Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Apr 07, 2014 |
print number 2952b |
Apr 07, 2014 |
amend and recommit to corporations, authorities and commissions |
Jan 08, 2014 |
referred to corporations, authorities and commissions |
Apr 11, 2013 |
print number 2952a |
Apr 11, 2013 |
amend and recommit to corporations, authorities and commissions |
Jan 25, 2013 |
referred to corporations, authorities and commissions |
Senate Bill S2952B
2013-2014 Legislative Session
Sponsored By
(D, WF) 47th Senate District
Archive: Last Bill Status - In Senate Committee Corporations, Authorities And Commissions Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Bill Amendments
2013-S2952 - Details
- Current Committee:
- Senate Corporations, Authorities And Commissions
- Law Section:
- Business Corporation Law
- Laws Affected:
- Add §§609-a & 609-b, BC L
- Versions Introduced in 2015-2016 Legislative Session:
-
S43
2013-S2952 - Summary
Requires the authorization of certain political expenditures by the shareholders and the board of directors of public corporations; requires the comptroller to annually conduct a study on the compliance with the requirements of this act by public corporations and their management.
2013-S2952 - Sponsor Memo
BILL NUMBER:S2952 TITLE OF BILL: An act to amend the business corporation law, in relation to requiring the authorization of certain political expendi- tures by the shareholders and the board of directors of public corpo- rations; and to require the comptroller to annually conduct a study on the compliance with the requirements of this act by public corporations and their management PURPOSE: Requires the authorization of certain political expenditures by the shareholders and the board of directors of public corporations. SUMMARY OF PROVISIONS: Section One - Designates the act to be known as the "New York Sharehold- er Protection Act of 2013. Section Two - Outlines legislative intent and purpose. Section Three - Amends the business corporation law by adding two new sections 609-a and 609-b. * Notwithstanding any provision of law to the contrary, no publicly-held corporation, subject to the provisions of this chapter, shall make any expenditure for or to fund state, federal or local political activities in any fiscal year unless such expenditure is approved in advance by a
2013-S2952 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2952 2013-2014 Regular Sessions I N S E N A T E January 25, 2013 ___________ Introduced by Sen. HOYLMAN -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities and Commissions AN ACT to amend the business corporation law, in relation to requiring the authorization of certain political expenditures by the sharehold- ers and the board of directors of public corporations; and to require the comptroller to annually conduct a study on the compliance with the requirements of this act by public corporations and their management THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. This act shall be known and may be cited as the "New York shareholder protection act of 2013". S 2. Legislative intent and purpose. The legislature hereby finds that: a. Corporations make significant political contributions and expendi- tures that directly or indirectly influence the election of candidates and support or oppose political causes. Decisions to use corporate funds for political contributions and expenditures are usually made by corpo- rate boards and executives, rather than shareholders. b. Corporations, acting through their boards and executives, are obli- gated to conduct business for the best interests of their owners, the shareholders. c. Historically, shareholders have not had a way to know, or to influ- ence, the political activities of corporations they own. Shareholders and the public have a right to know how corporations are spending their funds to make political contributions or expenditures benefitting candi- dates, political parties, and political causes. d. Corporations should be accountable to their shareholders in making political contributions or expenditures affecting Federal governance and public policy. Requiring the express approval of a corporation's share- EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08075-01-3
2013-S2952A - Details
- Current Committee:
- Senate Corporations, Authorities And Commissions
- Law Section:
- Business Corporation Law
- Laws Affected:
- Add §§609-a & 609-b, BC L
- Versions Introduced in 2015-2016 Legislative Session:
-
S43
2013-S2952A - Summary
Requires the authorization of certain political expenditures by the shareholders and the board of directors of public corporations; requires the comptroller to annually conduct a study on the compliance with the requirements of this act by public corporations and their management.
