South Carolina Articles of Incorporation Benefit Corporation-Statutory Close Corporation is a type of legal document that is used to form a for-profit corporation in the state of South Carolina. It is commonly referred to as a Benefit Corporation-Statutory Close Corporation. This type of incorporation provides the protection of limited liability to shareholders, and it also allows for the company to have the flexibility to make decisions that are based on the best interests of the company and its shareholders. South Carolina Articles of Incorporation Benefit Corporation-Statutory Close Corporations can be divided into two different types: Benefit Corporations and Statutory Close Corporations. Benefit Corporations are for-profit entities that are focused on creating a positive impact on society, the environment, or the economy. These types of companies are required to consider the interests of their shareholders, customers, employees, and other stakeholders when making decisions. Statutory Close Corporations are designed for small businesses with fewer than 30 shareholders. This type of corporation allows the shareholders to take more control over the company's operations and make decisions without having to obtain approval by the board of directors. Both types of South Carolina Articles of Incorporation Benefit Corporation-Statutory Close Corporation allow for the company to obtain the benefits of limited liability while still having the flexibility to make decisions that are in the company's best interests. Additionally, they provide the company with a legal framework that is recognized by the state of South Carolina.