Rhode Island § 7-5.3-4 § 7-5.3-4. Election of benefit corporation status.

Rhode Island Statutes

§ 7-5.3-4 — § 7-5.3-4. Election of benefit corporation status.

Rhode Island·Title 7 Corporations, Associations and Partnerships·Ch. 7-5.3 Benefit Corporations

§ 7-5.3-4. Election of benefit corporation status.
(a) An existing corporation may become a benefit corporation under this chapter by amending
            its articles of incorporation so that they contain, in addition to the requirements
            of § 7-1.2-202, a statement that the corporation is a benefit corporation. In order to be effective,
            the amendment must be adopted by at least the minimum status vote.
         
(b) If an entity that is not a benefit corporation is a party to a merger or conversion
            and the surviving or resulting entity in the merger or consolidation is to be a benefit
            corporation, the merger or conversion must 

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§ 7-5.3-4. Election of benefit corporation status.

(a) An existing corporation may become a benefit corporation under this chapter by amending its articles of incorporation so that they contain, in addition to the requirements of § 7-1.2-202, a statement that the corporation is a benefit corporation. In order to be effective, the amendment must be adopted by at least the minimum status vote.

(b) If an entity that is not a benefit corporation is a party to a merger or conversion and the surviving or resulting entity in the merger or consolidation is to be a benefit corporation, the merger or conversion must be approved by the entity by at least the minimum status vote.

Rhode Island § 7-5.3-4 (§ 7-5.3-4. Election of benefit corporation status.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.