NRS 355.345 Additional duties of State Treasurer relating to investments in scrutinized companies; actions to be consistent with fiduciary responsibility.
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NRS 355.345 Additional duties of State Treasurer relating to investments in scrutinized companies; actions to be consistent with fiduciary responsibility.
1. Except as otherwise provided in subsection 2, the State Treasurer:
(a)Shall sell, redeem, divest or withdraw all direct holdings of a scrutinized company from the assets under his or her management within 3 months after preparing a list of scrutinized companies pursuant to NRS 355.335 which includes that scrutinized company.
(b)Shall, on or before June 30 of each year, post on the Internet website of the State Treasurer a list that includes each investment that was sold, redeemed, divested or withdrawn pursuant to subsection 1.
(c)Shall not acquire securities of a scrutinized company as part of the direct holdings of the Office of the State Treasurer.
(d)Shall request that the manager of the indirect holdings of any public fund consider selling, redeeming, divesting or withdrawing holdings of a scrutinized company from the assets under his or her management.
2. Nothing in this section shall require the State Treasurer to take action as described in this section unless the State Treasurer determines and adopts findings, in good faith and based on credible information available to the public, that the action described in this section is consistent with the fiduciary responsibilities of the State Treasurer.