Terms Used In Louisiana Revised Statutes > Title 12 > Chapter 27 > Part IV - Transparency

• Benefit officer: means the individual designated as the benefit officer of a benefit corporation pursuant to La. See Louisiana Revised Statutes 12:1803
• 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
• Specific public benefit: means any of the following:

  (a)  Serving low-income or underserved individuals or communities. See Louisiana Revised Statutes 12:1803

• Third-party standard: means a recognized standard for defining, reporting, and assessing the performance of corporations in producing general public benefit and specific public benefits which is all of the following:

  (a)  Comprehensive in that it assesses the effect of the corporation and its operations in producing general public benefit and any specific public benefit specified in the articles. See Louisiana Revised Statutes 12:1803