Okla. Stat. tit. 18, § 18-1206
This is the official text of Okla. Stat. tit. 18, § 18-1206, part of Oklahoma’s Stat. tit. 18, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 18,." Browse the sections below, each linked to its official government source.
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General public benefit purpose
Official statutory text
A. A benefit corporation shall have a purpose of creating
general public benefit. This purpose is in addition to its purpose
under the Oklahoma General Corporation Act or the Oklahoma Banking
Code.
B. The certificate of incorporation of a benefit corporation
may identify one or more specific public benefits that it is the
purpose of the benefit corporation to create in addition to its
purposes under the Oklahoma General Corporation Act or the Oklahoma
Banking Code and subsection A of this section. The identification
of a specific public benefit under this subsection does not limit
the purpose of a benefit corporation to create general public
benefit under subsection A of this section.
C. The creation of general public benefit and specific public
benefit under subsections A and B of this section shall be in the
best interests of the benefit corporation.
D. A benefit corporation may amend its certificate of
incorporation to add, amend or delete the identification of a
specific public benefit that it is the purpose of the benefit
Oklahoma Statutes - Title 18. Corporations Page 532
corporation to create. In order to be effective, the amendment
shall be adopted by at least the minimum status vote.
E. A professional corporation that is a benefit corporation
shall not violate the Professional Entity Act by having the purpose
to create general public benefit or a specific public benefit.
F. A state bank or trust company that is a benefit corporation
shall not violate the Oklahoma Banking Code by having the purpose to
create general public benefit or a specific public benefit, but
nothing in the Oklahoma Benefit Corporation Act shall eliminate,
diminish or supersede the duties of a benefit corporation that is a
state bank or trust company to operate safely and soundly in
accordance with applicable regulatory requirements.
general public benefit. This purpose is in addition to its purpose
under the Oklahoma General Corporation Act or the Oklahoma Banking
Code.
B. The certificate of incorporation of a benefit corporation
may identify one or more specific public benefits that it is the
purpose of the benefit corporation to create in addition to its
purposes under the Oklahoma General Corporation Act or the Oklahoma
Banking Code and subsection A of this section. The identification
of a specific public benefit under this subsection does not limit
the purpose of a benefit corporation to create general public
benefit under subsection A of this section.
C. The creation of general public benefit and specific public
benefit under subsections A and B of this section shall be in the
best interests of the benefit corporation.
D. A benefit corporation may amend its certificate of
incorporation to add, amend or delete the identification of a
specific public benefit that it is the purpose of the benefit
Oklahoma Statutes - Title 18. Corporations Page 532
corporation to create. In order to be effective, the amendment
shall be adopted by at least the minimum status vote.
E. A professional corporation that is a benefit corporation
shall not violate the Professional Entity Act by having the purpose
to create general public benefit or a specific public benefit.
F. A state bank or trust company that is a benefit corporation
shall not violate the Oklahoma Banking Code by having the purpose to
create general public benefit or a specific public benefit, but
nothing in the Oklahoma Benefit Corporation Act shall eliminate,
diminish or supersede the duties of a benefit corporation that is a
state bank or trust company to operate safely and soundly in
accordance with applicable regulatory requirements.
Status: in_force · Read it on the official government site
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