[§420D-9] Benefit officer.
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/hi/420d-9A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
[§420D-9] Benefit officer.
(a)A sustainable business corporation may have an officer designated as the benefit officer who shall have the authority and shall perform the duties in the management of the sustainable business corporation relating to the purpose of the corporation to create general or specific public benefit as may be provided by or pursuant to the bylaws or, in the absence of controlling provisions in the bylaws, as may be determined by or pursuant to resolutions or orders of the board of directors. If a sustainable business corporation has a benefit officer, the duties of the benefit officer shall include preparing the benefit report required by section 420D-11.
(b)A benefit officer shall be independent of and shall have no material relationship with the sustainable business corporation. [L 2011, c 209, pt of §1]