Section 129.300 - Applicability of act; dates; extension.
DIVESTMENT FROM TERROR ACT (EXCERPT)
Act 234 of 2008
129.300 Applicability of act; dates; extension.
Sec. 10.
(1) If a state sponsor of terror is any of the following countries, then, except as provided in subsection (2), the provisions of this act begin to apply on the following dates:
(a) Syria, January 1, 2010.
(b) Cuba, January 1, 2011.
(c) Any other country, 12 months following the determination by the United States secretary of state.
(2) The state treasurer may extend, not more than 2 times, 1 or more of the dates in which the provisions of this act apply that are described in subsection (1) for 1 year if the state treasurer determines 1 or more of the following:
(a) The constitutionality of the divestment provisions of this act are in conflict with federal law.
(b) The department of treasury is not able to gather sufficient information to prepare an accurate scrutinized companies list.
History: 2008, Act 234, Imd. Eff. July 17, 2008