Great idea! 3 strikes you're out for corporate crime

The Corporate Reform Weekly
April 14, 2003

California:
Senate committee will hold hearings on Corporate 3 Strikes Bill

The California State Judiciary Committee has agreed to hold hearings on a bill that would prohibit repeat corporate offenders from incorporating, forming, or transacting business in the state.

The bill, SB 335 (introduced by Sen. Gloria Romero), would apply a three-strikes-and-your out logic to repeat corporate criminals. Any corporation with three violations of a million dollars or more in a ten-year period would lose its state charter or, if incorporated in another state, its license to do business in California.

The bill also requires corporations to produce an annual statement of all criminal convictions, and to report its first and second offense of a million dollars or more by taking out a full-page advertisement in the largest newspaper in the state or community where the offense took place.

The hearings will begin on April 28.

To read the bill, see: http://www.leginfo.ca.gov/pub/bill/sen/sb_0301-0350/sb_335_bill_20030219_introduced.html

For more info, see: http://www.corporate3strikes.org/