Louisiana Revised Statutes Tit. 11, § 316. Terror-free fund

A. As used in this Section, the following terms shall have the following meaning unless a different meaning is clearly required by the context:

B. Each system or fund to which this Subpart applies that has an investment strategy which includes allocation to international markets shall communicate with investment managers with international investment experience for the establishment of an international terror-free fund. The communication shall stipulate that, as part of managing such fund, the manager shall replace the screened equities with comparable terror-free equities, sell the screened equities, or adjust the weighting of remaining equities held in a system's portfolio. Each system having an investment strategy which includes allocation to international markets shall allocate a portion of its international investments to such terror-free fund.

C. If a system having an investment strategy which includes allocation to international markets does not possess sufficient assets to meet the minimum investment required by the manager to create a terror-free fund on the system's behalf alone, such system shall join an existing terror-free fund established pursuant to this Section or shall join with another system to meet such minimum investment requirements for the purpose of establishing a terror-free fund common to those systems.

D. Each system shall adopt rules necessary to implement the provisions of this Section.

E. Each system shall report compliance with this Section to the House of Representatives and Senate committees on retirement as part of the report submitted pursuant to R.S. 11:312(C).

F. Nothing in this Section shall require a system to invest in international markets unless otherwise part of the investment strategy adopted by the system. If a system invests in international markets and utilizes collective funds or index funds for such purpose, this Section shall apply.