Terms used in §§ 4-5-48 to 4-5-60, inclusive, mean: (1)"Active business operations," all business operations that are not inactive business6 operations; (2)"Company," any sole proprietorship, organization, association, corporation, partnership, joint venture, limited partnership, limited liability partnership, limited9 liability company, or other entity or business association, including all wholly owned10 subsidiaries, majority-owned subsidiaries, parent companies, or affiliates of such11 entities or business associations, that exists for profit-making purposes; (3)"Direct holdings," all publicly traded debt and equity securities of a company that are13 held directly by the State Investment Council or held in an account or fund in which14 100 copies were printed on recycled paper by the South DakotaLegislative Research Council at a cost of $.167 per page.v Insertions into existing statutes are indicated by underscores.Deletions from existing statutes are indicated by overstrikes. - 2 -HB 1206 the State Investment Council owns all shares or interests; (4)"Government of Iran," the government of the Islamic Republic of Iran or its2 instrumentalities or political subdivisions and companies owned or controlled by the3 Islamic Republic of Iran; (5)"Inactive business operations," the continued holding or renewal of rights to property5 previously operated for the purpose of generating revenues but not presently6 deployed for such a purpose; (6)"Indirect holdings," all investments held in an account or fund, including a mutual8 fund, a real estate fund, a private equity fund, or a commingled fund, managed by one9 or more persons who are not employed by the State Investment Council, in which the10 public funds own shares or interests together with other investors who are not subject11 to §§ 4-5-48 to 4-5-60, inclusive; (7)"Scrutinized company," any company engaging in scrutinized business operations; (8)"Scrutinized business operations," all active business operations that are subject or14 liable to sanctions under Public Law 104-172, as amended, the Iran Sanctions Act of15 1996, and that involve the maintenance of a company's existing assets or investments16 in Iran, or the deployment of new investments to Iran that meet or exceed the twenty17 million dollar threshold referred to in Public Law 104-172, as amended, the Iran18 Sanctions Act of 1996, and that have economic prohibitions against Israel. The term19 does not include the retail sale of gasoline and related products; (9)"Substantial action specific to Iran," adopting, publicizing, and implementing a21 formal plan to cease scrutinized business operations within one year and to refrain22 from any such new business operations.