3.0.0 4537 2023-01-11T13:16:43Z 2023-01-11T13:16:43Z House H HR 2010-01-27 111 hsba00 Financial Services Committee House Standing Referred to 2010-01-27T19:39:34Z Shareholder Protection Act of 2010 111 4790 HR 2010-09-22 Placed on the Union Calendar, Calendar No. 362. Related bill CRS 2010-01-27 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2010-01-27 Introduced in House IntroReferral Intro-H 9 Library of Congress 2010-01-27 Introduced in House IntroReferral 1000 9 Library of Congress C001037 Rep. Capuano, Michael E. [D-MA-8] MICHAEL CAPUANO D MA E. 8 N L000557 Rep. Larson, John B. [D-CT-1] JOHN LARSON D CT B. 1 2010-01-27 True P000597 Rep. Pingree, Chellie [D-ME-1] Chellie Pingree D ME 1 2010-01-27 True G000556 Rep. Grayson, Alan [D-FL-8] Alan Grayson D FL 8 2010-01-27 True W000792 Rep. Weiner, Anthony D. [D-NY-9] ANTHONY WEINER D NY D. 9 2010-02-02 False T000193 Rep. Thompson, Bennie G. [D-MS-2] BENNIE THOMPSON D MS 2 2010-02-02 False W000794 Rep. Watson, Diane E. [D-CA-33] Diane Watson D CA E. 33 2010-02-23 False C001068 Rep. Cohen, Steve [D-TN-9] Steve Cohen D TN 9 2010-02-23 False D000609 Rep. Driehaus, Steve [D-OH-1] Steve Driehaus D OH 1 2010-02-23 False B001253 Rep. Bean, Melissa L. [D-IL-8] Melissa Bean D IL L. 8 2010-02-24 False M000087 Rep. Maloney, Carolyn B. [D-NY-14] CAROLYN MALONEY D NY B. 14 2010-02-24 False M001173 Rep. Massa, Eric J. J. [D-NY-29] Eric Massa D NY J. J. 29 2010-02-24 False M000312 Rep. McGovern, James P. [D-MA-3] JAMES MCGOVERN D MA P. 3 2010-02-24 False P000034 Rep. Pallone, Frank, Jr. [D-NJ-6] FRANK PALLONE D NJ 6 2010-02-24 False P000598 Rep. Polis, Jared [D-CO-2] Jared Polis D CO 2 2010-02-24 False W000187 Rep. Waters, Maxine [D-CA-35] MAXINE WATERS D CA 35 2010-02-24 False F000116 Rep. Filner, Bob [D-CA-51] BOB FILNER D CA 51 2010-03-02 False G000551 Rep. Grijalva, Raúl M. [D-AZ-7] Raúl Grijalva D AZ M. 7 2010-03-02 False H001047 Rep. Himes, James A. [D-CT-4] James Himes D CT A. 4 2010-03-02 False H001032 Rep. Holt, Rush [D-NJ-12] RUSH HOLT D NJ D. 12 2010-03-02 False M001154 Rep. Miller, Brad [D-NC-13] Brad Miller D NC 13 2010-03-02 False R000486 Rep. Roybal-Allard, Lucille [D-CA-34] LUCILLE ROYBAL-ALLARD D CA 34 2010-03-02 False P000096 Rep. Pascrell, Bill, Jr. [D-NJ-8] WILLIAM PASCRELL D NJ J. 8 2010-03-02 False P000149 Rep. Payne, Donald M. [D-NJ-10] DONALD PAYNE D NJ M. 10 2010-03-02 False A000022 Rep. Ackerman, Gary L. [D-NY-5] GARY ACKERMAN D NY L. 5 2010-03-09 False B000574 Rep. Blumenauer, Earl [D-OR-3] EARL BLUMENAUER D OR 3 2010-03-09 False M001160 Rep. Moore, Gwen [D-WI-4] Gwen Moore D WI 4 2010-03-09 False W000800 Rep. Welch, Peter [D-VT-At Large] Peter Welch D VT 0 2010-03-09 False Finance and Financial Sector Administrative law and regulatory procedures Business records Civil actions and liability Corporate finance and management Elections, voting, political campaign regulation Financial services and investments Government information and archives News media and reporting Securities Securities and Exchange Commission (SEC) Finance and Financial Sector 00 2010-01-27 Introduced in House 2010-02-23T20:44:15Z Shareholder Protection Act of 2010 - Amends the Securities Exchange Act of 1934 to prohibit an issuer from making any expenditure for political activities in excess of $10,000 in any fiscal year without first obtaining the written affirmative authorization for such expenditure by a majority of all shareholders.

Deems a violation of this requirement to be a breach of the fiduciary duty of the officers and directors who authorized such expenditure.

Subjects to joint and several liability to any shareholder or class of shareholders for the amount of such expenditure the officers and directors who authorize it without prior shareholder authorization.

Prohibits rules and guidelines established by any national securities exchange or by the Securities and Exchange Commission (SEC) from considering as a routine corporate matter a decision to make a contribution or expenditure for political activities in excess of $10,000.

Exempts from the shareholder prior approval requirement an issuer whose sole business is the publication or broadcasting of news, commentary, literature, music, entertainment, artistic expression, scientific, historical or academic works, or other forms of information.

Directs the SEC to require issuers to disclose quarterly any expenditure for political activities made during the preceding quarter. Requires such report to be filed with the SEC, provided to shareholders, and be made publicly available through the SEC website.


]]> Shareholder Protection Act of 2010 Display Title Shareholder Protection Act of 2010 Official Title as Introduced To amend the Securities Exchange Act of 1934 to require the express authorization of a majority of shareholders of a public company for certain political expenditures by that company, and for other purposes. Introduced in House IH Short Titles as Introduced Shareholder Protection Act of 2010 Introduced in House 2010-01-27T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr4537ih/xml/BILLS-111hr4537ih.xml 2010-01-27 Referred to the House Committee on Financial Services. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.