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§ 3502. Engaging in investment activities

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 62 Pa.C.S.A. ProcurementEffective: July 1, 2015

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 62 Pa.C.S.A. Procurement (Refs & Annos)
Part II. General Procurement Provisions (Refs & Annos)
Chapter 35. Iran-Free Procurement (Refs & Annos)
Effective: July 1, 2015
62 Pa.C.S.A. § 3502
§ 3502. Engaging in investment activities
Currentness
A person or financial institution engages in an investment activity by doing any of the following:
(1) Providing goods or services worth at least $20,000,000, including oil tankers or transporters and liquefied natural gas tankers or transporters, to the energy-related activities of Iran, or products used to construct or maintain pipelines used to transport oil or liquefied natural gas for the energy sector of Iran.
(2) Extending at least $20,000,000 in credit to a person for 45 days or more if all of the following apply:
(i) The person uses the credit to provide goods or services to the energy sector in Iran.
(ii) The person is, at the time the financial institution or person extends credit, identified on a list created under section 3503 (relating to list of persons engaged in investment activities).

Credits

2014, Oct. 21, P.L. 2517, No. 149, § 3, effective July 1, 2015.
62 Pa.C.S.A. § 3502, PA ST 62 Pa.C.S.A. § 3502
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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