D.C. Code § 29-1301.05: Election of status.
Where this section sits in the code
- Title 29. Business Organizations. [Enacted title]
- Chapter 13. Benefit Corporations.
- Subchapter I. Preliminary Provisions.
(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 § 29-308.01, a statement that the corporation is a benefit corporation. To be effective, the amendment must be adopted by at least the minimum status vote.
(b)
(1)
This subsection applies if all of the following apply:
(A)
An entity that is not a benefit corporation is:
(i)
A party to a merger or consolidation; or
(ii)
The exchanging entity in a share exchange; and
(B)
The surviving, new, or resulting entity in the merger, consolidation, or share exchange is to be a benefit corporation.
(2)
To be effective, a plan of merger, consolidation or share exchange subject to this subsection must be adopted by at least the minimum status vote.
Collected 2026-08-29T05:44:07Z. Source file · JSON