|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 08, 2020||referred to corporations, authorities and commissions|
|Feb 25, 2019||referred to corporations, authorities and commissions|
senate Bill S4011
Archive: Last Bill Status - In Senate Committee Corporations, Authorities And Commissions Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S4011 (ACTIVE) - Details
S4011 (ACTIVE) - Summary
Relates to the number of female directors required to serve on the board of directors of publicly traded domestic and authorized foreign corporations whose principal executive office according to the corporation's Form 10-K filed with the Securities and Exchange Commission is located within New York state; requires any such corporation to have a minimum of one female director on its board no later than December 31, 2020 and sets higher requirements to be implemented no later than December 31, 2023; requires corporations to report certain compliance information to the secretary of state and the secretary of state to disclose certain related information to the public via its website.
S4011 (ACTIVE) - Sponsor Memo
BILL NUMBER: S4011 SPONSOR: CARLUCCI TITLE OF BILL: An act to amend the business corporation law, in relation to the number of female directors required to serve on the board of directors of certain publicly held corporations PURPOSE: This bill requires publicly held domestic and foreign corporations based in New York to appoint women to their boards of directors, in order to increase gender diversity in corporate governing roles. SUMMARY OF PROVISIONS: Section 1 adds a new section 702-a to the business corporation law stat- ing no later than December 31, 2023, a publicly held domestic or foreign corporation whose principal executive office is located within this state shall comply, as applicable, with the following:
S4011 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4011 2019-2020 Regular Sessions I N S E N A T E February 25, 2019 ___________ Introduced by Sen. CARLUCCI -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities and Commissions AN ACT to amend the business corporation law, in relation to the number of female directors required to serve on the board of directors of certain publicly held corporations THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The business corporation law is amended by adding a new section 702-a to read as follows: § 702-A. APPOINTMENT OF FEMALE DIRECTORS. (A) DEFINITIONS. FOR PURPOSES OF THIS SECTION, THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS: (1) "FEMALE" MEANS AN INDIVIDUAL WHO SELF-IDENTIFIES HER GENDER AS A WOMAN, WITHOUT REGARD TO THE INDIVIDUAL'S DESIGNATED SEX AT BIRTH. (2) "PRINCIPAL EXECUTIVE OFFICE" MEANS THE PRINCIPAL EXECUTIVE OFFICE ACCORDING TO THE CORPORATION'S FORM 10-K FILED WITH THE SECURITIES AND EXCHANGE COMMISSION. (3) "PUBLICLY HELD DOMESTIC OR FOREIGN CORPORATION" MEANS A DOMESTIC CORPORATION OR AN AUTHORIZED FOREIGN CORPORATION, AS SUCH TERMS ARE DEFINED IN SUBPARAGRAPHS (A) (4) AND (A) (7) OF SECTION 102 (DEFI- NITIONS), RESPECTIVELY, WITH OUTSTANDING SHARES LISTED ON A NATIONAL SECURITIES EXCHANGE. (B)(1) NO LATER THAN DECEMBER 31, 2020, A PUBLICLY HELD DOMESTIC OR FOREIGN CORPORATION WHOSE PRINCIPAL EXECUTIVE OFFICE IS LOCATED WITHIN THIS STATE SHALL HAVE A MINIMUM OF ONE FEMALE DIRECTOR ON ITS BOARD. A CORPORATION SUBJECT TO THIS SECTION MAY INCREASE THE NUMBER OF DIRECTORS ON ITS BOARD, PURSUANT TO SECTION 702 (NUMBER OF DIRECTORS), TO COMPLY WITH THIS SECTION. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD10051-01-9
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