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An ordinary corporation may change to a benefit corporation merely by stating in its approved corporate bylaws that it is a benefit corporation. [ 2 ] A company chooses to become a benefit corporation in order to operate as a traditional for-profit business while simultaneously addressing social, economic, and/or environmental needs. [ 3 ]
This is a list of benefit corporations This is a dynamic list and may never be able to satisfy particular standards for completeness. You can help by adding missing items with reliable sources .
Benefit corporation or public-benefit corporation, for profit but with positive impact; Public-benefit nonprofit corporation, chartered by a state government; New York state public-benefit corporations, quasi-governmental authorities
The New York State Constitution, Art.X, sec. 5, provides that public benefit corporations may only be created by special act of the legislature. In City of Rye v. MTA, 24 N.Y.2d 627 (1969), the court of appeals explained that "The debates of the 1938 Convention indicate that the proliferation of public authorities after 1927 was the reason for the enactment of section 5 of article X....
In the United States, a benefit corporation is a legal status conferred by state law in the US. Legislation for the passage of benefit corporation legal status has been passed in 35 states, including Delaware. [16] B Lab certification is privately issued by a non-profit organization run by people principally from the business community.
Public benefit corporations (2 C, 16 P) Pages in category "Benefit corporations" The following 36 pages are in this category, out of 36 total.
A mutual-benefit nonprofit corporation or membership corporation is a type of nonprofit corporation in the US, similar to other mutual benefit organizations found in some of common law nations, chartered by government with a mandate to serve the mutual benefit of its members.
A public-benefit nonprofit corporation [1] is a type of nonprofit corporation chartered by a U.S. state government and organized primarily or exclusively for social, educational, recreational or charitable purposes by like-minded citizens.