Rhode Island General Laws 7-5.3-3. Incorporation of benefit corporation
Current as of: 2024 | Check for updates
|
Other versions
A benefit corporation shall be incorporated in accordance with § 7-1.2-202, and, if applicable, chapter 5.1 of this title but its articles of incorporation must also state that it is a benefit corporation and disclose the fiscal year end of the corporation.
History of Section.
P.L. 2013, ch. 487, § 1; P.L. 2013, ch. 500, § 1.
Terms Used In Rhode Island General Laws 7-5.3-3
- Benefit corporation: means a corporation for profit with purposes set forth in Rhode Island General Laws 7-5.3-2
- 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.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.