To amend the Securities Exchange Act of 1934 and the Federal Election Campaign Act of 1971 to prohibit a corporation from making disbursements for a political purpose unless the corporation has assessed the preferences of its shareholders with respect to such disbursements, and for other purposes.
Shareholders United Act of 2019
This bill requires an issuer of securities, in order to make a disbursement for a political purpose, to assess the preferences of shareholders in the year before the disbursement. If a majority of shareholders are prohibited from expressing partisan or political preferences by law, contract, or a requirement to meet a fiduciary duty, the issuer may not make such a disbursement.
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 39.
Introduced in House
Introduced in House
Referred to the Committee on Financial Services, and in addition to the Committee on House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Financial Services, and in addition to the Committee on House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
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