Bill Summaries: H624 (2011-2012 Session)

  • Summary date: Apr 5 2011 - View summary

    Enacts new GS 163-278.12D requiring North Carolina corporations that spend $10,000 or more of treasury funds on independent expenditures or electioneering communications during a 12-month period to first obtain approval by a vote of their shareholders. Subjects directors to joint and several liability for unauthorized expenditures. Applies to elections held on or after January 1, 2012.