(a) A benefit corporation may, not earlier than twenty-four months after the date that it became a benefit corporation, adopt a legacy preservation provision by amending its certificate of incorporation to contain a statement that the corporation is subject to a legacy preservation provision. Any such amendment shall be adopted in accordance with the procedures set forth in chapter 601 and shall be approved by the unanimous vote or written consent of the shareholders of every class or series, regardless of any limitation stated in the certificate of incorporation or bylaws on the voting rights of any such class or series.
(b) A dissolved benefit corporation that has adopted a legacy preservation provision shall distribute its remaining property only to one or more (1) charitable organizations, or (2) other benefit corporations that have adopted a legacy preservation provision.
(P.A. 14-217, S. 145.)
Structure Connecticut General Statutes
Chapter 604 - Benefit Corporations
Section 33-1350. - Short title: Connecticut Benefit Corporation Act.
Section 33-1351. - Definitions.
Section 33-1352. - Construction of statutes.
Section 33-1353. - Incorporation of benefit corporation.
Section 33-1354. - Election of benefit corporation status.
Section 33-1355. - Legacy preservation provision.
Section 33-1356. - Termination of benefit corporation status.
Section 33-1358. - Standards of conduct for directors.
Section 33-1359. - Benefit director.
Section 33-1360. - Standards of conduct for officers.
Section 33-1361. - Benefit officer.
Section 33-1362. - Right of action. Benefit enforcement proceeding.
Section 33-1363. - Third-party standard. Preparation of annual benefit report.