Kentucky legislation · 2026 Regular Session
Kentucky SB183: AN ACT relating to the regulation of proxy advisory services.
Status: Chaptered, March 31, 2026
Create new sections of KRS Chapter 367 to define terms; require proxy advisors to notify and disclose certain information to shareholders in a company doing business in Kentucky and to the company that is subject to the proxy advisory service when the proxy advisor is not acting solely in the interest of shareholders, as defined, or is providing materially different advice to shareholders regarding a proxy proposal or company proposal; declare that failure to notify or disclose required information is an unfair, false, misleading, or deceptive trade practice in violation of KRS 367.170; establish remedies including civil actions; apply to proxy advisory services provided on or after the effective date of the Act.
What the bill says
An act relating to the regulation of proxy advisory services.
From the committee substitute text:
AN ACT relating to the regulation of proxy advisory services. Be it enacted by the General Assembly of the Commonwealth of Kentucky: SECTION 1. A NEW SECTION OF KRS CHAPTER 367 IS CREATED TO READ AS FOLLOWS: As used in Sections 1 to 3 of this Act: (1) "Company" means a publicly traded for-profit corporation, limited liability company, partnership, or other business entity that is doing business in this state as defined in KRS 141.010(13); (2) "Company proposal" means a proposal made by a company that is included in the company's proxy statement, including a proposal regarding director nominations or elections, executive compensation, corporate transactions and structure, auditor selection, or similar measures; (3) "Default recommendation or policy" means a system, set of rules, principles, or guidelines designed to assist with voting decisions on any company proposal or proxy proposal; (4) "Economic analysis" means a written analysis of the economic impact of a shareholder-sponsored proposal, which shall include, at a (b) Whether the board of directors of the issuer of securities opposes the shareholder-sponsored proposal and the stated reasons for the opposition; (c) Whether the shareholder-sponsored proposal is consistent with the investment policy of the shareholder receiving the advice; (d) The economic benefits and costs of implementing the shareholdersponsored proposal, as written, in the long and short term; (e) The quantifiable …
Sponsors
- Matt Nunn (R, SD-017) · primary sponsor
- Robert Mills (R, SD-004)
- Steve Rawlings (R, SD-011)
Latest actions
- : delivered to Secretary of State (Acts Ch. 10)
- : enrolled, signed by Speaker of the House
- : enrolled, signed by President of the Senate
- : passed 76-15
- : posted for consideration of Governor's veto
- : taken from Rules
- : to Rules (H)
- : received in House
- : passed 31-6
- : veto overridden
Votes
- Senate: OVERRIDE VETO FINAL PASSAGE SB 183 RSN# 4038 (March 31, 2026): 31 yea, 6 nay, passed
- House: Final Passage RCS# 388 (March 31, 2026): 76 yea, 15 nay, passed
- Senate: FINAL PASSAGE OF SB 183 w/ HCS 1 (HCS 1) RSN# 3944 (March 17, 2026): 31 yea, 6 nay, passed
- House: Pass RCS# 246 (March 13, 2026): 81 yea, 6 nay, passed
- Senate: PASS SB 183 RSN# 3811 (February 10, 2026): 32 yea, 6 nay, passed
Subjects: Commerce, Financial Responsibility, Consumer Protection, Retirement And Pensions, Fiduciaries, Investments, Attorney General, Civil Actions
Common questions
- What is SB183?
- SB183 is a bill in the Kentucky Legislature (2026 Regular Session): AN ACT relating to the regulation of proxy advisory services.
- What does SB183 do?
- In its own words: An act relating to the regulation of proxy advisory services.
- What is the status of SB183?
- Chaptered as of March 31, 2026. Latest action: delivered to Secretary of State (Acts Ch. 10) (March 31, 2026).
- Who sponsored SB183?
- Matt Nunn (R, SD-017), with 2 co-sponsors.
- Where is the official record for SB183?
- On the Kentucky Legislature website: https://apps.legislature.ky.gov/record/26rs/sb183.html
Source: official Kentucky record. Tracked by Delilah, AI for legislation across all 50 states and Congress.