OK HB2876

Requires Oklahoma public employee retirement systems (including firefighters, police, teachers, judges, and state employees) to divest from companies with business operations in Iran's defense, nuclear, or petroleum/natural gas sectors, or companies with ties to Iranian terrorist organizations

Investment managers must identify affected companies by January 1, 2017, notify them, and allow 90 days to take "substantial action" (boycott, curtail business, or sell assets in Iran); companies failing to comply within one year face mandatory divestment within 18 months

Prohibits state agencies from procuring goods or services from persons doing business with Iran, with exceptions for essential procurements where compliance would eliminate all bidders or result in inadequate competition

Secretary of Finance, Administration and Information Technology must maintain and update a restricted purchase list of persons doing business with Iran at least every three months

Act terminates when Iran is removed from the State Department's terrorism sponsor list and the President certifies Iran has ceased nuclear weapons development efforts; effective date November 1, 2016