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Florida Statutes Title XIV. Taxation and Finance § 215.471. Divestiture by the State Board of Administration;  reporting requirements

Current as of January 01, 2023 | Updated by FindLaw Staff

(1) The State Board of Administration shall divest any investment under s. 121.151 and ss. 215.44-215.53, and is prohibited from investment in stocks, securities, or other obligations of:

(a) Any institution or company domiciled in the United States, or foreign subsidiary of a company domiciled in the United States, doing business in or with Cuba, or with agencies or instrumentalities thereof in violation of federal law.

(b) Any institution or company domiciled outside of the United States if the President of the United States has applied sanctions against the foreign country in which the institution or company is domiciled pursuant to s. 4 of the Cuban Democracy Act of 1992.

(2) The State Board of Administration may not be a fiduciary under this section with respect to voting on, and may not have the right to vote in favor of, any proxy resolution advocating expanded United States trade with Cuba or Syria.  The board's staff shall report on its activities in its annual proxy voting report.

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Cite this article: FindLaw.com - Florida Statutes Title XIV. Taxation and Finance § 215.471. Divestiture by the State Board of Administration;  reporting requirements - last updated January 01, 2023 | https://codes.findlaw.com/fl/title-xiv-taxation-and-finance/fl-st-sect-215-471/

Read this complete Florida Statutes Title XIV. Taxation and Finance § 215.471. Divestiture by the State Board of Administration;  reporting requirements on Westlaw

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