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United States - New Jersey 1

North America

S798

Applicable to

Gender

Yes

Minorities

LGBTQ+

Veterans

Key requirements

a. By December 31, 2019, a publicly held domestic or foreign corporation whose principal executive office is located in this State shall have a minimum of one female director on its board. A corporation may increase the number of directors, pursuant to N.J.S.14A:6-2, on its board to comply with this section.

b. By December 31, 2021, a publicly held domestic or foreign corporation whose principal executive office is located in this State shall comply with the following:

(1) a corporation with six or more directors shall have a minimum of three female directors;

(2) a corporation with five directors shall have a minimum of two female directors; or

(3) a corporation with four or fewer directors shall have a minimum of one female director.

Scope

All publicly held domestic or foreign corporations whose principal executive office is located in this State

Penalties

For failure to file board member information in a timely manner with the Secretary of State (pending before the Legislature as this bill), a corporation shall be subject to a civil penalty of $100,000.

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