NJ Lawmaker Proposes Assault Weapons Divestment

Law360, New York (December 21, 2012, 6:04 PM EST) -- Under a bill one New Jersey lawmaker introduced Friday, the state would have to pull any of its investments with companies that make or sell assault-style weapons like the semiautomatic firearm used in the recent killing of 28 people in Newtown, Conn.

The planned legislation, sponsored by state Sen. Richard J. Codey, D-Essex/Morris, would also bar the state from investing in those companies going forward.

Codey said in a statement that there was no reasonable purpose for a civilian to own such weapons.

“While the gun...
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