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Official Code of Georgia Annotated

Title 14. CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS · Chapter 2. BUSINESS CORPORATIONS · Article 18. BENEFIT CORPORATIONS

14-2-1802. Definitions.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

  1. As used in this article, the term:

  2. (1)

    “Benefit corporation” means a corporation whose articles of incorporation contain a public benefit provision and a statement that the corporation is a benefit corporation.#

  3. (2)

    “Public benefit” means a positive effect, or reduction of negative effects, on society, on the environment, or on one or more communities or categories of persons, entities, or interests, other than shareholders in their capacity as shareholders, including effects of an artistic, charitable, cultural, economic, ecological, educational, environmental, literary, medical, religious, scientific, social, or technological nature.#

  4. (3)

    “Public benefit provision” means a provision stating that a purpose of the corporation is to pursue a public benefit or benefits.#

Reading note: a word broken across two lines in the printed volume was joined by rule and could not be checked against the volume's own vocabulary. The official page linked below settles any doubt.

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1981, § 14-2-1802, enacted by Ga. L. 2020, p. 305, § 1-1/HB 230.

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t14-(v12)-pdf.pdf, Volume V12, 2017 edition, 2025 supplement, pages 26 to 27; merge action: added; file SHA-256 b004123363dc.