Massachusetts General Laws ch. 156E sec. 13 – Benefit officer; powers and duties
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Section 13. (a) A benefit corporation may have an officer designated as the benefit officer. A benefit officer shall have:
Terms Used In Massachusetts General Laws ch. 156E sec. 13
- 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.
(1) the powers and duties relating to the purpose of the corporation to create a general public benefit or a specific public benefit provided:
(i) by the bylaws; or
(ii) absent controlling provisions in the bylaws, by resolutions or orders of the board of directors; and
(2) the duty to oversee and prepare the annual benefit report required by subsection (a) of section 15.
[There is no subsection (b).]