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AR SB651
Bill
Status
10/15/2021
Primary Sponsor
Greg Leding
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AI Summary
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Defines "political activity" as any activity directed toward the success or failure of a political party, candidate for partisan political office, or partisan political group
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Prohibits corporations from engaging in any form of political activity unless approved by 75% of shareholders and 75% of directors
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Applies the same restrictions to both business corporations (Arkansas Code Title 4, Chapter 26) and nonprofit corporations (Arkansas Code Title 4, Chapter 27)
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Requires supermajority approval from both shareholder and board level, making corporate political engagement subject to heightened internal governance requirements
Legislative Description
To Regulate The Political Activity Of A Corporation.
Last Action
Died in Senate Committee at Sine Die adjournment.
10/15/2021