|HB3394 Engrossed||LRB101 11207 TAE 56454 b|
AN ACT concerning business.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
The Business Corporation Act of 1983 is amended
by adding Section 8.10.1 as follows:
(805 ILCS 5/8.10.1 new)
Composition of board of directors.
(a) No later than the close of the 2020 calendar year, a
publicly held domestic or foreign corporation whose principal
executive offices, according to the corporation's SEC 10-K
form, are located in Illinois shall have a minimum of one
female director and one African American director on its board
of directors. A corporation may increase the number of
directors on its board to comply with this Section.
(b) No later than July 1, 2020, the Secretary of State
shall publish a report on its website documenting the number of
domestic and foreign corporations whose principal executive
offices, according to the corporation's SEC 10-K form, are
located in Illinois and that have at least one female director
and one African American director.
(c) No later than March 1, 2021, and annually thereafter,
the Secretary of State shall publish a report on its Internet
website regarding, at a minimum, the following: