§ 4A-1201. Definitions
West's Annotated Code of MarylandCorporations and AssociationsEffective: October 1, 2013
Effective: October 1, 2013
MD Code, Corporations and Associations, § 4A-1201
Formerly cited as MD Code, Corporations and Associations, § 4A-1101
§ 4A-1201. Definitions
(b) “Benefit limited liability company” means a Maryland limited liability company that elects to be a benefit limited liability company in accordance with § 4A-1203 of this subtitle and has not ceased to be a benefit limited liability company through the operation of § 4A-1205 of this subtitle.
(c) “General public benefit” means a material, positive impact on society and the environment, as measured by a third-party standard, through activities that promote a combination of specific public benefits.
(d) “Specific public benefit” includes:
(e) “Third-party standard” means a standard for defining, reporting, and assessing best practices in social and environmental performance that:
Credits
Added as Corporations and Associations § 4A-1101 by Acts 2011, c. 500, § 2, eff. June 1, 2011; Acts 2011, c. 501, § 2, eff. June 1, 2011. Amended by Acts 2012, c. 135, § 1, eff. June 1, 2012. Renumbered as Corporations and Associations § 4A-1201 by Acts 2013, c. 527, § 1, eff. Oct. 1, 2013; Acts 2013, c. 528, § 1, eff. Oct. 1, 2013. Amended by Acts 2013, c. 43, § 5.
MD Code, Corporations and Associations, § 4A-1201, MD CORP & ASSNS § 4A-1201
Current with all legislation from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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