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United States - Massachussets

North America

SB 2080

Applicable to

Gender

Yes

Minorities

LGBTQ+

Veterans

Key requirements

Section 57.

(a) No later than the close of the 2021 calendar year, a publicly held domestic or foreign corporation whose principal executive offices are located in the Commonwealth shall have a minimum of 1 female director 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 2023 calendar year, a publicly held domestic or foreign corporation whose principal executive offices are located in the Commonwealth shall comply with the following:
(1) If its number of directors is 6 or more, the corporation shall have a minimum of 3 female directors.
(2) If its number of directors is 5 or fewer, the corporation shall have a minimum of 2 female directors

Scope

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

Penalties

The secretary of the commonwealth may impose fines for violations of this section of up to $100,000.

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