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H.R. 617 103rd Congress House

Limited Partnership Rollup Reform Act of 1993

Official title: To amend the Securities Exchange Act of 1934 to protect investors in limited partnerships in rollup transactions, and for other purposes.

Introduced: January 26, 1993 Introduced by: Edward J. Markey Democratic · Massachusetts See on congress.gov
Finance and Financial Sector Administrative procedureBrokersConflict of interestsCorporate reorganizations
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Independent regulatory commissionsInformation disclosure (Securities law)Investment analysisInvestorsLimited partnershipsPartnershipsSecuritiesSecurities and Exchange CommissionSecurities regulationStock exchangesStockholdersStockholders' votingTender offers
This bill died when the 103rd Congress ended
It never became law before the 103rd Congress (1993–1994) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 19 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 3, 1993
Received in the Senate and read twice and referred to the Committee on Banking.
Mar 2, 1993
Motion to reconsider laid on the table Agreed to without objection.
Mar 2, 1993
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays (2/3 required): 408 - 6 (Roll No. 47).
Mar 2, 1993
Considered as unfinished business. (CR H950-951)
Mar 2, 1993
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 5, rule I, the chair announced that further proceedings on the motion would be postponed.
Mar 2, 1993
DEBATE - The House proceeded with forty minutes of debate.
Mar 2, 1993
Considered under suspension of the rules. (consideration: CR H942-947)
Mar 2, 1993
Mr. Markey moved to suspend the rules and pass the bill, as amended.
Feb 25, 1993
Placed on the Union Calendar, Calendar No. 10.
Feb 25, 1993
Reported (Amended) by the Committee on Energy and Commerce. H. Rept. 103-21.
Feb 23, 1993
Ordered to be Reported (Amended) by Voice Vote.
Feb 23, 1993
Committee Consideration and Mark-up Session Held.
Feb 18, 1993
Forwarded by Subcommittee to Full Committee (Amended) by Voice Vote.
Feb 18, 1993
Subcommittee Consideration and Mark-up Session Held.
Feb 3, 1993
Subcommittee Hearings Held.
Feb 1, 1993
Referred to the Subcommittee on Telecommunications and Finance.
Jan 26, 1993
Referred to the House Committee on Energy and Commerce.
Jan 26, 1993
Sponsor introductory remarks on measure. (CR E158, E164)
Jan 26, 1993
Introduced in House
 Votes taken on this bill 1
DateChamberWhat was voted onResultYes–No
Mar 2, 1993 House · vote #47 SUSPEND THE RULES AND PASS, AS AMENDED Passed 408–6 See who voted →
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 Latest action March 3, 1993

Received in the Senate and read twice and referred to the Committee on Banking.

 Plain-English summary Congressional Research Service

Limited Partnership Rollup Reform Act of 1993 - Amends the Securities Exchange Act of 1934 to revise proxy solicitation rules with respect to limited partnership rollup transactions (in which general partners combine several limited partnerships into one unit that trades on a stock exchange or a single limited partnership is reorganized so that some or all of the investors receive new securities or securities in another entity).

Requires the Securities and Exchange Commission (SEC) to prescribe proxy rules to: (1) permit dissenting shareholders in a proposed rollup to contact, without filing soliciting material with the SEC, other limited partners before the transaction date in order to determine whether to solicit proxies, consents, or authorizations in opposition to the proposed transaction; (2) require the issuer to provide a shareholder (limited partner) with a list of all limited and general partners involved in the proposed rollup; (3) prohibit the direct or indirect payment of any person providing solicitation services (a broker-dealer) on the basis of whether the solicited proxies, consents, or authorizations either approve or disapprove the proposed transaction, or the transaction is approved or completed; (4) require the rollup soliciting material to be clear, concise, and understandable and summarize all effects of the proposed transaction, its risks, conflicts of interest, changes in voting rights and ownership interests, dissenters' rights, and other pertinent information; (5) provide that the soliciting material contain an opinion by an outside person on the fairness of the proposed transaction to shareholders; and (6) give each shareholder at least 60 days to review the soliciting material. Authorizes the SEC to grant exemptions from these requirements.

Excludes transactions involving certain kinds of limited partnerships from the meaning of limited partnership rollup transaction.

Requires the rules of a national securities association to prevent association members from participating in any rollup transaction unless it protects specified rights of dissenting limited partners. Requires: (1) a national securities exchange to prohibit the listing of any security resulting from a rollup transaction; and (2) the rules of a national securities association to prohibit the authorization for quotation on an association-sponsored automated interdealer quotation system of any security the SEC designates as a national market system security resulting from a rollup transaction, unless such dissenters' rights were provided for.

 Related & companion bills 1
 Bill text 4 versions

Source documents hosted by congress.gov.

 Committees of jurisdiction 3
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APA
U.S. Congress. (2026). H.R. 617: Limited Partnership Rollup Reform Act of 1993. 103rd Congress. Open America. https://openamerica.io/bill/103-HR-617/
MLA
"H.R. 617: Limited Partnership Rollup Reform Act of 1993." 103rd Congress, 2026, Open America, https://openamerica.io/bill/103-HR-617/.
Bluebook (legal)
H.R. 617, 103rd Cong. (2026), https://openamerica.io/bill/103-HR-617/.
Markdown link
[H.R. 617: Limited Partnership Rollup Reform Act of 1993](https://openamerica.io/bill/103-HR-617/)
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