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South Carolina Articles of Incorporation Benefit Corporation

State:
South Carolina
Control #:
SC-SKU-0777
Format:
PDF
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Description

Articles of Incorporation Benefit Corporation South Carolina Articles of Incorporation Benefit Corporation (SCA OBC) is a type of business structure specifically designed to provide companies with the legal ability to pursue social and environmental objectives alongside their traditional financial goals. SCA OBC is a form of corporate entity that requires the company to adopt a special statement of purpose, which includes creating a positive impact on society and the environment. Additionally, the corporation must consider the interests of stakeholders such as employees, suppliers, customers, community, and the environment when making decisions. There are two types of SCA OBC: 1) General Benefit Corporation and 2) Public Benefit Corporation. The General Benefit Corporation is a for-profit entity and the Public Benefit Corporation is a not-for-profit entity. The benefits of both types of SCA OBC include protection for directors and officers from personal liability for corporate decisions related to social and environmental objectives, increased flexibility in decision-making, and access to potential sources of capital.

South Carolina Articles of Incorporation Benefit Corporation (SCA OBC) is a type of business structure specifically designed to provide companies with the legal ability to pursue social and environmental objectives alongside their traditional financial goals. SCA OBC is a form of corporate entity that requires the company to adopt a special statement of purpose, which includes creating a positive impact on society and the environment. Additionally, the corporation must consider the interests of stakeholders such as employees, suppliers, customers, community, and the environment when making decisions. There are two types of SCA OBC: 1) General Benefit Corporation and 2) Public Benefit Corporation. The General Benefit Corporation is a for-profit entity and the Public Benefit Corporation is a not-for-profit entity. The benefits of both types of SCA OBC include protection for directors and officers from personal liability for corporate decisions related to social and environmental objectives, increased flexibility in decision-making, and access to potential sources of capital.

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South Carolina Articles of Incorporation Benefit Corporation