Indiana Code 23-1.3-2-10. “Specific public benefit”
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Sec. 10. (a) “Specific public benefit” means a benefit that serves:
(2) other purposes or benefits beyond the strict interests of the shareholders of the benefit corporation.
(1) one (1) or more public welfare, religious, charitable, scientific, literary, or educational purposes; or
Terms Used In Indiana Code 23-1.3-2-10
- 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.
(b) The term includes the following:
(1) Providing low income or underserved individuals or communities with beneficial products or services.
(2) Promoting economic opportunity for individuals or communities beyond the creation of jobs in the normal course of business.
(3) Protecting or restoring the environment.
(4) Improving human health.
(5) Promoting the arts, sciences, or advancement of knowledge.
(6) Increasing the flow of capital to entities with a purpose to benefit society or the environment.
(7) Conferring any other particular benefit on society or the environment.
As added by P.L.93-2015, SEC.3.