2013-S2952A - Sponsor Memo
BILL NUMBER:S2952A TITLE OF BILL: An act to amend the business corporation law, in relation to requiring the authorization of certain political expenditures by the shareholders and the board of directors of public corporations; and to require the comptroller to annually conduct a study on the compliance with the requirements of this act by public corporations and their management PURPOSE: Requires the authorization of certain political expenditures by the shareholders and the board of directors of public corporations. SUMMARY OF PROVISIONS: Section One - Designates the act to be known as the "New York Shareholder Protection Act of 2013. Section Two - Outlines legislative intent and purpose. Section Three - Amends the business corporation law by adding two new sections 609-a and 609-b. Notwithstanding any provision of law to the contrary, no publicly-held corporation, subject to the provisions of this chapter, shall make any expenditure for or to fund state, federal or local political activities in any fiscal year unless such expenditure is approved in
2013-S2952A - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2952--A 2013-2014 Regular Sessions I N S E N A T E January 25, 2013 ___________ Introduced by Sen. HOYLMAN -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities and Commissions -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the business corporation law, in relation to requiring the authorization of certain political expenditures by the sharehold- ers and the board of directors of public corporations; and to require the comptroller to annually conduct a study on the compliance with the requirements of this act by public corporations and their management THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. This act shall be known and may be cited as the "New York shareholder protection act of 2013". S 2. Legislative intent and purpose. The legislature hereby finds that: a. Corporations make significant political contributions and expendi- tures that directly or indirectly influence the election of candidates and support or oppose political causes. Decisions to use corporate funds for political contributions and expenditures are usually made by corpo- rate boards and executives, rather than shareholders. b. Corporations, acting through their boards and executives, are obli- gated to conduct business for the best interests of their owners, the shareholders. c. Historically, shareholders have not had a way to know, or to influ- ence, the political activities of corporations they own. Shareholders and the public have a right to know how corporations are spending their funds to make political contributions or expenditures benefitting candi- dates, political parties, and political causes. d. Corporations should be accountable to their shareholders in making political contributions or expenditures affecting Federal governance and public policy. Requiring the express approval of a corporation's share- EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08075-03-3
co-Sponsors
(D, WF) 28th Senate District
2013-S2952B (ACTIVE) - Details
- Current Committee:
- Senate Corporations, Authorities And Commissions
- Law Section:
- Business Corporation Law
- Laws Affected:
- Add §§609-a & 609-b, BC L
- Versions Introduced in 2015-2016 Legislative Session:
-
S43
2013-S2952B (ACTIVE) - Summary
Requires the authorization of certain political expenditures by the shareholders and the board of directors of public corporations; requires the comptroller to annually conduct a study on the compliance with the requirements of this act by public corporations and their management.
2013-S2952B (ACTIVE) - Sponsor Memo
BILL NUMBER:S2952B TITLE OF BILL: An act to amend the business corporation law, in relation to requiring the authorization of certain political expenditures by the shareholders and the board of directors of public corporations; and to require the comptroller to annually conduct a study on the compliance with the requirements of this act by public corporations and their management PURPOSE: Requires the authorization of certain political expenditures by the shareholders and the board of directors of public corporations. SUMMARY OF PROVISIONS: Section One - Designates the act to be known as the "New York Shareholder Protection Act of 2014. Section Two - Outlines legislative intent and purpose. Section Three - Amends the business corporation law by adding two new sections 609-a and 609-b. Notwithstanding any provision of law to the contrary, no publicly-held corporation, subject to the provisions of this chapter, shall make any expenditure for or to fund state, federal or local political activities in any fiscal year unless such expenditure is approved in
2013-S2952B (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2952--B 2013-2014 Regular Sessions I N S E N A T E January 25, 2013 ___________ Introduced by Sen. HOYLMAN -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities and Commissions -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee -- recommitted to the Committee on Corporations, Authorities and Commissions in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said commit- tee AN ACT to amend the business corporation law, in relation to requiring the authorization of certain political expenditures by the sharehold- ers and the board of directors of public corporations; and to require the comptroller to annually conduct a study on the compliance with the requirements of this act by public corporations and their management THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. This act shall be known and may be cited as the "New York shareholder protection act of 2014". S 2. Legislative intent and purpose. The legislature hereby finds that: a. Corporations make significant political contributions and expendi- tures that directly or indirectly influence the election of candidates and support or oppose political causes. Decisions to use corporate funds for political contributions and expenditures are usually made by corpo- rate boards and executives, rather than shareholders. b. Corporations, acting through their boards and executives, are obli- gated to conduct business for the best interests of their owners, the shareholders. c. Historically, shareholders have not had a way to know, or to influ- ence, the political activities of corporations they own. Shareholders and the public have a right to know how corporations are spending their EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08075-04-4
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