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Posted: Today 4:31:53 AM EDT
The new law, Assembly Bill 979, directs corporations to appoint leaders from under-represented communities defined as people who identify as Black, Latino, Native American, Asian American, Pacific Islander, native Hawaiian or native Alaskan. Companies also can comply with the law by appointing directors who self-identify as gay, lesbian, bisexual or transgender.
The law requires corporations to have at least one director from an under-represented community by the end of 2021. Additionally, corporations with more than four directors, but fewer than nine, would require a minimum of two diverse directors
A corporation with nine or more directors must have at least three directors from an under-represented community by 2022 to comply with the law.
Companies that don't comply with the law could face fines between $100,000 and $300,000, according to Holden's office. The fines will be imposed by the Secretary of State
Be cheaper to pay the fines.
https://www.sacbee.com/news/politics-government/capitol-alert/article246016865.html
What did someone say about judging people by their character rather than their color
Online
Joined Jun 2013
Posts 4584
EE 0% (0)
USA TX, USA
group
Posted: Today 4:31:53 AM EDT
The new law, Assembly Bill 979, directs corporations to appoint leaders from under-represented communities defined as people who identify as Black, Latino, Native American, Asian American, Pacific Islander, native Hawaiian or native Alaskan. Companies also can comply with the law by appointing directors who self-identify as gay, lesbian, bisexual or transgender.
The law requires corporations to have at least one director from an under-represented community by the end of 2021. Additionally, corporations with more than four directors, but fewer than nine, would require a minimum of two diverse directors
A corporation with nine or more directors must have at least three directors from an under-represented community by 2022 to comply with the law.
Companies that don't comply with the law could face fines between $100,000 and $300,000, according to Holden's office. The fines will be imposed by the Secretary of State
Be cheaper to pay the fines.
https://www.sacbee.com/news/politics-government/capitol-alert/article246016865.html
What did someone say about judging people by their character rather than their color