AB1982

United States - New Jersey 2

Gender
Yes
Minorities
LGBTQ+
Veterans

Applicable to

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

Key requirements

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.

Penalties

For each director seat required to be held by a female (pending before the Legislature as this bill), which is not held by a female during at least a portion of a calendar year, a corporation shall be subject to a civil penalty of $100,000 for a first violation and $300,000 for each subsequent violation.