§ 21-413 — Annual benefit report; contents

Nebraska § 21-413

• Jurisdiction: Nebraska
• Ch. 21: Corporations and Other Companies

Text

(1) A benefit corporation
shall prepare an annual benefit report including all of the following:
(a) A narrative description
of:
(i)
The ways in which the benefit corporation pursued general public benefit during
the year and the extent to which general public benefit was created;
(ii) Both:
(A) The ways in which the
benefit corporation pursued a specific public benefit that the articles of
incorporation state it is the purpose of the benefit corporation to create;
and
(B)
The extent to which that specific public benefit was created;
(iii) Any circumstances that
have hindered the creation by the benefit corporation of general public benefit
or specific public benefit; and
(iv) The process and rationale for selecting or changing
the third-party standard used to prepare the benefit report;
(b) An assessment of the
overall social and environmental performance of the benefit corporation against
a third-party standard:
(i)
Applied consistently with any application of that standard in prior benefit
reports; or
(ii)
Accompanied by an explanation of the reasons for:
(A) Any inconsistent application; or
(B) The change to that standard
from the one used in the immediately prior benefit report;
(c) 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;
(d) The compensation paid by the benefit corporation
during the year to each director in the capacity of a director;
(e) The statement of the
benefit director described in subsection (3) of section 21-409 ; and
(f) A statement of any connection
between the organization that established the third-party standard, or its
directors, officers, or any holder of five percent or more of the governance
interests in the organization, and the benefit corporation or its directors,
officers, or any holder of five percent or more of the outstanding shares
of the benefit corporation, including any financial or governance relationship
which might materially affect the credibility of the use of the third-party
standard.
(2)
If, during the year covered by a benefit report, a benefit director resigned
from or refused to stand for reelection to the position of benefit director,
or was removed from the position of benefit director, and the benefit director
furnished the benefit corporation with any written correspondence concerning
the circumstances surrounding the resignation, refusal, or removal, the benefit
report shall include that correspondence as an exhibit.
(3) Neither the benefit report
nor the assessment of the performance of the benefit corporation in the benefit
report required by subdivision (1)(b) of this section needs to be audited
or certified by a third-party standards provider.

Legislative History

Source: Laws 2014, LB751, § 13.