District Of Columbia § 1-335.03 - Required actions.
Full text of District Of Columbia D.C. Code § 1-335.03 — Required actions., with citation guidance and answers to common questions.
§ 1-335.03. Required actions.
1-335.03Except as provided in subsections (c), (d), and (e) of this section, during the period that a company on the scrutinized Company List has Active Business Operations, the Public Fund shall sell, redeem, divest, or withdraw all publicly-traded securities of the company according to the following schedule:
At least 50% of the assets shall be removed from the Public Fund’s assets under management by 6 months after the company’s most recent appearance on the Scrutinized Companies List.
All of such assets shall be removed from the Public Fund’s assets under management within 12 months after the company’s most recent appearance on the Scrutinized Companies List.
Except as provided in subsections (c), (d), and (e) of this section, the Public Fund shall not acquire securities of companies on the Scrutinized Companies List that have Active Business Operations.
A company which the United States government affirmatively declares to be excluded from its present or any future federal sanctions regime relating to Sudan shall not be subject to the divestment or investment prohibition of subsections (a) and (b) of this section.
Notwithstanding anything herein to the contrary, subsections (a) and (b) of this section shall not apply to Indirect Holdings in actively-managed investment funds; provided, that the Public Fund shall submit letters to the managers of actively-managed investment funds containing companies with Scrutinized Active Business Operations requesting that they consider removing such companies from the fund or create a similar actively-managed fund with Indirect Holdings devoid of such companies; provided further, that if the manager creates a similar fund, the Public Fund shall replace all applicable investments with investments in the similar fund in an expedited time period consistent with prudent investing standards. For the purposes of this section, private equity funds shall be deemed to be actively-managed investment funds.
Notwithstanding the foregoing, the District of Columbia Retirement Board shall comply with the requirements of this part only to the extent consistent with:
Its fiduciary duties under Chapters 7 and 9 of this title [ et seq. and et seq.]; and
Section 5 of the Sudan Accountability and Divestment Act of 2007, approved December 31, 2007 (121 Stat. 2516; 50 U.S.C. § 1701, note).
Annotations
Source: official District Of Columbia text · Last verified 2026-08-27
Frequently Asked Questions About District Of Columbia § 1-335.03
What does D.C. Code § 1-335.03 cover?
Section 1-335.03 ("Required actions.") is part of the D.C. Code, the codified statutory law of District Of Columbia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite District Of Columbia § 1-335.03?
A common citation format is "D.C. Code § 1-335.03" (District Of Columbia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of District Of Columbia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the District Of Columbia official source linked on this page or consult a licensed District Of Columbia attorney.
How does District Of Columbia § 1-335.03 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in District Of Columbia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in District Of Columbia.