TITLE 7
Corporations, Associations, and Partnerships
CHAPTER 7-5.3
Benefit Corporations
SECTION 7-5.3-6
§ 7-5.3-6 Corporate purposes.
(a) A benefit corporation shall have a purpose of creating general public
benefit. This purpose is in addition to its purpose under § 7-1.2-301.
(b) The articles of incorporation of a benefit corporation
may identify one or more specific public benefits that it is the purpose of the
benefit corporation to create in addition to its purposes under §
7-1.2-301 and subsection (a). The identification of a specific public benefit
under this subsection does not limit the purpose of a benefit corporation to
create general public benefit under subsection (a).
(c) The creation of general public benefit and specific
public benefit under subsections (a) and (b) is in the best interests of the
benefit corporation.
(d) A benefit corporation may amend its articles of
incorporation to add, amend, or delete the identification of a specific public
benefit that it is the purpose of the benefit corporation to create. In order
to be effective, the amendment must be adopted by at least the minimum status
vote.
History of Section.
(P.L. 2013, ch. 487, § 1; P.L. 2013, ch. 500, § 1.)