California Corporations Code

§ 301.4

CORP § 301.4 Effective Jan 1, 2021Div. 1 · Title 1 · Ch. 3

Statute text

(a)No later than the close of the 2021 calendar year, a publicly held domestic or foreign corporation whose principal executive offices, according to the corporation’s SEC 10-K form, are located in California shall have a minimum of one director from an underrepresented community on its board. A corporation may increase the number of directors on its board to comply with this section.

(b)No later than the close of the 2022 calendar year, a publicly held domestic or foreign corporation whose principal executive offices, according to the corporation’s SEC 10-K form, are located in California shall comply with the following:

(1)If its number of directors is nine or more, the corporation shall have a minimum of three directors from underrepresented communities.

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Legislative history

Added by Stats. 2020, Ch. 316, Sec. 3. (AB 979) Effective January 1, 2021.