Section 9: General public benefit; specific public benefit
203 words·~1 min read·
/ma/part-i/title-xxii/chapter-156e/9·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 9.
(a)In addition to its purposes under chapter 156D as a business corporation, a benefit corporation shall have the purpose of creating general public benefit.
(b)The articles of organization of a benefit corporation may identify 1 or more specific public benefits that it is the purpose of the benefit corporation to create in addition to its purpose as a business corporation and under subsection (a). The identification of a specific public benefit under this subsection shall not limit the obligation of a benefit corporation under subsection (a).
(c)The creation of a general public benefit and a specific public benefit under subsections
(a)and
(b)shall be in the best interest of the benefit corporation.
(d)A benefit corporation may amend its articles of organization to add, amend or delete the identification of a specific public benefit under chapter 156D; provided, however, that the elimination of an optional specific public benefit shall not significantly diminish or eliminate the general public benefit required in this subsection.
(e)A professional corporation that is a benefit corporation shall not be in violation of section 3 of chapter 156A by having the purpose to create a general public benefit or a specific public benefit.