A bill to amend the Clayton Act to prohibit any person from serving as a director or officer of more than one major corporation at the same time.

Summary

Amends the Clayton Act to prohibit any person from serving concurrently as a director or officer of more than one corporation that has assets or gross annual sales in excess of $1,000,000,000. Prohibits such major corporations from appointing as officers or directors persons who hold such positions with other corporations. Subjects persons and corporations who violate this Act to a penalty of $10,000 for each day during which a violation of this prohibition continues. Provides an exclusive remedy of injunctive relief for persons threatened with loss or damage by violations of this Act. Directs the Federal Trade Commission to enforce this Act and make available to the public any information it receives regarding corporate directorship.

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Documents

1 official file

• Introduced in House

  summary · EN · 21 May 1979

  Open at official source

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