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  • PART I ADMINISTRATION OF THE GOVERNMENT
  • TITLE XXII CORPORATIONS
  • CHAPTER 156E BENEFIT CORPORATIONS

Section 1 - Short title

Section 2 - Definitions

Section 3 - Compliance with chapters 156A and 156D; authority of this chapter over articles of organization, bylaws or shareholder agreement of benefit corporation

Section 4 - Organization of benefit corporation

Section 5 - Election by existing corporation to convert to benefit corporation

Section 6 - Termination of status as benefit corporation

Section 7 - Prohibition against advertising as benefit corporation without full compliance with this chapter

Section 8 - Creation for benefit corporation resulting from merger, share exchange or conversion

Section 9 - General public benefit; specific public benefit

Section 10 - Board of directors, committees and individual directors; consideration of best interests of corporation; non-liability for monetary damages

Section 11 - Benefit director; powers and duties; election and removal annual shareholder’s report; non-liability

Section 12 - Officers; consideration of interests and factors of Sec. 10, subsec. (a); non-liability for monetary damages

Section 13 - Benefit officer; powers and duties

Section 14 - Benefit enforcement proceeding

Section 15 - Annual benefit report

Section 16 - Timing of annual benefit report sent to shareholders; posting on website; copy to state secretary