Skip to content

Menu

LexBlog, Inc. logo
CommunitySub-MenuPublishersChannelsProductsSub-MenuBlog ProBlog PlusBlog PremierMicrositeSyndication PortalsAboutContactResourcesSubscribeSupport
Join
Search
Close

California Requires Board Diversity and Additional Company Disclosures

By Harold R. Jones on October 31, 2020
Email this postTweet this postLike this postShare this post on LinkedIn

On September 30, 2020, California Governor Gavin Newsom signed a bill into law requiring publicly held corporations to further diversify their boards of directors. He also signed a bill requiring that corporations and limited liability companies make additional disclosures.

Assembly Bill 979 (AB 979) adds Section 301.4 to the California Corporations Code. This Section requires corporations to have at least one director from an underrepresented community on their boards of directors by the close of the 2021 calendar year, with increases the following year for boards of certain sizes. Under the law, “‘[d]irector from an underrepresented community’ means an individual who self-identifies as Black, African American, Hispanic, Latino, Asian, Pacific Islander, Native American, Native Hawaiian, or Alaska Native, or who self-identifies as gay, lesbian, bisexual, or transgender.” A corporation may increase the number of directors on its board to comply with the law. The law applies to publicly held domestic or foreign corporations with principal executive offices in California. For more on AB 979, see: https://www.californiaworkplacelawblog.com/2020/09/articles/diversity/ab-979-requires-california-based-publicly-held-corporations-to-diversify-their-boards-of-directors/

Assembly Bill 3075 (AB 3075) requires a corporation or limited liability company to disclose whether any officer or any director (or any member or manager, if a limited liability company) has an outstanding final judgment issued by a court or California’s Division of Labor Standards Enforcement for violation of the California Labor Code or any wage order. The new disclosure requirement will take effect no later than January 1, 2022, and possibly sooner as set forth in the law. For more on AB 3075, see: https://www.californiaworkplacelawblog.com/2020/10/articles/california/new-requirements-for-corporations-statement-of-information/

If you have questions about the effects of these or other recent legislation, please contact a Jackson Lewis attorney to discuss.

  • Posted in:
    Corporate & Commercial, Corporate Compliance
  • Blog:
    Corporate Governance & Internal Investigations Advisor
  • Organization:
    Jackson Lewis P.C.
  • Article: View Original Source

LexBlog, Inc. logo
Facebook LinkedIn Twitter RSS
Real Lawyers
99 Park Row
  • About LexBlog
  • Careers
  • Press
  • Contact LexBlog
  • Privacy Policy
  • Editorial Policy
  • Disclaimer
  • Terms of Service
  • RSS Terms of Service
  • Products
  • Blog Pro
  • Blog Plus
  • Blog Premier
  • Microsite
  • Syndication Portals
  • LexBlog Community
  • 1-800-913-0988
  • Submit a Request
  • Support Center
  • System Status
  • Resource Center

New to the Network

  • Innocelf Knowledge
  • Labor & Employment Blog
  • Morea Law Blog
  • Privacy World
  • Known Trends
Copyright © 2023, LexBlog, Inc. All Rights Reserved.
Law blog design & platform by LexBlog LexBlog Logo