§ 23-1.3-2-10 — "Specific public benefit"

Indiana § 23-1.3-2-10

• Jurisdiction: Indiana
• Title 23: BUSINESS AND OTHER ASSOCIATIONS
• Art. 1.3: BENEFIT CORPORATIONS
• Ch. 2: Definitions

Text

(a) "Specific public benefit" means a benefit
that serves:
(1) one (1) or more public welfare, religious, charitable, scientific,
literary, or educational purposes; or
(2) other purposes or benefits beyond the strict interests of the
shareholders of the benefit corporation.
(b) The term includes the following:
(1) Providing low income or underserved individuals or
communities with beneficial products or services.
(2) Promoting economic opportunity for individuals or
communities beyond the creation of jobs in the normal course of
business.
(3) Protecting or restoring the environment.
(4) Improving human health.
(5) Promoting the arts, sciences, or advancement of knowledge.
(6) Increasing the flow of capital to entities with a purpose to
benefit society or the environment.
(7) Conferring any other particular benefit on society or the
environment.

Legislative History

As added by P.L.93-2015, SEC.3.