HB 1116: Maryland Requires Reporting on Board Female Representation
Summary
HB 1116, enacted in May 2019, requires certain corporations to report the number of female members out of the total number of board members. The law cites academic and industry studies showing companies with women on the board financially out-perform similarly situated companies with fewer or no women on the board. The law exempts privately held companies with at least 75% of the company's shareholders as family members. The law became effective in October 2019 and is set to expire on September 30, 2029.
Impacted Sectors
Additional Information
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