Shareholder Protection Act of 2019
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (May 23, 2019)
Shareholder Protection Act of 2019
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.
What just happenedMay 23, 2019
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Who’s behind it
- Introduced in SenateMay 23, 2019
- May 23, 2019IntroReferral
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Banking, Housing, and Urban Affairs Committee - May 23, 2019IntroReferral10000
Introduced in Senate