SB193

United States - Hawaii

Gender
Yes
Minorities
LGBTQ+
Yes
Veterans

Applicable to

All publicly traded cpmpanies in Hawaii

Key requirements

(l) Beginning no later than December 31, 2021, have a gender-diverse board; and (2) Beginning no later than December 31, 2023, have a minimum of:

(A) Three male or non—binary directors on its board; and

(B) Three female or non—binary directors on its board; provided that, if its number of directors is five, the corporation shall have at least two male or non—binary 2021-directors and at least two female or non—binary directors; provided further that, if its number of directors is four or fewer, the corporation shall have at least one male or non—binary director and at least one female or non—binary director.

Penalties

In addition to any other applicable fine or penalty, an administrative fine shall be imposed upon a corporation subject to this section for failure to timely file with the department information that is required by any rule adopted by the department.

For a first violation, the fine shall be $500. For any second violation or subsequent violation that occurs within ten years after the most recent violation, the fine shall be $1,000. In addition to any other applicable fine or penalty, an administrative fine shall be imposed upon a corporation subject to this section for failure to comply with the equitable gender representation requirements of subsection (a).

For a first violation, the fine shall be $1,000. For any second violation or subsequent violation that occurs within ten years after the most recent violation, the fine shall be $5,000. For the purposes of this subsection, each director's seat not in compliance with this section shall count as a separate violation