13-C §1702. Application to qualified foreign corporations
§1702. Application to qualified foreign corporations A foreign corporation authorized to transact business in this State on the effective date of this Act is subject to this Act but is not required to obtain a new certificate of authority to transact business under this Act. [PL 2001, c. 640, Pt. A, §2 (NEW); PL […]
13-C §1801. Application and effect of chapter
§1801. Application and effect of chapter 1. Application of chapter. This chapter applies to all benefit corporations. [PL 2019, c. 328, §1 (NEW).] 2. Application of corporation law generally. This chapter does not create an implication that a contrary or different rule of law applies to a corporation that is not a benefit corporation. […]
13-C §1802. Definitions
§1802. Definitions As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 2019, c. 328, §1 (NEW).] 1. Benefit corporation. “Benefit corporation” means a corporation: A. That has elected to become subject to this chapter pursuant to section 1804; and [PL 2019, c. 328, […]
13-C §1803. Incorporation of benefit corporation
§1803. Incorporation of benefit corporation A benefit corporation must be incorporated in accordance with chapter 2, and its articles of incorporation must state that it is a benefit corporation. [PL 2019, c. 328, §1 (NEW).] SECTION HISTORY PL 2019, c. 328, §1 (NEW).
13-C §1804. Election of benefit corporation status
§1804. Election of benefit corporation status 1. Existing corporation. An existing corporation may become a benefit corporation under this chapter by amending its articles of incorporation so that they contain, in addition to the requirements of section 202, a statement that the corporation is a benefit corporation. In order to be effective, the amendment must […]
13-C §1805. Termination of benefit corporation status
§1805. Termination of benefit corporation status 1. Termination. A benefit corporation may terminate its status as such and cease to be subject to this chapter by amending its articles of incorporation to delete the provision required by section 1803 or 1804 to be stated in the articles of a benefit corporation. In order to be […]
13-C §1811. Corporate purposes
§1811. Corporate purposes 1. General public benefit purpose. A benefit corporation must have a purpose of creating general public benefit. This purpose is in addition to its purpose under section 301. [PL 2019, c. 328, §1 (NEW).] 2. Optional specific public benefit purpose. The articles of incorporation of a benefit corporation may identify one […]
13-C §1821. Standard of conduct for directors
§1821. Standard of conduct for directors 1. Consideration of interests. In discharging the duties of their respective positions and in considering the best interests of the benefit corporation, the board of directors, committees of the board and individual directors of a benefit corporation shall consider the effects of any action or inaction upon: A. […]
13-C §1822. Benefit director
§1822. Benefit director 1. General rule. The board of directors of a benefit corporation that is a public corporation shall, and the board of any other benefit corporation may, include a director, who: A. Is designated the benefit director; and [PL 2019, c. 328, §1 (NEW).] B. Has, in addition to the powers, […]
13-C §1823. Standard of conduct for officers
§1823. Standard of conduct for officers 1. General rule. An officer of a benefit corporation shall consider the interests and factors described in section 1821, subsection 1 in the manner provided in section 1821, subsection 1 if: A. The officer has discretion to act with respect to a matter; and [PL 2019, c. […]