A domestic corporation, including a domestic corporation incorporated upon a conversion, may be incorporated as a benefit corporation by including in its original articles of incorporation a provision stating that the corporation is a benefit corporation governed by this chapter. The articles of incorporation also must include an identification of a specific public benefit purpose as required by Section 33-38-300.
HISTORY: 2012 Act No. 277, Section 1, eff June 14, 2012.
Structure South Carolina Code of Laws
Title 33 - Corporations, Partnerships and Associations
Chapter 38 - South Carolina Benefit Corporation Act
Section 33-38-110. Short title.
Section 33-38-120. Application of chapter; exemptions.
Section 33-38-130. Definitions.
Section 33-38-140. No entitlement to property tax exemptions.
Section 33-38-200. Incorporation as a benefit corporation.
Section 33-38-220. Termination of status as benefit corporation.
Section 33-38-230. Approval of corporate matters.
Section 33-38-300. Corporate purposes for benefit corporations.
Section 33-38-400. Accountability for benefit corporation.
Section 33-38-410. Powers and duties of benefit director.
Section 33-38-420. Officer liability for benefit corporation.
Section 33-38-430. Duties of benefit officer.
Section 33-38-440. Benefit enforcement proceedings.
Section 33-38-500. Annual benefit report.
Section 33-38-600. Shareholder dissent and payment for shares.