1. (a) Each fund (before July 1, 2011) or the board shall send to each scrutinized company:

   1. (1) that is identified under section 18 of this chapter as one in which a fund has direct or indirect holdings; and

   2. (2) that has active business operations;

      a written notice concerning the contents of this chapter and a statement indicating that a fund's holdings in the company may become subject to divestment by the fund (before July 1, 2011) or system.

2. (b) A notice sent under this section must:

   1. (1) offer the company the opportunity to clarify the company's state sponsor of terror related activities; and

   2. (2) encourage the company to:

      1. (A) cease its scrutinized business operations; or

      2. (B) convert the company's operations to inactive business operations in order to avoid divestment by the fund (before July 1, 2011) or system of a fund's holdings in the company;

         not later than one hundred eighty (180) days after the date of the notice.

As added by P.L.67-2009, SEC.1. Amended by P.L.35-2012, SEC.73.