NC H724

Requires North Carolina corporations spending $10,000 or more of corporate treasury funds on independent expenditures or electioneering communications to obtain shareholder approval.

Mandates inclusion of a separate shareholder vote resolution in annual (or special) meeting proxies occurring at least six months after final regulations are published, with authorization valid for a 12-month period.

Requires corporations to specify the maximum dollar amount to be spent and, if known, whether funds will be used for direct corporate spending or paid to nonprofits or trade associations for political activities.

Makes shareholder votes binding on the corporation, requiring majority support for authorization to proceed with political spending.

Imposes joint and several liability on directors for any unauthorized independent expenditures or electioneering communications, requiring repayment to the corporation plus 8% annual interest.