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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 15 U.S.C. § 78n2 Corporate governance us united_states_code code_section 15 COMMERCE AND TRADE 2B SECURITIES EXCHANGES 78n2 15 U.S.C. § 78n2 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc15@119-100.zip /us/usc/t15/s78n2 data/legal/raw/us/code/title-15/usc15.xml 87410f0a9632cf18bcb7d73e61f8291dce23e0f190be9c3a298754f46b95d3d7 6982338d990ef19d6b52bff6825089bdd6d0ee1233d9382673faf533decd5059 754a15353aec705050b51c709a02c550595f83c8d5b82035e25c84f65d87fde4 2026-07-04 official
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15 U.S.C. § 78n2 - Corporate governance

Text

Not later than 180 days after July 21, 2010, the Commission shall issue rules that require an issuer to disclose in the annual proxy sent to investors the reasons why the issuer has chosen—

(1) the same person to serve as chairman of the board of directors and chief executive officer (or in equivalent positions); or

(2) different individuals to serve as chairman of the board of directors and chief executive officer (or in equivalent positions of the issuer).

(June 6, 1934, ch. 404, title I, § 14B, as added Pub. L. 111203, title IX, § 972, July 21, 2010, 124 Stat. 1915.)

Notes

Editorial Notes

Codification July 21, 2010, referred to in text, was in the original “the date of enactment of this subsection”, and was translated as meaning the date of enactment of Pub. L. 111203, which enacted this section, to reflect the probable intent of Congress.

Statutory Notes and Related Subsidiaries

Effective DateSection effective 1 day after July 21, 2010, except as otherwise provided, see section 4 of Pub. L. 111203, set out as a note under section 5301 of Title 12, Banks and Banking.