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HI SB193

Bill

Status

Engrossed

3/5/2021

Primary Sponsor

Karl Rhoads

Click for details

Origin

Senate

2022 Regular Session

AI Summary

  • Requires publicly held domestic corporations with principal executive offices in Hawaii to have a gender-diverse board by December 31, 2021

  • Mandates minimum board representation by December 31, 2023: at least three male or non-binary directors and three female or non-binary directors (with reduced requirements for smaller boards of 4-5 members)

  • Establishes Department of Commerce and Consumer Affairs reporting requirements, including a compliance report by July 1, 2024, and annual reports beginning March 1, 2025

  • Imposes administrative fines of $500 for first violation and $1,000 for subsequent violations within 10 years for failure to file required information

  • Imposes administrative fines of $1,000 for first violation and $5,000 for subsequent violations within 10 years for non-compliance with gender representation requirements (each unfilled director seat counts as separate violation)

Legislative Description

Relating To Equitable Gender Representation On Corporate Boards.

Reports

Last Action

Carried over to 2022 Regular Session.

12/10/2021

Committee Referrals

Economic Development3/9/2021
Judiciary2/17/2021
Commerce and Consumer Protection1/25/2021

Full Bill Text

No bill text available