S. 2829 · 117th Congress
Mind Your Own Business Act of 2021
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
RubioSponsorNo cosponsors.
This bill requires a large publicly traded company, as a condition of being listed on a national securities exchange, to establish in the company's articles of incorporation or bylaws certain duties and procedures regarding a claim against a corporate defendant for breach of fiduciary duty resulting from a material action.
What it does: CRS summary · Introduced in Senate · Sep 23, 2021
Mind Your Own Business Act of 2021
This bill requires a large publicly traded company, as a condition of being listed on a national securities exchange, to establish in the company's articles of incorporation or bylaws certain duties and procedures regarding a claim against a corporate defendant for breach of fiduciary duty resulting from a material action.
A material action taken by a corporate actor covered by this bill includes
- an action taken primarily in response to a state law, state regulation, or state legislation relating to the manner in which elections are conducted in the state, protecting religious freedom, or limiting the availability of abortion services;
- an action to promote certain social issues; or
- other actions unrelated to the company's pecuniary interest.
Actions not covered by this bill include charitable contributions, certain exercises of religion, activity related to national security, and the limitation of business with certain nations and entities.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Mind Your Own Business Act of 2021
Latest action (Sep 23, 2021): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Sep 23, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.