§ 1206. General public benefit purpose
Oklahoma Statutes AnnotatedTitle 18. CorporationsEffective: November 1, 2019
Effective: November 1, 2019
18 Okl.St.Ann. § 1206
§ 1206. General public benefit purpose
B. The certificate of incorporation of a benefit corporation may identify one or more specific public benefits that it is the purpose of the benefit corporation to create in addition to its purposes under the Oklahoma General Corporation Act or the Oklahoma Banking Code and subsection A of this section. The identification of a specific public benefit under this subsection does not limit the purpose of a benefit corporation to create general public benefit under subsection A of this section.
E. A professional corporation that is a benefit corporation shall not violate the Professional Entity Act3 by having the purpose to create general public benefit or a specific public benefit.
F. A state bank or trust company that is a benefit corporation shall not violate the Oklahoma Banking Code by having the purpose to create general public benefit or a specific public benefit, but nothing in the Oklahoma Benefit Corporation Act shall eliminate, diminish or supersede the duties of a benefit corporation that is a state bank or trust company to operate safely and soundly in accordance with applicable regulatory requirements.
Credits
Laws 2019, c. 45, § 6, eff. Nov. 1, 2019.
18 Okl. St. Ann. § 1206, OK ST T. 18 § 1206
Current with legislation of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
End of Document |