company;
(ii) obtaining certification from a reputable and objective third party that the equipment is not being used by a party participating in armed conflict in Sudan; or
(iii) selling the equipment solely to the regional government of southern Sudan or any internationally recognized peacekeeping force or humanitarian organization.