Bill Summary for H 624 (2011-2012)
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Summary date:
Apr 5 2011
Bill Information:
| View NCGA Bill Details | 2011-2012 Session |
PROVIDING FOR SHAREHOLDER VOTE ON CORPORATE INDEPENDENT EXPENDITURES AND ELECTIONEERING COMMUNICATIONS.Intro. by Harrison, Martin.
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Bill 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.