A bill to amend the Securities Exchange Act of 1934 to prohibit the trading on certain exchanges and markets of nonvoting shares and shares carrying disproportionate voting rights.

Summary

Amends the Securities Exchange Act of 1934 to prohibit a common stock that is part of a class of an issuer's securities which is nonvoting or which carries disproportionate voting rights (entitling a share owner to cast more or less than one vote based on such share) from being registered on a national securities exchange or quoted on an automated quotation system operated by a registered national securities association. Sets forth a grandfather clause with respect to such disproportionate stock that was listed or quoted before a specified date.

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

Timeline

1. 18 June 1985

   Introduced

   Read twice and referred to the Committee on Banking.

   Source: IntroReferral

2. 18 June 1985

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 26 June 1985

   Floor

   Star Print ordered S.1314.

   Source: Floor

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in Senate

  summary · EN · 18 June 1985

  Open at official source

Sponsors

• Sen. D'Amato, Alfonse [R-NY] · R · Sponsor
• Sen. Metzenbaum, Howard M. [D-OH] · D · Sponsor
• Sen. Cranston, Alan [D-CA] · D · Sponsor
• · ssbk00 · Standing

Related records

• related to → A bill to amend the Securities Exchange Act of 1934 to prohibit the trading on certain exchanges and markets of nonvoting shares and shares carrying disproportionate voting rights.