Terms Used In Utah Code 16-10b-304

• Benefit officer: means the individual designated as the benefit officer of a benefit corporation under Section 16-10b-304. See Utah Code 16-10b-103
• 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 impact on society and the environment:
       (9)(a) taken as a whole;
       (9)(b) assessed against a third-party standard; and
       (9)(c) from the business of a benefit corporation. See Utah Code 16-10b-103
• Specific public benefit: includes :
       (14)(a) providing low-income or underserved individuals or communities with beneficial products or services;
       (14)(b) promoting economic opportunity for individuals or communities beyond the creation of jobs in the normal course of business;
       (14)(c) protecting or restoring the environment;
       (14)(d) improving human health;
       (14)(e) promoting the arts, sciences, or advancement of knowledge;
       (14)(f) increasing the flow of capital to entities with a purpose to benefit society or the environment; and
       (14)(g) conferring any other particular benefit on society or the environment. See Utah Code 16-10b-103