H.R. 1116 · 113th Congress
End the Hijacking of Shareholder Funds Act
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Never voted on. It didn't reach a floor vote before the 113th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
GraysonSponsorNo cosponsors.
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.
What it does: CRS summary · Introduced in House · Mar 13, 2013
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: End the Hijacking of Shareholder Funds Act
Latest action (Mar 13, 2013): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Mar 13, 2013
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.