Tex. Gov't Code § 2270.0204 · Subchapter E. DUTIES REGARDING INVESTMENTS
ACTIONS RELATING TO LISTED COMPANY ENGAGED IN ACTIVE BUSINESS OPERATIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) For each listed company identified under Section 2270.0202 that is engaged in scrutinized active business operations, the investing entity shall send a written notice informing the company of its listed company status and warning the company that it may become subject to divestment by investing entities.
(b) The notice shall offer the company the opportunity to clarify its Sudan-related, Iran-related, or designated foreign terrorist organization-related activities, as applicable, and shall encourage the company, not later than the 90th day after the date the company receives notice under this section, to either cease all scrutinized business operations as described by Sections 2270.0052, 2270.0102, and 2270.0152, or convert such operations to inactive business operations in order to avoid qualifying for divestment by investing entities.
(c) If, during the time provided by Subsection (b), the company ceases scrutinized business operations described by that subsection, the comptroller shall remove the company from the list of scrutinized companies and this chapter will no longer apply to the company unless it resumes scrutinized business operations.
(d) If, during the time provided by Subsection (b), the company converts its scrutinized active business operations to inactive business operations, the company is subject to all provisions of this chapter relating to inactive business operations.
(e) If, after the time provided by Subsection (b) expires, the listed company continues to have scrutinized active business operations, the investing entity shall sell, redeem, divest, or withdraw all publicly traded securities of the company, except securities described by Section 2270.0207, according to the schedule provided by Section 2270.0206.
Notes and commentary — not statutory text
History
Added by Acts 2007, 80th Leg., R.S., Ch. 1375 (S.B. 247), Sec. 2, eff. January 1, 2008.
Transferred, redesignated and amended from Government Code, Chapter 806 by Acts 2017, 85th Leg., R.S., Ch. 96 (S.B. 253), Sec. 4, eff. May 23, 2017.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.2270.htm
- Text hash
- sha256 26634434e7fe9cada8c1bb2cdd10d8c1c29d6a69e91ac7534a43914ee19696fa
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Government Code
- Tex. Gov't Code § 2270.0052SCRUTINIZED BUSINESS OPERATIONS IN SUDAN.Printed as Sections 2270.0052, 2270.0102, and 2270.0152
- Tex. Gov't Code § 2270.0102SCRUTINIZED BUSINESS OPERATIONS IN IRAN.Printed as Sections 2270.0052, 2270.0102, and 2270.0152
- Tex. Gov't Code § 2270.0152SCRUTINIZED BUSINESS OPERATIONS WITH DESIGNATED FOREIGN TERRORIST ORGANIZATION.Printed as Sections 2270.0052, 2270.0102, and 2270.0152
- Tex. Gov't Code § 2270.0202IDENTIFICATION OF INVESTMENT IN LISTED COMPANIES.Printed as Section 2270.0202
- Tex. Gov't Code § 2270.0206DIVESTMENT OF ASSETS.Printed as Section 2270.0206
- Tex. Gov't Code § 2270.0207INVESTMENTS EXEMPTED FROM DIVESTMENT.Printed as Section 2270.0207
Cited by 1 provision
Provisions in this library whose text cites Tex. Gov't Code § 2270.0204. Each shows the citation as that text prints it.
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