Effective January 1, 2015, Minnesota will begin incorporating "public benefit corporations," corporate entities with a "purpose of pursuing general public benefit." The substantive difference between a GPBC and a standard corporation appear to be the duties of the director (and thus the company itself):
In discharging the duties of the position of director of a general benefit corporation, a director:
The result is a corporation that blends non-profit "public good" intention with the basic structure and operation of a standard corporation.
The same law will also allow the incorporation of "specific public benefit corporations," which are like general public benefit corporations except, you know, more specific.
The attorneys of Drewes Law have access to post and edit the blogs. Attorney Bios.