Senate Bill 6037 signed by the governor March 27 and effective June 12 enacted the Women on Corporate Boards Act requiring each public company to have a gender-diverse board of directors or comply with specific requirements no later than January 1, 2022 and amended the Business Corporation Act to remove the list of optional and default provisions in the articles of incorporation and by-laws. Senate Bill 6037 (Chapter 194) signed by the governor March 27 and effective June 11 amends the Business Corporations Act.
June 12, 2020