This text of Delaware § 18-1205 (Periodic statements and third-party certification) is published on Counsel Stack Legal Research, covering Delaware primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
A statutory public benefit limited liability company shall no less than biennially provide its members with a statement as to the limited liability company’s promotion of the public benefit or public benefits set forth in its limited liability company agreement and certificate of formation and as to the best interests of those materially affected by the limited liability company’s conduct. The statement shall include:
(1)The objectives that have been established to promote such public benefit or public benefits and interests;
(2)The standards that have been adopted to measure the limited liability company’s progress in promoting such public benefit or public benefits and interests;
(3)Objective factual information based on those standards regarding the limited liability company’s suc
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A statutory public benefit limited liability company shall no less than biennially provide its members with a statement as to the limited liability company’s promotion of the public benefit or public benefits set forth in its limited liability company agreement and certificate of formation and as to the best interests of those materially affected by the limited liability company’s conduct. The statement shall include:
(1) The objectives that have been established to promote such public benefit or public benefits and interests;
(2) The standards that have been adopted to measure the limited liability company’s progress in promoting such public benefit or public benefits and interests;
(3) Objective factual information based on those standards regarding the limited liability company’s success in meeting the objectives for promoting such public benefit or public benefits and interests; and
(4) An assessment of the limited liability company’s success in meeting the objectives and promoting such public benefit or public benefits and interests.