New York § 1704 Election of an existing business corporation to become a benefit corporation

New York Statutes

§ 1704 — Election of an existing business corporation to become a benefit corporation

New York § 1704

Law BSCBusiness Corporation

Art. 17Benefit Corporations

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Bluebook

N.Y. Business Corporation § 1704 (2026).

Text

§ 1704. Election of an existing business corporation to become a benefit\ncorporation.\n  (a) A business corporation may become a benefit corporation under this\narticle by amending its certificate of incorporation so that it contains\na statement that the corporation is a benefit corporation. The amendment\nshall not be effective unless it is adopted by at least the minimum\nstatus vote.\n  (b) Any corporation that is not a benefit corporation that is a party\nto a merger or consolidation in which the surviving or consolidated\ncorporation will be a benefit corporation must approve the plan of\nmerger or consolidation by at least the minimum status vote in addition\nto any other vote required by this chapter, the certificate of\nincorporation or the bylaws.\n  (c) Any corporation that is 

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§ 1704. Election of an existing business corporation to become a benefit\ncorporation.\n (a) A business corporation may become a benefit corporation under this\narticle by amending its certificate of incorporation so that it contains\na statement that the corporation is a benefit corporation. The amendment\nshall not be effective unless it is adopted by at least the minimum\nstatus vote.\n (b) Any corporation that is not a benefit corporation that is a party\nto a merger or consolidation in which the surviving or consolidated\ncorporation will be a benefit corporation must approve the plan of\nmerger or consolidation by at least the minimum status vote in addition\nto any other vote required by this chapter, the certificate of\nincorporation or the bylaws.\n (c) Any corporation that is not a benefit corporation that is party to\na merger or consolidation in which shares of stock of such corporation\nwill be converted into a right to receive shares of stock of a benefit\ncorporation must approve the plan of merger or consolidation by at least\nthe minimum status vote in addition to any other vote required by this\nchapter, the certificate of incorporation or the bylaws.\n