IC 5-22-16.5-8: Activities that qualify as engaging in investment activities in Iran; exception

Sec. 8. (a) For purposes of this chapter, a person engages in investment activities in Iran if either of the following is true:

(1) The person provides goods or services of twenty million dollars ($20,000,000) or more in value in the energy sector of Iran, including providing any of the following for the energy sector of Iran:

(A) Oil or liquified natural gas tankers.

(B) Products used to construct or maintain pipelines used to transport oil or liquified natural gas.

(2) The person is a financial institution that extends twenty million dollars ($20,000,000) or more in credit to another person, for forty-five (45) days or more, if that other person:

(A) will use the credit to provide goods or services in the energy sector in Iran; and

(B) is, at the time the financial institution extends credit, a person identified on the list as a person engaging in investment activities in Iran under subdivision (1).

(b) A person's investment contract with the Indiana public retirement system may not be used as the basis for making a determination under this chapter that the person is engaged in investment activities in Iran.