CA AB1840

Expands the definition of "director from an underrepresented community" to include individuals who self-identify as Armenian, Assyrian, Greek, Jewish, Muslim, or Sikh, or who have a disability.

Requires publicly held corporations with principal executive offices in California to have minimum board representation from underrepresented communities: one director by end of 2021, and by end of 2022, either one, two, or three directors depending on board size.

Requires the Secretary of State to annually report on compliance rates, corporate headquarters relocations, and publicly traded status changes of affected corporations.

Authorizes the Secretary of State to impose fines of $100,000 for failure to file board information or first violations, and $300,000 for subsequent violations of the diversity requirements.

Fines collected shall be available upon appropriation for the Secretary of State to offset administrative costs of implementing this section.