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A new law passed in Ohio that will create a “For-Profit Benefit Corporation” designation in Ohio. Senate Bill 21 amends Ohio Corporation law, as contained in ORC §1701, providing for a new form of for-profit corporation, a...more
The “benefit corporation” is a relatively new type of business entity. In 2010, Maryland became the first state in the U.S. to enact a statute recognizing and providing for the organization of this form of entity. In...more
Legislation enabling a new type of corporate legal entity in Arizona – the benefit corporation – takes effect January 1, 2015. A benefit corporation is distinguished from other for-profit corporations because it is required...more
On July 17, 2013, Delaware Governor Jack Markell signed into law legislation enabling the formation of public benefit corporations in Delaware. In doing so, Delaware became the 19th state to enact this type of legislation;...more
On May 16, 2013, Governor John Hickenlooper signed the Public Benefit Corporation Act of Colorado (the "Act") into law, creating a new class of for-profit corporations in Colorado beginning April 1, 2014, called "public...more