District of Columbia § 29-1301.05 Election of status.

District of Columbia Statutes

§ 29-1301.05 — Election of status.

District of Columbia § 29-1301.05

Title 29Business Organizations. [Enacted title]

Ch. 13Benefit Corporations.

Subch. IPreliminary Provisions.

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Bluebook

D.C. Code § 29-1301.05 (2026).

Text

(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.

(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 subsec

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(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.

(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.