Shareholder Protection Act of 2021

Senate Bill 530 - Shareholder Protection Act of 2021: Overview, Status, and Impact

Hozzl · 2023-03-08T20:26:37Z

Explore the details of Senate Bill 530 Shareholder Protection Act of 2021 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

3/8/2023, 8:26 PM

Congressional Summary of S 530

Shareholder Protection Act of 2021

This bill requires shareholder authorization of certain political expenditures by a publicly traded company. A violation of this requirement is considered a breach of fiduciary duty, and the officers and directors who authorized the expenditure are subject to joint and several liability. A publicly traded company 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.

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Current Status of Bill S 530

Bill S 530 is currently in the status of Bill Introduced since March 2, 2021. Bill S 530 was introduced during Congress 117 and was introduced to the Senate on March 2, 2021. Bill S 530's most recent activity was Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of March 2, 2021

Bipartisan Support of Bill S 530

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 530

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

- Administrative law and regulatory procedures

- Corporate finance and management

- Elections, voting, political campaign regulation

- Political advertising

- Securities

- Securities and Exchange Commission (SEC)

Alternate Title(s) of Bill S 530

Shareholder Protection Act of 2021

A bill 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.

Shareholder Protection Act of 2021