§ 5-6C-06
156 words·~1 min read·
/md/corporations-and-associations/5-6c-06·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§5–6C–06.
(1)Each benefit corporation shall have the purpose of creating a general public benefit.
(2)The purpose described in paragraph
(1)of this subsection is in addition to, and may be a limitation on, the purposes of the corporation under § 2–101 of this article.
(1)In addition to its purposes under § 2–101 of this article and subsection
(a)of this section, the charter of a benefit corporation may identify as one of the purposes of the benefit corporation the creation of one or more specific public benefits.
(2)The identification in its charter of a specific public benefit purpose under paragraph
(1)of this subsection does not limit the obligation of a benefit corporation to create a general public benefit.
(c)The creation of a general public benefit or specific public benefit as provided in subsections
(a)and
(b)of this section is in the best interests of the benefit corporation.