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CA SB1142
Bill
Status
2/19/2020
Primary Sponsor
Hannah-Beth Jackson
Click for details
AI Summary
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Requires publicly held corporations with principal executive offices in California to have at least one female director by the end of 2019, and increasing numbers by the end of 2021 based on board size (minimum one for boards of four or fewer, two for five directors, three for six or more).
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Applies to both domestic and foreign corporations whose principal executive offices are located in California according to SEC 10-K filings.
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Defines "female" as an individual who self-identifies her gender as a woman, without regard to designated sex at birth.
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Requires the Secretary of State to publish annual reports documenting compliance numbers, corporate relocations, and changes in public status of affected corporations.
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Authorizes the Secretary of State to impose fines of $100,000 for failures to file or first violations, and $300,000 for subsequent violations; collected fines support administration of the requirement.
Legislative Description
Corporations: board of directors.
Last Action
Referral to Com. on JUD. rescinded due to the shortened 2020 Legislative Calendar.
5/12/2020