Section 355.505 - Initial identification of scrutinized company; notice; written response; effect of failure to file response; determination on response1. Upon reviewing publicly available information regarding companies which are engaging in a boycott of Israel, the State Treasurer will initially identify any company in which a public fund has direct holdings or indirect holdings that appears to be a scrutinized company.2. Within 30 days after the date on which the State Treasurer initially identifies a company as a scrutinized company pursuant to subsection 1, the State Treasurer will provide written notice to the company of that initial identification. Such notice will be sent by registered mail to the legal address of the company and will include, without limitation:(a) A statement of the reasons why the State Treasurer initially identified the company as a scrutinized company;(b) Notice that final identification of the company as a scrutinized company will result in inclusion of the company on the list of all scrutinized companies created pursuant to subsection 2 of NRS 355.335; and(c) Notice that inclusion of the company on the list of all scrutinized companies created pursuant to subsection 2 of NRS 355.335 may: (1) Result in the sale, redemption, divestment or withdrawal of all direct holdings of the company by the State Treasurer from the assets under his or her management; and(2) Prohibit the State Treasurer from acquiring securities of the company as part of the direct holdings of the Office of the State Treasurer.3. Within 30 days after the date on which a company receives notice pursuant to subsection 2, the company may submit a written response to the notice by registered mail to the Office of the State Treasurer. The response may include, without limitation: (a) An explanation regarding or rebuttal to the statement in the notice described in paragraph (a) of subsection 2; or(b) Evidence that the company has ceased to engage in any activity specified in the statement in the notice described in paragraph (a) of subsection 2.4. If a company fails to respond within the period and in the manner prescribed in subsection 3, the company will be deemed to have admitted to being a scrutinized company and will be placed on the list of scrutinized companies when the list is next updated pursuant to subsection 3 of NRS 355.335.5. Within 90 days after the date on which a response is received from a company pursuant to subsection 3, the State Treasurer will make a determination concerning the identification of a company as a scrutinized company. Notice of the determination will be sent by registered mail to the legal address of the company.Nev. Admin. Code § 355.505
Added to NAC by St. Bd. of Finance by R141-18A, eff. 8/21/2019