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Iran Divestment Act Resources

The Iran Divestment Act of 2015 (N.C.G.S. 147-86.55-69 formerly known as N.C.G.S. 143C-6A-1 to 6A-9) was signed by the Governor of North Carolina on June 29, 2015.  Effective February 26, 2016, the Act prohibits:
  • The North Carolina Retirement Systems or the Department of State Treasurer from investing funds with individuals or companies engaging in certain defined investment activities in Iran.
  • State agencies, local government units, and other political subdivisions of the State from contracting with individuals or companies on the Department of State Treasurer’s Final Divestment List. 
This page provides resources concerning the Act.

Final Divestment List

The Iran Divestment Act requires the Department of State Treasurer to publish a Final Divestment List for Iran. The list as of August 30, 2017 can be found below.

The Act indicates that “persons” subject to the Act include not only companies listed as a result of their own apparent investment activities in Iran, as listed above in the Final Divestment List, but also any “parent entity owning more than 20%” or any “majority-owned subunit or subsidiary” of that company N.C.G.S. 147-86.57 (6)c. Subsidiaries and parents of the companies listed above are found in the separate Iran Parent and Subsidiary Guidance list, which can be found below. This list can be searched using the “Find” command in Adobe Acrobat Reader, which can be accessed using the keyboard shortcut "Control-F" on Windows computers and "Command F" on Macintosh machines.
Going forward, the list will be revised and published on a quarterly basis at the end of the months of February, May, August, and November.


Educational Letters about the Act

The Department of State Treasurer is sending a series of communications about the Act to affected agencies.  These letters briefly explain the Act and walk through the steps required under the Act for government entities, vendors, and bidders.  These letters can be viewed below. 

The UNC School of Government has developed a set of Frequently Asked Questions which may be helpful to state agencies and local government units.  The FAQ can be viewed below. 

This section of the website will be updated over time as additional communications are sent.

Statute and Policy

The text of the Iran Divestment Act and the Department of State Treasurer’s Iran Divestment Policy can be viewed below.


Reports to General Assembly and to U.S. Attorney General


The Act requires annual reporting to the Governor and General Assembly.  The most recent report can be found below.

Other Divestment Policy


The Department of State Treasurer operates one other Divestment Policy concerning Sudan.  This policy can be accessed on the Department’s policy summary page here.  Please note that the Sudan Policy does not impose obligations on contracting or procurement for other state agencies, local government entities, or political subdivisions of the State.


Substantial Positive Action Exception List


General Exemptions to the Divestment list are made for companies engaged in Substantial Positive Action. The current Substantial Positive Action Exception List can be viewed below.

 

Public Notice of Potential Iran Divestment to Persons Without Known Addresses

Certain organizations, entities, and individuals are listed on the Department of State Treasurer's Potential Disclosure List under its Iran Divestment Policy because they are found on one or more Iran sanctions lists created by the United States Government’s Office of Foreign Asset Control.  The North Carolina Iran Divestment Act indicates that the Department of State Treasurer should develop the list “using federal sanctions lists and any other credible information available to the public.”  N.C.G.S. 143C-6A-4(1). 

Some of the listed persons, organizations, and entities do not have addresses listed in the information provided by the U.S. Government or the Department of State Treasurer's research data provider.  Notice under the Iran Divestment Act is being provided to those persons, organizations, and entities by written public notice on the Department of State Treasurer’s website.  Follow this link to read the public notice.