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Companies To Be Put On Notice About Law On Iran

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ANNAPOLIS, Md. (AP) — Maryland has a new law prohibiting companies from investing in Iran’s energy sector, and the Board of Public Works is set to put companies on notice about it.

The Baltimore Sun reports that the Board of Public Works is scheduled to discuss the new law at its meeting on Wednesday.

The measure was proposed by Gov. Martin O’Malley and passed unanimously this year. It took effect June 1.

The law bars companies from receiving state contracts if they invest $20 million or more in activities to develop petroleum or natural gas resources or nuclear power in Iran.

The law requires the board to compile a list of companies that have to show they are not making such investments. The list includes 22 companies.

(Copyright 2012 by The Associated Press. All Rights Reserved.)

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