GroundRules
CORP § 14621
Where this section sits in the code
- Corporations Code - CORP
- TITLE 1. CORPORATIONS [100. - 14707.]
- DIVISION 3. CORPORATIONS FOR SPECIFIC PURPOSES [12000. - 14707.]
- PART 13. BENEFIT CORPORATIONS [14600. - 14631.]
- CHAPTER 3. Accountability [14620. - 14623.]
(a) The board of directors of a benefit corporation shall prepare for inclusion in the annual benefit report to shareholders required by Section 14630, a statement indicating whether, in the opinion of the board of directors, the benefit corporation failed to pursue its general, and any specific, public benefit purpose in all material respects during the period covered by the report.
(b) If, in the opinion of the board of directors, the benefit corporation failed to pursue its general, and any specific, public benefit purpose, the statement required by subdivision (a) shall include a description of the ways in which the benefit corporation failed to pursue its general, and any specific, public benefit purpose.
Collected 2026-09-14T05:56:33Z. Source file · JSON