PRINTER'S NO. 148
No. 137 Session of 1989
INTRODUCED BY RICHARDSON, MANDERINO, LINTON, KUKOVICH, EVANS,
FEE, ACOSTA, CARN, HARPER, HUGHES, OLIVER, PRESTON, ROBINSON,
ROEBUCK, BISHOP, WILLIAMS, THOMAS, McHALE, JAMES, PISTELLA,
TIGUE, BLAUM, KOSINSKI, CAWLEY, JOSEPHS, RITTER, LEVDANSKY,
COLAIZZO, FREEMAN, PRESSMANN, COWELL AND TRICH, JANUARY 25,
1989
REFERRED TO COMMITTEE ON FINANCE, JANUARY 25, 1989
AN ACT
1 Amending Title 24 (Education) of the Pennsylvania Consolidated
2 Statutes, prohibiting investments in corporations doing
3 business in the Republic of South Africa and Namibia.
4 The General Assembly of the Commonwealth of Pennsylvania
5 hereby enacts as follows:
6 Section 1. Title 24 of the Pennsylvania Consolidated
7 Statutes is amended by adding a section to read:
8 § 8526. Prohibited investments.
9 (a) Republic of South Africa and Namibia.--The board shall
10 not invest any of the fund in any stock or obligation of any
11 corporation doing business, either by itself or through any
12 subsidiary or affiliate, in the Republic of South Africa and
13 Namibia.
14 (b) Divestment.--The board shall divest itself of any
15 investment as described in subsection (a) within one year of the
16 effective date of this section.
1 Section 2. This act shall take effect immediately.
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