10-2404. Election of benefit corporation status
A. An existing business corporation may become a benefit corporation under this chapter by amending its articles of incorporation so that they contain, in addition to the requirements of section 10-202, a statement that the corporation is a benefit corporation. In order to be effective, the amendment must be adopted by at least the supermajority status vote.
B. If an entity that is not a benefit corporation is a party to a merger or the acquired entity in a share exchange, and the surviving or acquired entity in the merger or share exchange is to be a benefit corporation, the plan of merger or share exchange must be adopted by at least the supermajority status vote.
Section: Previous 10-2264 10-2265 10-2266 10-2267 10-2401 10-2402 10-2403 10-2404 10-2405 10-2406 10-2421 10-2431 10-2432 10-2433 10-2441 NextLast modified: October 13, 2016