NC H610

Requires North Carolina corporations that spend $10,000 or more in aggregate on independent expenditures or electioneering communications to obtain shareholder approval via separate resolution at annual or special meetings.

Shareholder authorization votes must receive majority support and are binding on the corporation; corporations may request authorization for more frequent spending limits if desired.

Corporations must specify the maximum dollar amount authorized for a 12-month period and disclose whether funds will be spent directly or paid to nonprofits or trade associations for political activities.

Exempts corporations spending less than $10,000 in a 12-month period from the authorization requirement.

Makes corporate directors jointly and severally liable to repay unauthorized expenditures to the corporation with 8% annual interest if a corporation violates shareholder-approved spending limits.