Bill > SB826

This bill requires publicly held domestic or foreign corporations with principal executive offices located in California to have a minimum number of female directors on their boards of directors. By the close of 2019, corporations must have at least one female director, and by the close of 2021, the minimum number increases to two female directors for corporations with five directors or three female directors for corporations with six or more directors. The Secretary of State is required to publish reports on compliance with these requirements and is authorized to impose fines for violations. The bill defines "female" as an individual who self-identifies as a woman, regardless of their designated sex at birth, and "publicly held corporation" as a corporation with outstanding shares listed on a major U.S. stock exchange.