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As overwhelming majority of the Massachusetts House of Representatives yesterday to override Gov.Edward J.King's vein of a bill requiring the divestment of all state pension funds from farms doing business in South Africa. The Senate approval the override Monday and the measure becomes law.
The state agencies have three years to sell about $100 million worth of stock held in companies established in South Africa.
First Divestiture
Massachusetts is the first state to impose blanket restrictions on such investments. Both Michigan and Connecticut have some provisions regulating the state government's purchase of these securities. Sen Jack Backman (D-Brookline), one of the bill's sponsors, said this week that similar legislation has been introduced in 15 other states.
Both houses of the state legislature approved the sweeping provision by voice votes early in December But King expressed reservations about the bill, proposing amendments to make it less stringent.
The House and Senate rejected the suggested changes, and King voted the bill.
The Senate then voted to override, 23 to 5 The House followed. 133 to 2.
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