HB437 - Mississippi Benefit Corporation Act; create.

1 Co-Sponsor

An Act To Create The "mississippi Benefit Corporation Act"; To Provide That A Corporation Subject To The Mississippi Benefit Corporation Act May Be Simultaneously Subject To The Mississippi Business Corporation Act And The Mississippi Professional Corporation Act; To Provide Certain Definitions; To Require A Benefit Corporation To Be Incorporated In Accordance With The Mississippi Business Corporation Act; To Provide That A Business Corporation May Elect To Become A Benefit Corporation; To Provide That A Benefit Corporation May Terminate Its Benefit Corporation Status; To Require A Benefit Corporation To Have A Purpose Of Creating General Public Benefit; To Specify The Standard Of Conduct For Benefit Corporation Directors; To Authorize The Board Of Directors Of A Benefit Corporation To Designate A Benefit Director; To Specify The Standard Of Conduct For Officers; To Authorize A Benefit Corporation To Designate A Benefit Officer; To Limit The Liability Of Benefit Corporations For Certain Actions Regarding Its Failure To Pursue General Public Benefit; To Require A Benefit Corporation To Prepare An Annual Benefit Report; To Require A Benefit Corporation To Send Its Benefit Report To Shareholders And Make It Available On Its Website Or Provide Copies Upon Request; To Bring Forward Sections 79-4-2.01, 79-4-2.02, 79-4-2.03, 79-4-2.04, 79-4-2.05, 79-4-2.06, 79-4-2.07, 79-4-3.01, 79-4-7.40, 79-4-7.48, 79-4-8.08, 79-4-8.09, 79-4-8.30, 79-4-8.41, 79-4-8.42 And 79-10-19, Mississippi Code Of 1972, For Purposes Of Possible Amendment; To Amend Section 79-4-11.04, Mississippi Code Of 1972, To Make Certain Technical Amendments; And For Related Purposes.