§ 8894. Purposes.
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/pa/title-15/chapter-88/8894A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 8894. Purposes.
(a)General public benefit purpose.-- A benefit company shall have a purpose of creating general public benefit. This purpose is in addition to its purpose under section 8818(b) (relating to characteristics of limited liability company).
(b)Optional specific public benefit purpose.-- The certificate of organization of a benefit company may identify one or more specific public benefits that it is the purpose of the benefit company to create in addition to its purposes under subsection
(a)and section 8818(b). The identification of a specific public benefit does not limit the obligation of a benefit company 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 company.
(d)Amendment.-- A benefit company may amend its certificate of organization to add, amend or delete the identification of a specific public benefit that it is the purpose of the benefit company to create. The amendment shall not be effective unless it is adopted by at least the minimum status vote.
(e)Professional companies.-- A professional company that is a benefit company does not violate a restriction on its permissible purposes or activities by having the purpose to create general public benefit or a specific public benefit.
15c8895s