(1) Within ninety days of April 19, 2007, a public fund shall make its best efforts to identify all scrutinized companies in which the public fund has direct or indirect holdings or could possibly have such holdings in the future. Such efforts may include, as appropriate in the public fund's judgment:

(a) Reviewing and relying on publicly available information regarding companies with business operations in Sudan, including information provided by nonprofit organizations, research firms, international organizations, and government entities;

(b) Contacting asset managers contracted by the public fund that invest in companies with business operations in Sudan; and

(c) Contacting other institutional investors that have divested from or engaged with companies that have business operations in Sudan.

(2) By the first meeting of a public fund following the ninety-day period described in subsection (1) of this section, the public fund shall assemble all identified scrutinized companies into a scrutinized companies list.

(3) A public fund shall update the scrutinized companies list every six months based on evolving information from, among other sources, those listed in subsection (1) of this section.

(4) A public fund may engage a research firm or organization that offers services related to the screening of companies that have business operations in Sudan to perform all or part of the tasks required in this section. It shall be reasonable and sufficient for a public fund to rely on information and work product obtained from such research firm or organization.