California Becomes the First State to Require Women on Corporate Boards

On September 30, 2018, Governor Jerry Brown signed Senate Bill 826 making California the first state to require corporate boards to include women. Among other requirements, the law requires all publicly held corporations with principal executive offices in California to have at least one female director on the board by the end of 2019. By the end of July 2021, a minimum of two women must sit on boards with five members, and a minimum of three women must sit on boards with six or more members. Punishments for non-compliance include a $100,000 fine for the first violation and a $300,000 fine for subsequent violations. The full bill is available here.