Title 15, Commerce and TradeRelease 119-102
§78n–2 Corporate Governance
Title 15 › CHAPTER 2B — SECURITIES EXCHANGES › § 78n–2
Summary
Within 180 days after July 21, 2010, the Commission must require companies to explain in annual proxy why they use the same person as chairman and CEO or why they use different people.
Full Legal Text
Title 15, §78n–2
Commerce and Trade, Source: USLM XML via OLRC
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).
Legislative History
Notes & Related Subsidiaries
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. 111–203, which enacted this section, to reflect the probable intent of Congress.
Statutory Notes and Related Subsidiaries
Effective Date
Section effective 1 day after July 21, 2010, except as otherwise provided, see section 4 of Pub. L. 111–203, set out as a note under section 5301 of Title 12, Banks and Banking.
Reference
Citations & Metadata
Citation
15 U.S.C. § 78n–2
Title 15, Commerce and Trade
Last Updated
Aug 21, 2026
Release point: 119-102