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United States · Bill · HR

H.R. 4537 (111th)

Shareholder Protection Act of 2010

referredUnited States· United States Congress· EN

Introduced

27 January 2010

Last action

27 January 2010 · Introduced

Status

Referred to the House Committee on Financial Services.

Sponsors

Rep. Capuano, Michael E. [D-MA-8], Rep. Larson, John B. [D-CT-1], Rep. Pingree, Chellie [D-ME-1], Rep. Grayson, Alan [D-FL-9], Rep. Weiner, Anthony D. [D-NY-9], Rep. Thompson, Bennie G. [D-MS-2], Rep. Watson, Diane E. [D-CA-33], Rep. Cohen, Steve [D-TN-9], Rep. Driehaus, Steve [D-OH-1], Rep. Bean, Melissa L. [D-IL-8], Rep. Maloney, Carolyn B. [D-NY-12], Rep. Massa, Eric J. J. [D-NY-29], Rep. McGovern, James P. [D-MA-2], Rep. Pallone, Frank [D-NJ-6], Rep. Polis, Jared [D-CO-2], Rep. Waters, Maxine [D-CA-43], Rep. Filner, Bob [D-CA-51], Rep. Grijalva, Raúl M. [D-AZ-7], Rep. Himes, James A. [D-CT-4], Rep. Holt, Rush [D-NJ-12], Rep. Miller, Brad [D-NC-13], Rep. Roybal-Allard, Lucille [D-CA-40], Rep. Pascrell, Bill, Jr. [D-NJ-9], Rep. Payne, Donald M. [D-NJ-10], Rep. Ackerman, Gary L. [D-NY-5], Rep. Blumenauer, Earl [D-OR-3], Rep. Moore, Gwen [D-WI-4], Sen. Welch, Peter [D-VT]

Subjects

Taxation

Source updated

14 August 2025

Taxation

Official sourceDownload fileView documentsShare

Summary

Shareholder Protection Act of 2010 - Amends the Securities Exchange Act of 1934 to prohibit an issuer from making any expenditure for political activities in excess of $10,000 in any fiscal year without first obtaining the written affirmative authorization for such expenditure by a majority of all shareholders. Deems a violation of this requirement to be a breach of the fiduciary duty of the officers and directors who authorized such expenditure. Subjects to joint and several liability to any shareholder or class of shareholders for the amount of such expenditure the officers and directors who authorize it without prior shareholder authorization. Prohibits rules and guidelines established by any national securities exchange or by the Securities and Exchange Commission (SEC) from considering as a routine corporate matter a decision to make a contribution or expenditure for political activities in excess of $10,000. Exempts from the shareholder prior approval requirement an issuer whose sole business is the publication or broadcasting of news, commentary, literature, music, entertainment, artistic expression, scientific, historical or academic works, or other forms of information. Directs the SEC to require issuers to disclose quarterly any expenditure for political activities made during the preceding quarter. Requires such report to be filed with the SEC, provided to shareholders, and be made publicly available through the SEC website.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 27 January 2010

    Introduced

    Introduced in House

    Source: IntroReferral

  2. 27 January 2010

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 27 January 2010

    Introduced

    Referred to the House Committee on Financial Services.

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 27 January 2010

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  • Introduced in House (PDF)

    Introduced in House · EN · 27 January 2010

    ViewDownloadOpen at official source

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  • Introduced in House

    summary · EN · 27 January 2010

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Sponsors

Related records

Sources

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