Ark. Code § 25-1-1005

Current with legislation from 2024 Fiscal and Special Sessions.
Section 25-1-1005 - Sources of information
(a) In determining whether or not to include a financial services provider on a list under § 25-1-1006, the ESG Oversight Committee shall consider and may rely upon the following information:
(1) A financial services provider's certification that it is not engaged in discrimination against a business that provides services or products to the energy, fossil fuel, firearms, or ammunition industries, and has not discriminated without a reasonable business purpose against a business based on the use of environmental, social justice, or governance-related factors;
(2) Statements or information made publicly available by the financial services provider's governing body, an executive director of a financial services provider, or any other officer or employee of the financial services provider with the authority to issue policy statements on behalf of the financial services provider; and
(3) Information published by a state or federal government entity.
(b) In determining whether or not to include a financial services provider on a list under § 25-1-1006, the ESG Oversight Committee may consider various factors including the following but shall not make a determination based solely on the following:
(1) Statements or complaints by an energy, fossil fuel, firearms, or ammunition company; or
(2) Media reports of any investment adviser or financial services provider's boycott of energy, fossil fuel, firearms, or ammunition companies.
(c) A financial services provider shall not be compelled to produce or disclose any data or information deemed confidential, privileged, or otherwise protected from disclosure by state or federal law.

Ark. Code § 25-1-1005

Amended by Act 2023, No. 760,§ 1, eff. 8/1/2023.
Added by Act 2023, No. 411,§ 1, eff. 8/1/2023.