New Jersey A3445 mandates racial and gender diversity on boards of certain corporations.

New Jersey A3445 requires publicly held domestic or foreign corporations, with headquarters in New Jersey, to ensure their boards of directors reflect the state's racial and gender diversity. Corporations may increase the number of directors to meet this requirement. They must also file a list of all directors and their terms of service with the Secretary of State annually. Non-compliant corporations face civil penalties of $100,000 for the first violation and $300,000 for subsequent violations.

New Jersey A3445 mandates racial and gender diversity on boards of certain corporations.

New Jersey A3445 requires publicly held domestic or foreign corporations, with headquarters in New Jersey, to ensure their boards of directors reflect the state's racial and gender diversity. Corporations may increase the number of directors to meet this requirement. They must also file a list of all directors and their terms of service with the Secretary of State annually. Non-compliant corporations face civil penalties of $100,000 for the first violation and $300,000 for subsequent violations.