Shareholder Protection Act
Latest action · Sep 25, 2019 Referred to the House Committee on Financial Services.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedSep 25, 2019
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
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.
Cosponsors 1
Members who signed on, in the order they did. All signed on Sep 25, 2019.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-MO | Emanuel Cleaver | Original | Sep 25, 2019 |
Actions 2
Everything that happened, newest first.
- Sep 25, 2019Introduced in House
- Sep 25, 2019Referred to the House Committee on Financial Services.
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 1630 | Shareholder Protection Act of 2019 | Related bill | May 23, 2019 |
| HR 5929 | Shareholder Political Transparency Act of 2020 | Related bill | Dec 8, 2020 |
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
- Administrative law and regulatory procedures
- Civil actions and liability
- Congressional oversight
- Corporate finance and management
- Elections, voting, political campaign regulation
- Finance and Financial Sector
- Financial services and investments
- Government information and archives
- Government studies and investigations
- Securities
- Securities and Exchange Commission (SEC)
Text 1
Each version as it was printed, newest first.
- Sep 25, 2019Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.