HR 3182 · 96th Congress · Foreign Trade and International Finance

Foreign Investors Limitation Act

Introduced 1979-03-22· Sponsored by Rep. Gaydos, Joseph M. [D-PA-20]· House

Bill Progress

Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Interstate and Foreign Commerce.(1979-03-22)

Plain Language Summary

[AI summary unavailable — showing source text] Foreign Investors Limitation Act - Amends the Securities Exchange Act of 1934 to direct the Securities and Exchange Commission to prohibit foreign citizens and entities under their control from acquiring, directly or indirectly, more than five percent of the registered voting securities or 35 percent of the registered nonvoting securities of any issuer whose securities are registered under such Act. Prohibits foreign citizens whose holdings exceed such percentages from acquiring any more securities of such issuer. Directs the Commission to provide for the registration of securities acquisitions by foreign citizens.…

Summarized by Claude AI · Non-partisan · For informational purposes only