SECTION 1. Section 8.03 of chapter 156D of the General Laws is hereby amended by inserting the following subsection:-
(e) Not less than two-fifths of the directors of a corporation shall be elected by the employees of the corporation using an election process. A director elected by the employees shall have the same rights and powers and shall be subject to the same duties and responsibilities as a director elected by the stockholders.
(f) subsection (e) shall apply only to corporations that have more than $100,000,000 in gross receipts in a given taxable year.
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