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  • Bylaws Of Icaps, Inc. A California Public Benefit ...

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In Los Angeles County, California. SECTION 2. CHANGE OF ADDRESS The county of the corporation's principal office can be changed only by amendment of these bylaws and not otherwise. The board of directors may, however, change the principal office from one location to another within the named county by noting the changed address and effective date below, and such changes of address shall not be deemed an amendment of these bylaws. Dated: Da.

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Public Benefit Corporation vs Non-profits The chief difference between a non-profit corporation and a benefit corporation—sometimes called a B Corporation—is the ownership factor. There are no owners or shareholders in a non-profit company. A benefit corporation, however, does have shareholders who own the company.

The Potential Disadvantages of a Benefit Corporation Identity. Expanded reporting requirements are a significant drawback to operating a benefit corporation. Transparency is an important aspect for a benefit corporation, and an annual report to the shareholders and the public is required.

Under California law, a public benefit corporation must be formed for public or charitable purposes and may not be organized for the private gain of any person. A public benefit corporation cannot distribute profits, gains, or dividends to any person.

No. The California Corporations Code does not explicitly state that corporations must have corporate bylaws.

Common examples of public benefit nonprofits include hospitals, schools, and charitable organizations like United Way. Likewise, religious nonprofits have purely religious purposes. In many cases, they are sectarian schools or churches.

California mandates that all nonprofit organizations and corporations establish bylaws as a fundamental part of their formation process.

A benefit corporation is formed with the purpose of creating a “general public benefit.” A benefit corporation is deemed to be pursing the general public benefit if its business and operations create a “material positive impact on society and the environment,” as assessed against a third-party standard.

LLCs are not required to have bylaws. However, they are governed by an operating agreement which is like a corporation's bylaws.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232