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Martin O'Malley, Governor Ch. 39
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WHEREAS, Despite significant pressure from the United States government,
the Republic of Sudan fails to take necessary actions to disassociate itself from its ties
to terrorism and genocide: and
WHEREAS, Companies facing such widespread divestment supporting such ties
with terrorism and genocide present further material risk to remaining investors of
these companies: and
WHEREAS, It is a fundamental responsibility of the State to decide where, how,
and by whom financial resources in its control should be invested, taking into account
numerous pertinent factors; and
WHEREAS, It is the prerogative and desire of the State, in respect to
investment resources in its control and to the extent reasonable, with due
consideration for, among other things, return on investment, on behalf of itself and its
investment beneficiaries, not to participate in an ownership or capital-providing
capacity with entities that provide significant practical support for genocide, including
certain international companies presently doing business in Sudan; and
WHEREAS, It is the judgment of the General Assembly that this Act should
remain in effect only insofar as it continues to be consistent with, and does not unduly
interfere with, the foreign policy of the United States as determined by the federal
government; and
WHEREAS, It is the judgment of the General Assembly that mandatory
divestment of public funds from certain companies is a measure that should be
employed sparingly and judiciously - a United States Congressional and Presidential
declaration of genocide satisfying this high threshold; now, therefore,
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - State Personnel and Pensions
Subtitle 1A. Divestment from the Republic of Sudan.
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21-1A-01.
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(A) IN THIS SUBTITLE THE FOLLOWING WORDS HAVE THE MEANINGS
INDICATED.
(B) "ACTIVE BUSINESS OPERATIONS" MEANS ALL BUSINESS
OPERATIONS THAT ARE NOT INACTIVE BUSINESS OPERATIONS.
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- 827 -
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