The California Corporate Disclosure Act was an act written by California Assemblyman Kevin Shelley and signed into law by California governor

Gray Davis Joseph Graham "Gray" Davis Jr. (born December 26, 1942) is an American attorney and former politician who served as the 37th governor of California from 1999 until he was recalled and removed from office in 2003. He is the second state governor ...

in September 2002. It became effective on 1 January 2003. The law required every

publicly traded company A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange ( ...

that does business in California to disclose certain facts about its operations and executives to state regulators. The law required companies to file this information with the

California Secretary of State The secretary of state of California is the chief clerk of the U.S. state of California, overseeing a department of 500 people. The Secretary of state (U.S. state government), secretary of state is elected for four year terms, like the state's o ...

's office.

Provisions

The California Disclosure Act changed the substance and timing required to be filed with the

for all U.S. — as well as foreign — corporations that are either incorporated in California or that do business in California.

References

External links

Text of the bill
from the California Legislature California law {{US-law-stub