Benefit corporation definition

Benefit corporation means a corporation that sets forth in its articles of incorporation one or more beneficial purposes among the purposes for which the corporation is formed.

Benefit corporation means a domestic corporation that has elected to become subject to this chapter and that has not terminated its status as a benefit corporation pursuant to Section 33‑38‑220.

Benefit corporation means a corporation organized under

Examples of Benefit corporation in a sentence

• Definitions.23 (a) The following definitions apply to this Article:24 (1) Benefit corporation.

• Benefit corporation legislation, however, does offer legal clarity, transparency, and accountability for businesses, consumers, and investors interested in corporate social responsibility.

• The most expansive constituency statutes only create the potential for directors to consider the effects of their decisions on non-shareholder interests, but never allow directors to consider stakeholders’ interest above shareholders’ financial interests.146 Benefit corporation legislation provides broader discretion for directors to consider stakeholders’ interest and the furtherance of the corporation’s general public benefit and any identified specific public benefits.

• Benefit corporation legislation requires a two-thirds supermajority vote in order for a traditional corporation to convert into a benefit corporation.147 This enables shareholders to help decide whether they want their current investment to be converted into an investment in a benefit corporation.

• Benefit corporation legislation also creates statutory law that protects shareholders.

More Definitions of Benefit corporation

Benefit corporation means a corporation that both:

Benefit corporation means a business corporation (A) that has

Benefit corporation means a business corporation (A) that has elected to become subject to the provisions of chapter 604 of the general statutes, and (B) whose status as a benefit corporation has not been terminated pursuant to section 33-1356 of the general statutes, as amended by this act.

Benefit corporation means a business corporation (A) that has elected to become subject to the provisions of sections 33-1352 to 33-1364, inclusive, as amended by this act, and (B) whose status as a benefit corporation has not been terminated pursuant to section 33-1356, as amended by this act.

Benefit corporation means a business corporation:

Benefit corporation means a corporation as defined in section 1.40 of this title whose articles of incorporation include the statement “This corporation is a benefit corporation.”

Benefit corporation means a business corporation (A) that has elected to become subject to the provisions of sections 142 to 154, inclusive, of this act, and (B) whose status as a benefit corporation has not been terminated pursuant to section 146 of this act.