S 1630
116th Congress
Senate
Finance and Financial Sector
Administrative law and regulatory procedures
Corporate finance and management
Elections, voting, political campaign regulation
Political advertising
Securities
Securities and Exchange Commission (SEC)
Shareholder Protection Act of 2019
Introduced: May 23, 2019
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 23, 2019
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
May 23, 2019
Introduced in Senate
Plain-English summary
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's happening now
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committees of jurisdiction
1