Texas § GV.808.053 - ACTIONS RELATING TO LISTED COMPANY

§ GV.808.053. ACTIONS RELATING TO LISTED COMPANY

ACTIONS RELATING TO LISTED COMPANY. (a) For each listed company identified under Section 808.052 , the state governmental entity shall send a written notice: (1) informing the company of its status as a listed company; (2) warning the company that it may become subject to divestment by state governmental entities after the expiration of the period described by Subsection (b); and (3) offering the company the opportunity to clarify its Israel-related activities. (b) Not later than the 90th day after the date the company receives notice under Subsection (a), the company must cease boycotting Israel in order to avoid qualifying for divestment by state governmental entities. (c) If, during the time provided by Subsection (b), the company ceases boycotting Israel, the comptroller shall remove the company from the list maintained under Section 808.051 and this chapter will no longer apply to the company unless it resumes boycotting Israel. (d) If, after the time provided by Subsection (b) expires, the company continues to boycott Israel, the state governmental entity shall sell, redeem, divest, or withdraw all publicly traded securities of the company, except securities described by Section 808.055 , according to the schedule provided by Section 808.054 . Added by Acts 2017, 85th Leg., R.S., Ch. 1 (H.B. 89 ), Sec. 2, eff. September 1, 2017.