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MI SB1362
Bill
AI Summary
- Requires corporations and joint stock companies to disclose the amount and nature of independent expenditures to each shareholder or member at least 30 days before making the expenditure.
- Mandates that a majority of shareholders or members affirmatively consent to an independent expenditure before the corporation or joint stock company can proceed with it.
- Requires corporations and joint stock companies to maintain records demonstrating compliance with the disclosure and consent requirements.
- Allows any Michigan elector to request and promptly receive the compliance records from the corporation or joint stock company.
Legislative Description
Campaign finance; contributions and expenditures; independent expenditures by corporations; require disclosure to and approval by shareholders. Amends 1976 PA 388 (MCL 169.201 - 169.282) by adding sec. 55b.
Campaign finance, contributions and expenditures
Last Action
Referred To Committee On Campaign And Election Oversight
6/2/2010
Committee Referrals
Campaign & Election Oversight6/2/2010
Full Bill Text
No bill text available