HR 2522 · 102th Congress · Finance and Financial Sector
Corporate Pay Responsibility Act
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the Subcommittee on Telecommunications and Finance.(1991-06-17)
Plain Language Summary
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Corporate Pay Responsibility Act - Amends the Securities Exchange Act of 1934 to declare that corporate officer compensation is a proper subject for action by the holder of securities. Mandates that a securities issuer include in its proxy statement clear and comprehensive information regarding corporate officer compensation. Itemizes disclosure contents. Authorizes security holders of specified market value or voting strength to nominate persons for election to the issuer's board of directors. Requires that such nominations be included in the issuer's proxy statement and form of proxy. Requires that, upon receipt of an entitled person's written request, an issuer promptly make available its list of security holders of record, and any list of beneficial owners available to it. Establishes a monetary penalty for noncompliance. Sets forth confidentiality guidelines.…
Summarized by Claude AI · Non-partisan · For informational purposes only