A bill to provide that certain executives of publicly traded utility companies may not receive bonuses or severance payments, and for other purposes.
Accountability for Utility Executives Act
This bill prohibits a publicly traded utility company undergoing bankruptcy proceedings from paying bonuses or any golden parachute compensation to company executives. The bill defines golden parachute compensation as compensation based on or related to the acquisition, merger, consolidation, sale, or other disposition of the assets of the company.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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