§ 5-6C-01. Definitions
West's Annotated Code of MarylandCorporations and AssociationsEffective: June 1, 2012
Effective: June 1, 2012
MD Code, Corporations and Associations, § 5-6C-01
§ 5-6C-01. Definitions
(b) “Benefit corporation” means a Maryland corporation that elects to be a benefit corporation in accordance with § 5-6C-03 of this subtitle and has not ceased to be a benefit corporation through the operation of § 5-6C-04 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 corporate social and environmental performance that:
Credits
Added by Acts 2010, c. 97, § 1, eff. Oct. 1, 2010; Acts 2010, c. 98, § 1, eff. Oct. 1, 2010. Amended by Acts 2012, c. 135, § 1, eff. June 1, 2012.
MD Code, Corporations and Associations, § 5-6C-01, MD CORP & ASSNS § 5-6C-01
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document |