Shareholder Protection Act of 2019

United States116th CongressS-1630Senate
Updated: May 23, 2019

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.

Bill texts

Available versions
Introduced (Senate)View official text

1 version available

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Timeline

Latest companion bill action

HR-3088: Shareholder Protection Act of 2019

ASSUMING FIRST SPONSORSHIP - Mr. Steil asked unanimous consent that he may hereafter be considered as the first sponsor of H.R. 3088, a bill originally introduced by Representative Duffy, for the purpose of adding cosponsors and requesting reprintings pursuant to clause 7 of rule XII. Agreed to without objection.

  1. Introduced in Senate

  2. Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

    Senate

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