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Statutes Text

Article - Corporations and Associations


    (a)    (1)    Each benefit corporation shall have the purpose of creating a general public benefit.

        (2)    The purpose described in paragraph (1) of this subsection is in addition to, and may be a limitation on, the purposes of the corporation under § 2–101 of this article.

    (b)    (1)    In addition to its purposes under § 2–101 of this article and subsection (a) of this section, the charter of a benefit corporation may identify as one of the purposes of the benefit corporation the creation of one or more specific public benefits.

        (2)    The identification in its charter of a specific public benefit purpose under paragraph (1) of this subsection does not limit the obligation of a benefit corporation to create a general public benefit.

    (c)    The creation of a general public benefit or specific public benefit as provided in subsections (a) and (b) of this section is in the best interests of the benefit corporation.

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