§ 5-6C-03. Election by corporation to become benefit corporation

Latest version.

(a) In general. -- A corporation may elect to be a benefit corporation under this subtitle by amending or including in the charter of the corporation a statement that the corporation is a benefit corporation.

(b) Approval of amendment. -- An amendment described in subsection (a) of this section shall be approved in accordance with Title 2, Subtitle 6 of this article.

(c) Corporate name. -- The name of a domestic benefit corporation or a foreign benefit corporation authorized to transact business in the State must comply with Title 1, Subtitle 5 of this article.

HISTORY: 2010, chs. 97, 98; 2011, ch. 500, § 2; ch. 501, § 2; 2012, ch. 135.

                    
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