Protecting American Business from Foreign Adversaries Act of 2022

To amend chapter 190 1. Short title This Act may be cited as the Protecting American Business from Foreign Adversaries Act of 2022 2. Registration of agent (a) In general Chapter 190 5002. Registration of an agent for the service of process on covered entities (a) In general A covered entity conducting business in the United States shall register with the Department of Commerce not less than one agent residing in the United States if the covered entity— (1) is organized under the laws of, or has its principal place of business in, a foreign country; (2) is traded in shares and such shares are held in majority by any individual or group of individuals who reside in a foreign country; or (3) is owned by individuals or other entities who reside or are headquartered outside of the United States and the majority of business earnings of the covered entity are derived from commerce outside of the United States. (b) Filing A registration required under subsection (a) shall be filed with the Department of Commerce not later than 30 days after— (1) the date of enactment of this Act; or (2) the departure of the previously registered agent from employment or contract with the covered entity. (c) Purpose of registered agent (1) Availability A covered entity shall ensure that not less than one registered agent on whom process may be served is available at the business address of the registered agent each day from 9 a.m. to 5 p.m. in the time zone of the business address, excluding Saturdays, Sundays, and Federal holidays. (2) Communication The registered agent shall be required to be available to accept service of process on behalf of the covered entity under which the agent is registered by the means of any communication included in the registration submitted to the Department of Commerce. (d) Cooperation A registered agent shall cooperate in good faith with the United States Government and representatives of other individuals and entities. (e) Required information The registration submitted to the Department of Commerce shall include the following information: (1) The name of the covered entity registering an agent under this section. (2) The name of the Chief Executive Officer, President, Partner, Chairman, or other controlling individual of the covered entity. (3) The name of the individual who is being registered as the agent for the service of process. (4) The business address of the covered entity registering an agent under this section. (5) The business address of the individual who is being registered as the agent for the service of process. (6) Contact information, including an email address and phone number for the individual who is being registered as the agent for the service of process. (7) The date on which the agent shall begin to accept service of process under this section. (f) Website The information submitted to the Department of Commerce pursuant to this section shall be made available on a publicly accessible database on the website of the Department of Commerce. (g) Personal jurisdiction A covered entity that registers an agent under this section thereby consents to the personal jurisdiction of the State or Federal courts of the State in which the registered agent is located for the purpose of any regulatory proceeding or civil action relating to such covered entity. (h) Definitions In this section: (1) Covered entity The term covered entity (A) a corporation, partnership, association, organization, or other combination of persons established for the purpose of commercial activities; or (B) a trust or a fund established for the purpose of commercial activities. (2) Department of Commerce The term Department of Commerce . (b) Clerical amendment The table of sections for chapter 190 5002. Registration of an agent for the service of process on covered entities. .

Summary: Protecting American Business from Foreign Adversaries Act of 2022 This bill requires specified companies and other entities associated with a foreign country to register an agent with the Department of Commerce for service of process (i.e., the legal process for notifying a defendant that legal action has been taken against them) in the United States. Specifically, a corporation or other commercial entity conducting business in the United States must register an agent if the entity (1) is organized under the laws of, or has its principal place of business in, a foreign country; (2) has a majority of shares held by an individual or a group of individuals who reside in a foreign country; or (3) is owned by individuals or entities who reside in or are headquartered outside of the United States and the majority of the entity's earnings are derived from commerce outside of the United States.