State Bar OKs Divestiture
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The California State Bar, representing the state’s 100,000 lawyers, has approved a policy divesting Bar funds from institutions doing business in South Africa. The decision, made during the monthly Board of Governors meeting in San Francisco, will have no financial effect since the Bar’s $25 million in funds are already invested in firms with no ties to South Africa, according to spokeswoman Anne Charles. The decision makes Bar policy consistent with a new California law governing state investments.
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