Interlocking Directorate Act of 1989

Summary

Amends the Clayton Act to prohibit any person from serving as a director or officer (currently director only) of any two corporations if each (currently any) such corporation has capital, surplus, and undivided profits aggregating more than $10,000,000 (currently $1,000,000) and such corporations are competitors, so that the elimination of competition by agreement between them would constitute a violation of any of the provisions of the antitrust laws. Establishes exceptions to such prohibition when: (1) the aggregate competitive sales of either corporation are less than $1,000,000; (2) the aggregate competitive sales of either corporation are less than one percent of that corporation's total sales; or (3) the aggregate competitive sales of each corporation are less than four percent of that corporation's total sales. Increases or decreases the $10,000,000 and $1,000,000 threshold amounts by the percentage increase or decrease in the gross national product for the preceding fiscal year. Provides that a director or officer shall not be deemed ineligible under the provisions of this Act until the expiration of one year from the date an event causing ineligibility occurred, or, if practical, the next regularly scheduled election of directors, whichever occurs first.

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

Timeline

1. 16 May 1989

   Introduced

   Read twice and referred to the Committee on Judiciary.

   Source: IntroReferral

2. 16 May 1989

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 25 July 1989

   Committee

   Committee on Judiciary. Hearings held. Hearings printed: S.Hrg. 101-312.

   Source: Committee

4. 22 March 1990

   Reported

   Committee on Judiciary. Ordered to be reported with an amendment in the nature of a substitute favorably.

   Source: Committee

5. 14 May 1990

   Calendars

   Placed on Senate Legislative Calendar under General Orders. Calendar No. 543.

   Source: Calendars

6. 14 May 1990

   Reported

   Committee on Judiciary. Reported to Senate by Senator Biden with an amendment in the nature of a substitute and an amendment to the title. With written report No. 101-286.

   Source: Committee

7. 14 May 1990

   Reported

   Committee on Judiciary. Reported to Senate by Senator Biden with an amendment in the nature of a substitute and an amendment to the title. With written report No. 101-286.

   Source: Committee

8. 27 October 1990

   Floor

   Indefinitely postponed by Senate by Unanimous Consent.

   Source: Floor

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · — · Download file
• Reported to Senate · — · Download file

Documents

4 official files

• Reported to Senate (text)

  Reported to Senate · EN

  ViewDownloadOpen at official source

• Introduced in Senate (text)

  Introduced in Senate · EN

  ViewDownloadOpen at official source

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• Reported to Senate with amendment(s)

  summary · EN · 14 May 1990

  Open at official source

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  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

• Introduced in Senate

  summary · EN · 16 May 1989

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Metzenbaum, Howard M. [D-OH] · D · Sponsor
• Sen. Thurmond, Strom [R-SC] · R · Sponsor
• Sen. Simon, Paul [D-IL] · D · Sponsor
• Sen. DeConcini, Dennis [D-AZ] · D · Sponsor
• Sen. Leahy, Patrick J. [D-VT] · D · Sponsor
• Sen. Hatch, Orrin G. [R-UT] · R · Sponsor
• Sen. Kohl, Herb [D-WI] · D · Cosponsor
• Sen. Sanford, Terry [D-NC] · D · Cosponsor
• · ssju00 · Standing

Related records

• related to → Antitrust Amendments Act of 1990