§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. […]
§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, […]
§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).
§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 […]
§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 […]
