The Corporate Crime Reporting Act
did not appear on the November 4, 2008
statewide ballot in California
as an initiated state statute
. The measure was withdrawn. The measure called for promoting honesty in the corporate culture by requiring them to report omissions or fraudulent information to the Attorney General
The Purposes and Intents of the initiative read:
- (a) Require directors, officers, members and managers of foreign and domestic corporations and limited liability companies to report acts or omissions by the corporation or limited liability company that violate the law to the Attorney General or
the appropriate government agency.
- (b) Impose criminal penalties against corporate directors, office rs, members and managers who fail to report their corporation or limited liability company's unlawful activities to the Attorney General or the appropriate government agency.
James C. Harrison
Margaret R. Prinzing
Remcho, Johansen & Purcell, LLP