Florida Statutes 607.610 – Benefit officer
Current as of: 2024 | Check for updates
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(1) A benefit corporation may designate an officer as the benefit officer.
(2) The benefit officer has the powers and duties set forth in the bylaws or determined by the board of directors, which may include, but are not limited to:
(a) Powers and duties relating to the general public benefit or a specific public benefit purpose of the corporation; and
Terms Used In Florida Statutes 607.610
- Benefit officer: means the individual designated as the benefit officer of a benefit corporation under…. See Florida Statutes 607.602
- 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.
- General public benefit: means a material, positive effect on society and the environment, taken as a whole, as assessed using a third-party standard which is attributable to the business and operations of a benefit corporation. See Florida Statutes 607.602
- Specific public benefit: includes , but is not limited to:(a) Providing low-income or underserved individuals or communities with beneficial products or services;(b) Promoting economic opportunity for individuals or communities beyond the creation of jobs in the normal course of business;(c) Protecting or restoring the environment;(d) Improving human health;(e) Promoting the arts, sciences, or advancement of knowledge;(f) Increasing the flow of capital to entities that have as their stated purpose the provision of a benefit to society or the environment; and(g) Any other public benefit consistent with the purposes of the benefit corporation. See Florida Statutes 607.602(b) The duty to prepare the annual benefit report required under s. 607.612.