Sec. 4.15. Benefit officer.
86 words·~1 min read·
/il/chapter-805/act-40/4-15A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 4.15. Benefit officer.
(a)A benefit corporation may have an officer designated as the benefit officer.
(b)A benefit officer shall have:
(1)powers and duties relating to the purpose of the benefit corporation to create
general public benefit or specific public benefit provided:
(A)by the bylaws of the benefit corporation; or
(B)absent controlling provisions in the bylaws, by resolutions or orders of the
board of directors; and
(2)the duty to prepare the benefit report required by Section 5.01 of this Act.