15 Pennsylvania Consolidated Statutes Chapter 33 - Benefit Corporations

Section 3301 - Application And Effect Of Chapter
(a) General rule.--This chapter shall apply to all benefit corporations. (b) Application of business corporation law generally.--The existence of a provision of this chapter...
Section 3302 - Definitions
The following words and phrases when used in this chapter shall have the meanings given to them in this section unless the context clearly...
Section 3303 - Formation Of Benefit Corporations
A benefit corporation shall be formed in accordance with Article B (relating to domestic business corporations generally) except that its articles shall also state...
Section 3304 - Election Of Benefit Corporation Status
(a) Amendment.--An existing business corporation may become a benefit corporation by amending its articles so that they contain, in addition to the requirements of...
Section 3305 - Termination Of Benefit Corporation Status
(a) Amendment.--A benefit corporation may terminate its status as a benefit corporation and cease to be subject to this chapter by amending its articles...

Section 3311 - Corporate Purposes
(a) General public benefit purpose.--A benefit corporation shall have a purpose of creating general public benefit. This purpose is in addition to its purpose...

Section 3321 - Standard Of Conduct For Directors
(a) Consideration of interests.--Without regard to whether the benefit corporation is subject to section 1715 (relating to exercise of powers generally) or 1716 (relating...
Section 3322 - Benefit Director
(a) General rule.-- (1) The board of directors of a benefit corporation which is a registered corporation shall include a director who: (i) shall...
Section 3323 - Standard Of Conduct For Officers
(a) General rule.--Each officer of a benefit corporation shall consider the interests and factors described in section 3321(a) (relating to standard of conduct for...
Section 3324 - Benefit Officer
A benefit corporation may have an officer designated as the benefits officer who shall have such authority and shall perform such duties in the...
Section 3325 - Right Of Action
(a) Limitations.-- (1) Except in a benefit enforcement proceeding, no person may bring an action or assert a claim against a benefit corporation or...

Section 3331 - Annual Benefit Report
(a) Contents.--A benefit corporation must deliver to each shareholder an annual benefit report including: (1) A narrative description of: (i) the ways in which...

Last modified: October 8, 2016