US HB4491 | 2019-2020 | 116th Congress

Status

Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on September 25 2019 - 25% progression
Action: 2019-09-25 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Shareholder Protection Act This bill requires shareholder authorization of certain political expenditures by an issuer. A violation of this requirement shall be considered a breach of fiduciary duty, and the officers and directors who authorized the expenditure shall be subject to joint and several liability. An issuer must require a board vote with respect to political expenditures in excess of $50,000 and, within 48 hours, make publicly available the individual votes of each board member.

Tracking Information

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Title

Shareholder Protection Act

Sponsors


History

DateChamberAction
2019-09-25HouseReferred to the House Committee on Financial Services.
2019-09-25HouseIntroduced in House

Same As/Similar To

SB1630 (Related) 2019-05-23 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Subjects


US Congress State Sources


Bill Comments

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