§ 3311. Corporate purposes.
237 words·~1 min read·
/pa/title-15/chapter-33/3311A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 3311. Corporate purposes.
(a)General public benefit purpose.-- A benefit corporation shall have a purpose of creating general public benefit. This purpose is in addition to its purpose under section 1301 (relating to purposes).
(b)Optional specific public benefit purpose.-- The articles 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 section 1301 and subsection (a). The identification of a specific public benefit does not limit the obligation of a benefit corporation to create general public benefit.
(c)Effect of purposes.-- The creation of general and specific public benefit as provided in subsections
(a)and
(b)is in the best interests of the benefit corporation.
(d)Amendment.-- A benefit corporation may amend its articles to add, amend or delete the identification of a specific public benefit that it is the purpose of the benefit corporation to create. The amendment shall not be effective unless it is adopted by at least the minimum status vote.
(e)Professional corporations.-- A professional corporation that is a benefit corporation does not violate section 2922(a) (relating to stated purposes) by having the purpose to create general public benefit or a specific public benefit.
15c3321h
SUBCHAPTER C
ACCOUNTABILITY
Sec.
3321. Standard of conduct for directors.
3322. Benefit director.
3323. Standard of conduct for officers.
3324. Benefit officer.
3325. Right of action.
15c3321s