Title 15, CORPORATIONS AND UNINCORPORATED ASSOCIATIONS

(a) Amendment.--A benefit corporation may terminate its status as a benefit corporation and cease to be subject to this chapter by amending its articles to delete the provision required under section 3304 (relating to election of benefit corporation status) to be stated in the ar…

(a) General public benefit purpose.--A benefit corporation shall have a purpose of creating general public benefit. This purpose is in addition to its purpose under section 1301 (relating to purposes). (b) Optional specific public benefit purpose.--The articles of a benefit corpo…

(a) Consideration of interests.--Without regard to whether the benefit corporation is subject to section 1715 (relating to exercise of powers generally) or 1716 (relating to alternative standard), in discharging the duties of their respective positions, the board of directors, co…

(a) General rule.-- (1) The board of directors of a benefit corporation which is a registered corporation shall include a director who: (i) shall be designated as the benefit director; and (ii) shall have, in addition to all of the powers, duties, rights and immunities of the oth…

(a) General rule.--Each officer of a benefit corporation shall consider the interests and factors described in section 3321(a) (relating to standard of conduct for directors) in the manner provided in that subsection when: (1) the officer has discretion to act with respect to a m…

A benefit corporation may have an officer designated as the benefits officer who shall have such authority and shall perform such duties in the management of the benefit corporation relating to the purpose of the corporation to create general or specific public benefit as may be …

(a) Limitations.-- (1) Except in a benefit enforcement proceeding, no person may bring an action or assert a claim against a benefit corporation or its directors or officers with respect to: (i) failure to pursue or create general public benefit or a specific public benefit set f…

(a) Contents.--A benefit corporation must deliver to each shareholder an annual benefit report including: (1) A narrative description of: (i) the ways in which the benefit corporation pursued general public benefit during the year and the extent to which general public benefit wa…