Government Code § 2270.02035

Sec. 2270.02035. ACTIONS RELATED TO LISTED COMPANY OWNED OR CONTROLLED BY OR LOCATED IN COUNTRY OF CONCERN. (a) For each listed company identified under Section 2270.0202 that is a scrutinized company under Section 2270.0124, the investing entity shall send a written notice informing the company of its listed company status and warning the company that it may become subject to divestment by investing entities. (b) The notice shall offer the company the opportunity to, not later than the 90th day after the date the company receives notice under this section, change its organizational or ownership structure or location so as to not be a scrutinized company as described by Section 2270.0124 in order to avoid qualifying for divestment by investing entities. (c) If, during the time provided by Subsection (b), the company makes any applicable changes required by that subsection, the comptroller shall remove the company from the list of scrutinized companies and this chapter will no longer apply to the company unless the company later again becomes a scrutinized company as described by Section 2270.0124. (d) Notwithstanding Section 2270.0207, if, after the time provided by Subsection (b) expires, the listed company continues to operate as a scrutinized company as described by Section 2270.0124, the investing entity shall sell, redeem, divest, or withdraw all publicly traded securities of the company, except private equity funds described by Section 2270.0207, according to the schedule provided by Section 2270.0206. Added by Acts 2025, 89th Leg., R.S., Ch. 362 (H.B. 34), Sec. 5, eff. September 1, 2025.