(a) No person may bring an action or assert a claim against a benefit corporation or its directors or officers with respect to failure to pursue or create general public benefit or a specific public benefit set forth in its articles of incorporation or violation of a duty or standard of conduct under this Act except in a benefit enforcement proceeding.
     (b) A benefit enforcement proceeding may be commenced or maintained only:

Terms Used In Illinois Compiled Statutes 805 ILCS 40/4.20

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.

         (1) directly by the benefit corporation; or
         (2) derivatively by:
             (A) a shareholder;
             (B) a director;
             (C) a person or group of persons that owns
        
beneficially or of record 5% or more of the equity interests in an entity of which the benefit corporation is a subsidiary; or
            (D) other persons as specified in the articles
        
of incorporation or bylaws of the benefit corporation.
    (c) A benefit corporation shall not be liable for monetary damages under this Act for any failure of the benefit corporation to pursue or create general public benefit or a specific public benefit.