AB 1410 (Nazarian) – Public Divestiture of Turkish Investment Vehicles

Assembly Bill

Seeks to encourage the government of Turkey to acknowledge, and to reach resolution on reparations for survivors of, the Armenian Genocide by requiring the CalSTRS and CalPERS boards to divest of any investment vehicle issued by, owned, controlled or managed by the government of Turkey.  Requires these boards, on or before January 1, 2017, and annually thereafter, to report to the Legislature any investments in a Turkish investment vehicle and the sale or transfer of those investments, subject to the fiduciary duty of these boards.  Also indemnifies from the General Fund and holds harmless the present, former and future board members, officers and employees of and investment managers under contract with those retirement systems.  

  • Version: Introduced 2/27/2015
  • Sponsor: Armenian National Committee of America – Western Region
  • Location: Assembly Appropriations
  • Board Position: Oppose 

CalSTRS Analysis:

As Introduced 2/27/2015


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