Federal and State Laws
New York Laws
New York Business Corporation Law Article 17 - BENEFIT CORPORATIONS
1701 - Application and Effect of Article.
(a) This article shall be applicable to all benefit corporations. (b) The existence of a provision of this article shall not of itself create any...
1702 - Definitions.
As used in this article, unless the context otherwise requires, the term: (a) "Benefit corporation" means a business corporation incorporated under this article and whose...
1703 - Formation of Benefit Corporations.
A benefit corporation shall be formed in accordance with this chapter except that its certificate of incorporation shall also state that it is a benefit
1704 - Election of an Existing Business Corporation to Become a Benefit Corporation.
1704. Election of an existing business corporation to become a benefit corporation. (a) A business corporation may become a benefit corporation under this article by...
1705 - Termination of Benefit Corporation Status.
(a) A benefit corporation may terminate its status as such and cease to be subject to this article by amending its certificate of incorporation to...
1706 - Corporate Purposes.
(a) Every benefit corporation shall have a purpose of creating general public benefit. This purpose is in addition to its purposes under section two hundred...
1707 - Standard of Conduct for Directors and Officers.
(a) In discharging the duties of their respective positions, the board of directors, committees of the board and individual directors and officers of a benefit...
1708 - Annual Benefit Report.
(a) A benefit corporation must deliver to each shareholder an annual benefit report including: (1) a narrative description of: (A) the process and rationale for...
1709 - Conspicuous Language on the Face of Certificates.
All certificates representing shares of a benefit corporation shall contain, in addition to any other statements required by the business corporation law, the following conspicuous...
Last modified: February 3, 2019