3.0.0 4491 2022-11-01T13:49:51Z 2022-11-01T13:49:51Z House HR 2019-09-25 116 [Congressional Record Volume 165, Number 155 (Wednesday, September 25, 2019)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. MALINOWSKI:H.R. 4491.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 1 of the Constitution of theUnited States.[Page H7990]]]> hsba00 Financial Services Committee House Standing Referred to 2019-09-25T14:02:05Z Shareholder Protection Act of 2019 116 1630 S 2019-05-23 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS Shareholder Political Transparency Act of 2020 116 5929 HR 2020-12-08 Placed on the Union Calendar, Calendar No. 517. Related bill CRS 2019-09-25 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2019-09-25 Introduced in House IntroReferral Intro-H 9 Library of Congress 2019-09-25 Introduced in House IntroReferral 1000 9 Library of Congress M001203 Rep. Malinowski, Tom [D-NJ-7] Tom Malinowski D NJ 7 N C001061 Rep. Cleaver, Emanuel [D-MO-5] Emanuel Cleaver D MO 5 2019-09-25 True Finance and Financial Sector Administrative law and regulatory procedures Civil actions and liability Congressional oversight Corporate finance and management Elections, voting, political campaign regulation Financial services and investments Government information and archives Government studies and investigations Securities Securities and Exchange Commission (SEC) Finance and Financial Sector 00 2019-09-25 Introduced in House 2019-10-16T13:49:34Z 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.

]]> Shareholder Protection Act Display Title Shareholder Protection Act Official Title as Introduced To amend the Securities Exchange Act of 1934 to require shareholder authorization before a public company may make certain political expenditures, and for other purposes. Introduced in House IH Short Title(s) as Introduced Shareholder Protection Act Introduced in House IH Introduced in House 2019-09-25T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr4491ih/xml/BILLS-116hr4491ih.xml 2019-09-25 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.