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Ch. 39
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2007 Laws of Maryland
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(3) (i) if within 90 days of receipt of the
correspondence described in paragraph (2)(I) of this subsection, a
company ceases scrutinized business operations, the company shall
be removed from the board of trustees' list of scrutinized
companies and the provisions of this subtitle shall cease to apply
to it unless it resumes scrutinized business operations.
(h) if within 90 days of receipt of the
correspondence described in paragraph (2)(l) of this subsection, a
company converts its scrutinized active business operations to
inactive business operations, the compact shall be subject to all
provisions in this subtitle as they relate to scrutinized companies.
(c) (1) Except as provided in paragraph (2) of this
subsection, if, on the 91st day of receipt of the correspondence
described under subsection (b)(2)(i) of this section, the company
continues to have scrutinized active business operations, the board
of trustees shall sell, redeem, divest, or withdraw all publicly
traded securities of the compact according to the following
schedule:
(i) at least 50% of all assets held in the company
by the board of trustees shall be removed as assets under
management within 9 months after the company's most recent
appearance on the board of trustees' list of scrutinized companies;
and
(h) 100% of all assets held in the company by the
Board of Trustees shall be removed as assets under management
within 15 months after the company's most recent appearance on the
Board of Trustees' list of scrutinized companies,
(2) (i) If a compact that ceased scrutinized active
business operations following receipt of correspondence under
subsection (b)(2)(i) of this section resumes scrutinized active
business operations, paragraph (1) of this subsection shall apply
immediately.
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(h) The Board of Trustees shall send written
notice to a company described under subparagraph (i) of this
paragraph that the compact has been placed on the board of
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-834-
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