Michigan Bill Would Require At Least 3 Women On All Corporate Boards
View Source | April 11, 2023 5:09 pm
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- A publicly held domestic or foreign corporation with Michigan-based principal executive offices must have at least three female directors on a board by 2026 under legislation proposed by Sen. Sylvia Santana (D-Detroit).
- Santana’s SB 242 could face criticism due to it being based on a California state law requiring that by the end of 2021, each publicly traded corporation with principal executive offices in the state must have at least one female director for boards with four or fewer directors. Those with boards with six or more directors would need to have at least three female directors.
- In May 2022, a Superior Court judge in Los Angeles ruled that the law violated the right to equal treatment under the state’s constitution.
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