To express the policy of the United States to ensure the divestiture of United States pension plans or thrift savings plans and mutual funds sold or distributed in the United States in any bank or financial institution that directly or through a subsidiary has outstanding loans to or financial activities in the Kingdom of Saudi Arabia or its instrumentalities, and for other purposes.
Last action on Mar 27, 2006Referred to the Subcommittee on Employer-Employee Relations.
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Summary
Makes it the policy of the United States to: (1) work to ensure the divestiture by U.S. government and private pension plans or thrift savings plans and mutual funds sold or distributed in the United States of all investments in any bank or financial institution that directly or through a subsidiary has outstanding loans to or financial activities in the Kingdom of Saudi Arabia or its instrumentalities; and (2) ensure there is no such future investment.
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