Louisiana § RS 11:312 - Application, definitions

§ RS 11:312. Application, definitions

A.  The provisions of this Subpart shall apply to the following public retirement or pension systems, plans, or funds:

(1)  Assessors' Retirement Fund.

(2)  Clerks' of Court Retirement and Relief Fund.

(3)  District Attorneys' Retirement System.

(4)  Firefighters' Retirement System.

(5)  Louisiana School Employees' Retirement System.

(6)  Louisiana State Employees' Retirement System.

(7)  Municipal Police Employees' Retirement System.

(8)  Municipal Employees' Retirement System of Louisiana.

(9)  Parochial Employees' Retirement System of Louisiana.

(10)  Registrars of Voters Employees' Retirement System.

(11)  Sheriffs' Pension and Relief Fund.

(12)  Louisiana State Police Retirement System.

(13)  Teachers' Retirement System of Louisiana.

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

(1)  "Company" means any foreign domiciled or based entity, real or juridical, which is not a subsidiary of nor owned in whole or in part by any domestic company, and which is engaged in an enterprise for financial gain.

(2)  "Prohibited nation" means Iran, North Korea, Sudan, or Syria.

C.(1)  Each system or fund to which this Subpart applies shall provide semiannual written reports to the House of Representatives and Senate committees on retirement regarding any investments of that system in any company having facilities or employees or both located in a prohibited nation.  The report shall include the name of each such company, the asset allocation class and sector to which it belongs pursuant to the board's asset allocation policy, and the amount of system funds invested therein.

(2)  The first report shall be due October 31, 2005, and shall contain information for the six-month period ending September 15, 2005.  The second report shall be due August 15, 2006, and shall contain information for the period from September 16, 2005 through June 30, 2006.  Beginning February 15, 2007, and thereafter, reports shall be due by the fifteenth day of February, containing information for the six-month period ending December thirty-first, and by the fifteenth of August, containing information for the six-month period ending June thirtieth in each calendar year.

(3)  Each system's money managers shall be responsible for supplying to the system all information necessary to complete the reports in a timely manner as required by this Subsection.

D.  Each system shall adopt rules necessary to implement the provisions of this Subpart, including the provisions of Paragraph (C)(3) of this Section.

Acts 2005, No. 9, §1, eff. May 27, 2005; Acts 2007, No. 352, §1; Acts 2012, No. 227, §1.