Mind Your Own Business Act of 2021

Summary

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.

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Timeline

1. 23 September 2021

   Introduced

   Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

   Source: IntroReferral

2. 23 September 2021

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 23 September 2021 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 23 September 2021

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 23 September 2021

  DownloadOpen at official source

• Introduced in Senate

  summary · EN · 23 September 2021

  Open at official source

Sponsors

• Sen. Rubio, Marco [R-FL] · R · Sponsor
• · ssbk00 · Standing

Related records

No cross-record relationships stored yet.