PRINTER'S NO. 2884
No. 2154 Session of 2001
INTRODUCED BY CALTAGIRONE, HASAY, PERZEL, MUNDY, M. BAKER, BARD,
BELFANTI, BENNINGHOFF, CAPPELLI, CREIGHTON, CURRY, DALLY,
DeLUCA, FAIRCHILD, FICHTER, FREEMAN, GANNON, GEIST, GEORGE,
HARHAI, HENNESSEY, HERSHEY, HESS, KELLER, KENNEY, PHILLIPS,
ROBERTS, RUBLEY, SATHER, SCHRODER, SCRIMENTI, SEMMEL, SHANER,
B. SMITH, SOLOBAY, R. STEVENSON, T. STEVENSON, STURLA, SURRA,
TANGRETTI, E. Z. TAYLOR, TRICH, WATSON, WILT, G. WRIGHT AND
YOUNGBLOOD, NOVEMBER 15, 2001
REFERRED TO COMMITTEE ON COMMERCE AND ECONOMIC DEVELOPMENT,
NOVEMBER 15, 2001
AN ACT
1 Prohibiting investments in, deposits from or loans to countries
2 identified as sponsors of terrorism.
3 The General Assembly of the Commonwealth of Pennsylvania
4 hereby enacts as follows:
5 Section 1. Prohibition of investments in, loans to and deposits
6 from countries identified as sponsors of
7 terrorism and corporations doing business in such
8 countries.
9 No banking institution or investment company subject to
10 regulation by the Commonwealth shall:
11 (1) Invest funds in any stock or obligation of any
12 corporation doing business, either by itself or through any
13 subsidiary or affiliate, in any country identified by the
14 United States Department of State as a sponsor of foreign
1 terrorist organizations.
2 (2) Accept deposits from or make loans to any country
3 identified by the United States Department of State as a
4 sponsor of foreign terrorist organizations or to any
5 partnership, association, corporation or other organization,
6 group or subgroup identified by the President of the United
7 States or any agency of the United States as a foreign
8 terrorist organization, or to any person identified as
9 belonging to such an organization.
10 Section 2. Effective date.
11 This act shall take effect immediately.
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