HF 1323

as introduced - 83rd Legislature (2003 - 2004) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to state government; state board of 
  1.3             investment; regulating investments in corporations 
  1.4             doing business in France; proposing coding for new law 
  1.5             in Minnesota Statutes, chapter 11A. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  [11A.242] [INVESTMENT IN FRANCE.] 
  1.8      Subdivision 1.  [LIST OF INVESTMENTS.] By July 1 of each 
  1.9   year, the state board shall: 
  1.10     (1) compile a list of corporations that, directly or 
  1.11  through a subsidiary, do business in France and in whose stocks 
  1.12  or obligations the board invested under section 11A.24, 
  1.13  subdivision 3 or 5; and 
  1.14     (2) upon a determination by the United Nations, or other 
  1.15  organization with jurisdiction over international arms sales, 
  1.16  that France has violated any international prohibitions on the 
  1.17  sale of weapons to Iraq, dispose of the stocks and obligations 
  1.18  listed pursuant to clause (1).  
  1.19     Sec. 2.  [EFFECTIVE DATE.] 
  1.20     Section 1 is effective the day following final enactment.