4074

A public benefit corporation shall be incorporated in the Department of State of the Commonwealth of Puerto Rico in accordance with §§ 3501, 3502 and 3503 of this title. The certificate of incorporation of every public benefit corporation shall state:\n(1) The general public benefit sought by the corporation through its operations;\n(2) the name of the corporation, as provided in its certificate of incorporation, the terms 'public benefit corporation' or 'B Corporation', or in the Spanish language 'Corporación de Beneficio Social' or 'Corporación B', or the abbreviation 'P.B.C.' or 'C.B.S.' or the designation 'PBC' or 'CBS'.\nA public benefit corporation created under the laws of any state of the United States or any other foreign country or jurisdiction and denominated as such under the laws of such state, country, or jurisdiction may be authorized to do business in Puerto Rico in accordance with Chapter XIII of this Act, whose provisions shall govern these entities insofar as they are not inconsistent with this chapter.\nHistory —Dec. 16, 2009, No. 164, added as § 23.04 on Dec. 22, 2015, No. 233, § 8, eff. 90 days after Dec. 22, 2015.