Louisiana Revised Statutes > Title 12 > Chapter 27 > Part II – Corporate Purposes
Current as of: 2023 | Check for updates
|
Other versions
| § 12:1811 | A. A benefit corporation shall have a purpose of creating a general public benefit. This purpose is in addition to its purpose as described in R.S. 12:1-201 et seq. |
Terms Used In Louisiana Revised Statutes > Title 12 > Chapter 27 > Part II - Corporate Purposes
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- General public benefit: means a material positive impact on society and the environment, taken as a whole, assessed against a third-party standard, from the business and operations of a benefit corporation. See Louisiana Revised Statutes 12:1803
- Minimum vote: means :
(a) In the case of a business corporation, the approval by holders of two-thirds of the shares present and voting of each class or series and any other approval or vote required under the Business Corporation Law or the articles. See Louisiana Revised Statutes 12:1803
- Specific public benefit: means any of the following:
(a) Serving low-income or underserved individuals or communities. See Louisiana Revised Statutes 12:1803