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HI SB193
Bill
AI Summary
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Requires publicly held domestic corporations with principal executive offices in Hawaii to have a gender-diverse board of directors by December 31, 2021
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Mandates minimum board composition by December 31, 2023: at least three male or non-binary directors and three female or non-binary directors, with scaled requirements for smaller boards (minimum one of each gender for boards with four or fewer directors)
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Establishes Department of Commerce and Consumer Affairs oversight including compliance reporting, publication of compliance data by July 1, 2024, and annual reports beginning March 1, 2025
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Imposes administrative fines for non-compliance: $500 for first failure to file required information and $1,000 for subsequent violations; $1,000 for first failure to meet gender representation requirements and $5,000 for subsequent violations within ten years
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Takes effect July 1, 2021
Legislative Description
Relating To Equitable Gender Representation On Corporate Boards.
Reports
Last Action
Referred to ECD, CPC, FIN, referral sheet 21
3/9/2021