1. The board of directors of a benefit corporation shall prepare and include in the annual benefit report to shareholders required by NRS 78B.170 a statement indicating whether, in the opinion of the board of directors, the benefit corporation failed in any material respect to pursue its general public benefit purpose and any specific public benefit purpose identified in the articles of incorporation pursuant to NRS 78B.140 during the period covered by the report.
2. If, in the opinion of the board of directors, the benefit corporation failed to pursue its general public benefit purpose or any specific public benefit purpose identified in the articles of incorporation pursuant to NRS 78B.140, the statement required by subsection 1 must include a description of the ways in which the benefit corporation failed to pursue its general public benefit purpose or any specific public benefit purpose.
(Added to NRS by 2013, 416)
Structure Nevada Revised Statutes
Chapter 78B - Benefit Corporations
NRS 78B.020 - "Benefit corporation" defined.
NRS 78B.030 - "Benefit enforcement proceeding" defined.
NRS 78B.040 - "General public benefit" defined.
NRS 78B.050 - "Minimum status vote" defined.
NRS 78B.060 - "Specific public benefit" defined.
NRS 78B.070 - "Subsidiary" defined.
NRS 78B.080 - "Third-party standard" defined.
NRS 78B.100 - Filing requirements; required provisions of articles of incorporation.
NRS 78B.130 - Required statement on share certificates.
NRS 78B.150 - Directors: Duties; liability.
NRS 78B.160 - Officers: Duties; liability.
NRS 78B.170 - Annual benefit report: Requirement; contents.
NRS 78B.180 - Annual benefit report: Preparation by board of directors; required statement by board of directors.