Loading chat...

CA SB1142

Bill

Status

Introduced

2/19/2020

Primary Sponsor

Hannah-Beth Jackson

Click for details

Origin

Senate

2019-2020 Session

AI Summary

  • 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).

  • Applies to both domestic and foreign corporations whose principal executive offices are located in California according to SEC 10-K filings.

  • Defines "female" as an individual who self-identifies her gender as a woman, without regard to designated sex at birth.

  • Requires the Secretary of State to publish annual reports documenting compliance numbers, corporate relocations, and changes in public status of affected corporations.

  • 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 rescinded due to the shortened 2020 Legislative Calendar.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

Committee Referrals

Banking and Financial Institutions2/27/2020
Rules2/19/2020

Full Bill Text

No bill text available