Current through Register Vol. 49, No. 8, August 19, 2024
Section 304A.101 - INCORPORATION OF A PUBLIC BENEFIT CORPORATIONSubdivision 1.Incorporation.A public benefit corporation must be incorporated in accordance with chapter 302A, and its articles must also state that the public benefit corporation is a:
(1) general benefit corporation;(2) general benefit corporation that also elects to pursue a specific public benefit purpose as stated in its articles; or(3) a specific benefit corporation that elects to pursue a specific public benefit purpose as stated in its articles.Subd. 2.Name requirements.A public benefit corporation name must comply with the requirements of section 302A.115 other than subdivision 1, paragraph (b), and with respect to:
(1) a general benefit corporation, contain the words "general benefit corporation," or the abbreviation "GBC;" and(2) a specific benefit corporation, contain the words "specific benefit corporation," or the abbreviation "SBC."Added by 2014 Minn. Laws, ch. 172,s 4, eff. 1/1/2015.