(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 lude 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.Amended by Act 2023, No. 760,§ 1, eff. 8/1/2023.Added by Act 2023, No. 411,§ 1, eff. 8/1/2023.
Arkansas Legal Code