/>iA California corporation or a foreign corporation that has registered to transact intrastate business in California may be required to file either one or two annual statements with the Secretary of State. It may also be subject to California's quota requirements with respect to the number of directors who self-identify as female and/or members of underrepresented communities. The California Secretary of State's Women on Boards webpage includes a handy flow-chart depicting the application of these requirements:
As discussed in yesterday's post, I question the Secretary of State's definition of "publicly held corporation" that determines whether a corporation is subject to the female and underrepresented communities quotas.
