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Main Subject: Finance and financial sector

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.

S1-117, HR1087-117, S2093-117,

Senate Actions

IntroReferral
Mar. 02 2021	Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Library of Congress Actions

IntroReferral
Mar. 02 2021	Introduced in Senate

Senate bill S530-117

Shareholder Protection Act of 2021

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