HB 757: Benefit Corporations
GENERAL BILL by Clemens ; (CO-INTRODUCERS) Kriseman
Benefit Corporations; Provides for organization of benefit corporations; provides for existing corporations to become benefit corporations; authorizes corporation to terminate its status as benefit corporation; requires corporate purposes set forth in articles of incorporation of benefit corporation to include certain public benefits; authorizes benefit corporations to set forth certain public benefit purposes in their bylaws; authorizes board of directors of benefit corporation to adopt certain public benefit purposes for corporation; prescribes certain standards of conduct for, & limits liability of, directors of benefit corporations; limits liability of officers of benefit corporation; authorizes benefit corporation to bring enforcement actions for certain claims against directors & officers of corporation; provides for commencement & maintenance of proceedings; requires benefit corporation to submit an annual benefit report to DOS & corporation's shareholders; provides for public disclosure of annual benefit reports.
Last Action: 3/9/2012 House - Died in Business and Consumer Affairs Subcommittee
Bill Text: Web Page | PDF
Bill History
| Date | Chamber | Action |
|---|---|---|
| 11/22/2011 | House |
• Filed |
| 11/29/2011 | House |
• Referred to Business and Consumer Affairs Subcommittee; Civil Justice Subcommittee; Rulemaking and Regulation Subcommittee; Economic Affairs Committee -HJ 75 |
| 1/10/2012 | House |
• Introduced -HJ 74 |
| 3/9/2012 | House |
• Died in Business and Consumer Affairs Subcommittee |