Title 4, Business and Commercial Law

(a) An existing business corporation may become a benefit corporation under this chapter by amending its articles of incorporation so that they contain, in addition to the requirements of § 4-27-202, a statement that the corporation is a benefit corporation. (b) To be effective, …

(a) A benefit corporation may end its benefit corporation status and not be subject to this chapter by amending its articles of incorporation to delete the statement in the articles of incorporation required by § 4-36-104 or § 4-36-105 to be stated in the articles of incorporatio…

(a) A benefit corporation shall have a purpose of creating a general public benefit and it is in addition to its purpose under § 4-36-103(a)(5). (b) (1) The articles of incorporation of a benefit corporation may identify one (1) or more specific public benefits that it is the pur…

(a) In discharging the duties of their respective positions and in considering the best interests of the benefit corporation, the board of directors, committees of the board, and individual directors of a benefit corporation:(1) Shall consider the effects of an action or inaction…

(a) The board of directors of a benefit corporation may include a director who:(1) Is designated the benefit director; and(2) Has the powers, duties, rights, and immunities provided in this subchapter in addition to the powers, duties, rights, and immunities of the other director…

(a) An officer of a benefit corporation shall consider the interests and factors described in § 4-36-301 if:(1) The officer has discretion to act with respect to a matter; and(2) It reasonably appears to the officer that the matter may have a material effect on the creation by th…

(a) A benefit corporation may have an officer designated as the benefit officer. (b) A benefit officer shall have:(1) The powers and duties relating to the purpose of the corporation to pursue a general public benefit or a specific public benefit provided:(A) By the bylaws; or(B)…

(a) Except in a benefit enforcement proceeding, a person may not bring an action or assert a claim against a benefit corporation or its directors or officers with respect to:(1) Failure to pursue or create a general public benefit or a specific public benefit stated in its articl…

(a) (1) A benefit corporation shall prepare an annual benefit report and an annual franchise tax report under § 26-54-104.(2) An annual benefit report shall include:(A) A narrative description of:(i) The ways in which the benefit corporation pursued the general public benefit dur…