Vermont Statutes Title 11 Sec. 21-12
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Vermont Statutes Title 11 Sec. 21-12
- Benefit corporation: means a corporation as defined in section 1. See
- Benefit officer: means the officer of a benefit corporation, if any, designated as the benefit officer as provided in section 21. See
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
§ 21.12. Benefit officer
A benefit corporation may have an officer designated the “benefit officer” who shall have the authority and shall perform the duties in the management of the benefit corporation relating to the purpose of the corporation to create public benefit as set forth with respect to the office in the bylaws or, to the extent not inconsistent with the bylaws, prescribed with respect to the office by the board of directors or by direction of an officer authorized by the board of directors to prescribe the duties of the office. (Added 2009, No. 113 (Adj. Sess.), § 1, eff. July 1, 2011.)