State Codes and Statutes

Statutes > Connecticut > Title3 > Chap032 > Sec3-13h

      Sec. 3-13h. Disinvestment of state funds invested in corporations doing business in Northern Ireland which have not implemented the MacBride principles. (a) The State Treasurer shall review the major investment policies of the state for the purpose of determining the extent to which moneys are invested in corporations doing business in Northern Ireland which have not adopted the MacBride principles. In whatever manner may be deemed appropriate by the State Treasurer, corporations in which the state has invested assets and which have operations in Northern Ireland shall be urged to adopt and implement the MacBride principles with respect to such operations and where necessary and appropriate to initiate or support shareholder initiatives requiring such corporate action.

      (b) In carrying out his fiduciary responsibility, the State Treasurer shall, within a period of time not exceeding three years immediately following May 18, 1987, disinvest all state funds currently invested in any corporations doing business in Northern Ireland and invest no new state funds in any such corporation unless such corporation has implemented the MacBride principles. In accordance with sound investment criteria consistent with prudent standards of fiduciary responsibility, the State Treasurer shall, with respect to state funds available for future investment in corporations doing business in Northern Ireland, including such funds available as a result of such disinvestment as prescribed in this subsection, invest such funds in corporations conducting their operations in Northern Ireland in accordance with the MacBride principles, which are as follows: (1) Increasing the representation of individuals from underrepresented religious groups in the workforce, including managerial, supervisory, administrative, clerical and technical jobs; (2) providing adequate security for the protection of minority employees at the workplace and while traveling to and from work; (3) banning provocative religious or political emblems from the workplace; (4) publicly advertising all job openings and making special recruitment efforts to attract applicants from underrepresented religious groups; (5) layoff, recall and termination procedures which do not in practice favor particular religious groupings; (6) abolishing job reservations, apprenticeship restrictions and differential employment criteria, which discriminate on the basis of religion or ethnic origin; (7) developing training programs that will prepare substantial numbers of current minority employees for skilled jobs, including the expansion of existing programs and the creation of new programs to train, upgrade and improve the skills of minority employees; (8) establishing procedures to assess, identify and actively recruit minority employees with potential for further advancement; and (9) appointing a senior management staff member to oversee the company's affirmative action efforts and the setting up of timetables to carry out affirmative action principles.

      (P.A. 87-199, S. 1, 2; P.A. 95-345, S. 1, 2; P.A. 96-180, S. 136, 166.)

      History: P.A. 95-345 amended Subsec. (b) by deleting the words "adopted and" from the phrase "such corporation has adopted and implemented the MacBride principles", effective July 1, 1995; P.A. 96-180 amended Subsec. (b) to make technical grammatical corrections, effective June 3, 1996.

      See Secs. 3-13g and 3-21e re investments in corporations doing business in Iran and Sudan, respectively.