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§ 5-6c-06 — Maryland Law | CourtGPT
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  5. Title 5 - Special Types of Corporations/
  6. Subtitle 6c - Benefit Corporations/
  7. § 5-6c-06
Maryland Legal Code

§ 5-6c-06

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(a) (1) Each benefit corporation shall have the purpose of creating a general public benefit. (2) The purpose described in paragraph (1) of this subsection is in addition to, and may be a limitation on, the purposes of the corporation under § 2–101 of this article. (b) (1) In addition to its purposes under § 2–101 of this article and subsection (a) of this section, the charter of a benefit corporation may identify as one of the purposes of the benefit corporation the creation of one or more specific public benefits. (2) The identification in its charter of a specific public benefit purpose under paragraph (1) of this subsection does not limit the obligation of a benefit corporation to create a general public benefit. (c) The creation of a general public benefit or specific public benefit as provided in subsections (a) and (b) of this section is in the best interests of the benefit corporation.