Maine Revised Statutes Title 13-C Sec. 1824 – Benefit officer
Current as of: 2023 | Check for updates
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1. Designation. A benefit corporation may have an officer designated the benefit officer.
[PL 2019, c. 328, §1 (NEW).]
Terms Used In Maine Revised Statutes Title 13-C Sec. 1824
- Benefit officer: means the individual designated as the benefit officer of a benefit corporation under section 1824. See Maine Revised Statutes Title 13-C Sec. 1802
- 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.
- General public benefit: means a material positive impact on society and the environment, taken as a whole, assessed against a 3rd-party standard, from the business and operations of a benefit corporation. See Maine Revised Statutes Title 13-C Sec. 1802
- Specific public benefit: means any particular benefit to society or the environment, including without limitation:
2. Functions. A benefit officer has:
A. The powers and duties relating to the purpose of the corporation to create general public benefit or a specific public benefit provided by the bylaws or, absent controlling provisions in the bylaws, by resolution or order of the board of directors; and [PL 2019, c. 328, §1 (NEW).]
[PL 2019, c. 328, §1 (NEW).]
SECTION HISTORY
PL 2019, c. 328, §1 (NEW).