Accountable Capitalism Act

Summary

Accountable Capitalism Act This bill imposes various duties and limitations on companies and entities that qualify as large entities, including by: (1) imposing on such an entity a duty to create a general public benefit as articulated in its charter, (2) requiring a director of a large entity to balance the pecuniary interests of shareholders with the interests of persons materially affected by the entity, (3) restricting when officers and directors may sell certain securities related to the entity, and (4) requiring shareholder and director approval of the entity's political expenditures. The bill also establishes the Office of U.S. Corporations, which shall have various duties such as reviewing and granting charters for large entities.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 15 August 2018

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 15 August 2018

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• Introduced in Senate

  summary · EN · 15 August 2018

  Open at official source

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