Senator Sylvia Santana has introduced a bill that aims to add females to the boards of publicly held companies. The bill would require a minimum number of female board members of publicly held corporations, and would apply to both domestic and foreign corporations with principal executive offices in Michigan. The first of many sections of the bill states that a publicly held domestic or foreign corporation with principal executive offices in Michigan must have at least one female director on their board by Jan. 1, 2021 to comply.
Senate Bill No. 115 was introduced last month and has been referred to the Committee on Economic and Small Business Development.