Indiana § 23-1.3-10-1 Content

Indiana Statutes

§ 23-1.3-10-1 — Content

Indiana § 23-1.3-10-1

Title 23BUSINESS AND OTHER ASSOCIATIONS

Art. 1.3BENEFIT CORPORATIONS

Ch. 10Annual Benefit Report

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Bluebook

Ind. Code § 23-1.3-10-1 (2026).

Text

A benefit corporation shall prepare an annual benefit report that includes all the following:

(1)A narrative description of:

(A)the ways in which the benefit corporation pursued general public benefit during the year and the extent to which general public benefit was created;

(B)both the:

(i)ways in which the benefit corporation pursued a specific public benefit that the articles of incorporation state is the purpose of the benefit corporation to create; and

(ii)extent to which that specific public benefit was created;

(C)any circumstances that have hindered the creation by the benefit corporation of general public benefit or a specific public benefit; and

(D)the process and rationale for selecting or changing the third party standard used to prepare the benefit report.

(2)An asses

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A benefit corporation shall prepare an annual
benefit report that includes all the following:
(1) A narrative description of:
(A) the ways in which the benefit corporation pursued general
public benefit during the year and the extent to which general
public benefit was created;
(B) both the:
(i) ways in which the benefit corporation pursued a specific
public benefit that the articles of incorporation state is the
purpose of the benefit corporation to create; and
(ii) extent to which that specific public benefit was created;
(C) any circumstances that have hindered the creation by the
benefit corporation of general public benefit or a specific public
benefit; and
(D) the process and rationale for selecting or changing the third
party standard used to prepare the benefit report.
(2) An assessment of the overall social and environmental
performance of the benefit corporation against a third party
standard:
(A) applied consistently with any application of that standard
in prior benefit reports; or
(B) accompanied by an explanation of the reasons for:
(i) any inconsistent application; or
(ii) the change to that standard from the standard used in the
immediate prior report.
(3) The name of the benefit director and the benefit officer, if any,
and the address to which correspondence to each of them may be
directed.
(4) The compensation paid by the benefit corporation during the
year to each director in the capacity of a director.
(5) The report of the benefit director described in IC 23-1.3-6-3.
(6) A statement regarding any connection between the
organization that established the third party standard, or its
directors, officers, or any holder of at least five percent (5%) of
the governance interests in the organization, and the benefit
corporation or its directors, officers, or any holder of at least five
percent (5%) of the outstanding shares of the benefit corporation,
including any financial or governance relationship that might
materially affect the credibility of the use of the third party
standard.