Section 5-10.2-13-14 - Cessation or deferral of divestment The board, as directed by the legislative council, shall consult with the interim study committee on pension management oversight to determine whether to cease or defer divestment in the entity or product initiated under this chapter and resume investment in the entity or product during any period in which the entity or product has not returned to being a restricted entity or restricted investment product if any of the following conditions are met:
(1) The United States Secretary of State has issued a determination that the People's Republic of China is in compliance with each of the following: (A) The December 19, 1984, Joint Declaration of the Government of the United Kingdom of Great Britain and Northern Ireland and the Government of the People's Republic of China on the Question of Hong Kong.(B) The Basic Law of the Hong Kong Special Administrative Region of the People's Republic of China.(C) The Uyghur Human Rights Policy Act of 2020.(D) The December 10, 1948, Universal Declaration of Human Rights.(E) The December 19, 1966, International Covenant on Civil and Political Rights.(2) The entity or product meets or exceeds the rules and standards of the Public Company Accounting Oversight Board and the Sarbanes-Oxley Act of 2002 (Public Law 107-204).(3) The board determines that a fund has holdings in a passively managed commingled fund that includes a restricted entity and the estimated cost of divestment of the commingled fund is greater than ten percent (10%) of the total value of the restricted entities held in the commingled fund.Added by P.L. 104-2023,SEC. 1, eff. 5/1/2023.