Effective 5/13/2014 16-10b-102. Application and effect of chapter. (1) This chapter applies to a benefit corporation organized under this chapter. (2) The existence of a provision of this chapter does not of itself create an implication that a contrary or different rule of law is applicable to a business corporation that is not a benefit […]
Effective 5/13/2014 16-10b-104. Incorporation of benefit corporation. A person shall incorporate a benefit corporation in accordance with Chapter 10a, Part 2, Incorporation, but its articles of incorporation shall also state that it is a benefit corporation. Enacted by Chapter 394, 2014 General Session
Effective 5/13/2014 16-10b-105. Election of benefit corporation status. (1) A business corporation may become a benefit corporation under this chapter by amending its articles of incorporation so that the articles of incorporation contain, in addition to the requirements of Section 16-10a-202, a statement that the corporation is a benefit corporation. To be effective, the amendment […]
Effective 5/13/2014 16-10b-106. Termination of benefit corporation status. (1) A benefit corporation may terminate its status as a benefit corporation and cease to be subject to this chapter by amending its articles of incorporation to delete the provision required by Section 16-10b-104 or 16-10b-105 to be stated in the articles of incorporation of a benefit […]
