S798

United States - New Jersey 1

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

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.

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.