News & Analysis as of

Flexible Purpose Corporations

Best Best & Krieger LLP

Best in Law: Hybrid corporations combine profit and good will

These new entities give directors and officers the flexibility to pursue both profit and social objectives without the risk of liability associated with doing so in a traditional corporation. In 2012, California...more

Allen Matkins

Legislator Proposes To Eliminate Flexibility In Name And Purpose

Allen Matkins on

In 2011, the California legislature enacted not one, but two, laws allowing for the incorporation of for-profit businesses with broader purposes. The Corporate Flexibility Act of 2011, SB 201 (DeSaulnier), 2011 Stats. ch....more

Allen Matkins

Hobby Lobby And Other Constituency Statutes

Allen Matkins on

Is the corporate form incompatible with religious beliefs? California Attorney General Kamala Harris thinks so. In this amicus brief filed in Sebelius v. Hobby Lobby Stores, Inc., U.S. Supreme Court Docket No. 13-354, she...more

Allen Matkins

Would Hobby Lobby Stores, Inc. Have A Stronger Case As A Flexible Purpose Corporation?

Allen Matkins on

Steve Hazen alerted me to the fact that California Attorney General Kamala D. Harris has filed an amicus brief in Sebelius v. Hobby Lobby Stores, Inc., U.S. Supreme Court Docket No. 13-354. The question presented in that...more

Skadden, Arps, Slate, Meagher & Flom LLP

Nonprofit Notes - Issue 3 | January 2013

In This Issue: - Raising Funds Without Raising Problems - IRS Issues Clarification Regarding Contributions to Single-Member LLCs - Appellate Decisions Impact NY Nonprofit Chapter Organizations - The...more

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