H.R.1116 - End the Hijacking of Shareholder Funds Act

To require the approval of a majority of a public company's shareholders for any expenditure by that company to influence public opinion on matters not related to the company's products or services. view all titles (2)

All Bill Titles

  • Official: To require the approval of a majority of a public company's shareholders for any expenditure by that company to influence public opinion on matters not related to the company's products or services. as introduced.
  • Short: End the Hijacking of Shareholder Funds Act as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
03/13/13
 
 
 
 
 
 
 

Official Summary

End the Hijacking of Shareholder Funds Act - Deems expenditure to influence public opinion by the officers and directors of a public company on matters not related to company products or services to be a breach of fiduciary duty if such expenditure has not been approved by a prior majority

Official Summary

End the Hijacking of Shareholder Funds Act - Deems expenditure to influence public opinion by the officers and directors of a public company on matters not related to company products or services to be a breach of fiduciary duty if such expenditure has not been approved by a prior majority shareholder vote. Subjects such officers and directors to joint and several liability to any shareholder or class of shareholders for the amount of such an expenditure.

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