Interlocking Directorate Act of 1986

Summary

Interlocking Directorate Act of 1986 - Amends the Clayton Act to prohibit any person from serving as a director in two or more corporations if each (currently, any) of such corporations has capital, surplus, and undivided profits aggregating more than $10,000,000 (currently, $1,000,000). Establishes exceptions to such interlocking directorate prohibition where the sales of each corporation of each product or service sold in competition with the other corporations: (1) are less than five percent of such corporation's total sales, unless such corporation's sales of all such products or services exceed 25 percent of its total sales; (2) added to such corporation's sales of all other such products or services are less than $1,000,000; or (3) are less than three percent of the total sales in each line of commerce in each section of the country in which such corporations compete. Increases the $10,000,000 and $1,000,000 threshold amounts by the percentage increase in the gross national product for the preceding fiscal year.

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Timeline

1. 26 February 1986

   Introduced

   Referred to House Committee on The Judiciary.

   Source: IntroReferral

2. 26 February 1986

   Introduced

   Introduced in House

   Source: IntroReferral

3. 26 February 1986

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in House

  summary · EN · 26 February 1986

  Open at official source

Sponsors

• Rep. Fish, Hamilton, Jr. [R-NY-19] · R · Sponsor
• Rep. Moorhead, Carlos J. [R-CA-22] · R · Sponsor
• Rep. Hyde, Henry J. [R-IL-6] · R · Sponsor
• Rep. Lungren, Daniel E. [R-CA-3] · R · Sponsor
• Rep. Sensenbrenner, F. James, Jr. [R-WI-5] · R · Sponsor
• Rep. Shaw, E. Clay, Jr. [R-FL-22] · R · Sponsor
• Rep. Sundquist, Don [R-TN-7] · R · Cosponsor
• Rep. Clinger, William F., Jr. [R-PA-5] · R · Cosponsor
• Rep. Barton, Joe [R-TX-6] · R · Cosponsor
• · hsju00 · Standing

Related records

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