Prior Approval Reform Act
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Bill details
Summary
Introduced in House
Prior Approval Reform Act This bill allows a trade association or a separate segregated fund established by a trade association to solicit contributions from a member corporation's stockholders and executive or administrative personnel and their families without the approval of the member corporation. Such a solicitation may be made by more than one trade association in a calendar year.
District impact notes
The Prior Approval Reform Act allows trade associations to solicit contributions from stockholders and staff of member corporations without needing their approval. • This policy could impact local trade associations and their fundraising efforts, potentially affecting their activities and initiatives. • It may also influence how member corporations engage with trade associations, which could affect local business relationships. • A possible concern is how this change might affect the oversight of fundraising practices and the relationship dynamics between corporations and trade associations. AI-generated from official bill summary and plain-English note; verify with official text.
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Primary sources
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