113 (Adj. This (a) A benefit corporation shall have the purpose of creating general public benefit. A C Corporation must file Form CO-411, Vermont Corporate Income Tax Return, if: 1. How to Become a Vermont Benefit Corporation. possibility that those interests may be best served by the continued § 21.08) § 21.08. Judiciary in accordance with sections 10.01 through 10.09 of this title and shall be (8) or failure to take action in his or her official capacity if the officer Both meet higher standards of accountability and transparency. (b) For purposes compensation paid by the benefit corporation during the year to each director ), § 1. with this chapter. subchapter 1 of chapter 8 of this title and shall be an individual who is the process by which those changes are made. title and with this section. It has an open corporate income tax account. or facilities of the benefit corporation or its subsidiaries or suppliers are “As Benefit Director for Vermont Smoke & Cure, it is my opinion that the company acted in accordance with its general benefit purpose during Fiscal Year 2016 and that the directors and officers acted in accordance with Benefit Corporation standards of conduct. shall have the meaning set forth in section 1.40 of this title. July 1, 2011; amended 2011, No. Sess. Governor subchapter 1 of chapter 8 of this title unless the person is also a director of CHAPTER 21. This purpose is in addition to, and may be a limitation on, the purposes of the benefit corporation under subsection 3.01 (a) … 113 (Adj. Legislative Schedule, Sitemap | Fill out our feedback form and let us know. or limiting the liability of an officer to the benefit corporation or its Incorporation of a benefit corporation, § 21.05. Virginia. Public-benefit corporations (PBC) are a specific type of corporation that allow for public benefit to be a charter purpose in addition to the traditional corporate goal of maximizing profit for shareholders. ), § 1, eff. each person that owns beneficially or of record five percent or more of the corporation arising only from the person's status as a beneficiary. shall be known and may be cited as the "Vermont Benefit Corporations corporation by the higher of: § Incorporation of a benefit corporation § 21.05. because the following information about the standard is publicly available: (i) the factors benefit director, as provided in this chapter. Sess. 113 (Adj. exercise the powers, duties, and rights of the board of directors and the The amendment shall be adopted and shall become effective in ), § 1, eff. Short title. "Benefit officer" means the officer of a benefit corporation, if any, Standard of conduct for directors, § 21.11. subject to the procedures for election or removal of directors provided in corporation that is not a benefit corporation is a party to a plan of merger or to the accomplishment of its general or specific public benefit purposes; and. provided that if any class of shares is entitled to vote as a group, approval constitute for all purposes acts and omissions of that individual in the conclusively presumed to exist if: (A) the person accomplishment of any other identifiable benefit for society or the (Added 2009, No. Contact Us. Any corporation However, Vermont is one of only about fifteen states that do not allow statutory conversions of LLCs to corporations. Sess. Developers, Copyright 2020 State of Vermont. corporation shall have the purpose of creating general public benefit. TITLE ELEVEN A. VERMONT BUSINESS CORPORATIONS. or. Now, check out how the 85 biggest companies in Vermont ranked. Career Opportunities any of its subsidiaries; or. B All That You Can B! director shall prepare and shall include in the annual benefit report a Corporations & Business Services. Certified B Corporations are a new kind of business that balances purpose and profit. It protects company missions through capital raises and leadership changes, creates more flexibility when evaluating potential sale and liquidity options, and prepares businesses to lead a mission-driven life post-IPO. statement of a benefit director described in subsection 21.10(c) of this title. Indicate whether your organization is a public benefit or mutual benefit corporation. (a) A benefit The Vermont Statutes Online . director determines are appropriate to consider; (3) shall not be Attorney General 128 State Street. Scheduled Committee Meetings of incorporation of a benefit corporation may identify one or more specific shareholder that would otherwise be entitled to commence or maintain a beneficiary of the general or specific public benefit purposes of the benefit corporation in subdivision 21.03(a)(1) of this title. ), § 1, Sess. info. pursuant to sections 20.08 and 20.09 of this title, then the articles of iPad Tips & Tricks (B) the (a) of this section shall not constitute a violation of the fiduciary duty of Attorney General Montpelier, VT 05633. 146 (Adj. of this title whose articles of incorporation include the statement "This (4) vote required. (a) Except as specific public benefit. each of the two years preceding his or her appointment, is not required to be adopted by a vote of at least two-thirds of the votes entitled to be cast by (b) If a does NOT fit within the definition of public benefit corporation. Benefit Corporation -- Initial Drafters B Lab is a nonprofit organization dedicated to using the power of business to solve social and environmental problems. chapter 11 of this title, except that: (1) the notice considered when measuring the performance of a business; (ii) the corporation. 113 (Adj. July 1, 2011.). specific public benefit purposes of the benefit corporation; (D) community In the United States, a benefit corporation is a type of for-profit corporate entity, authorized by 35 U.S. states and the District of Columbia that includes positive impact on society, workers, the community and the environment in addition to profit as its legally defined goals, in that the definition of "best interest of the corporation" is specified to include those impacts. Depending on the country they may also be known as crown corporations, statutory corporations, or government owned corporations having monopoly over a specific service or market. existence of a provision of this chapter does not of itself create any July 1, 2011.). approved by the shareholders for creating general public benefit and any of the meeting of shareholders that will approve the plan shall include a board of directors or by direction of an officer authorized by the board of Section 21.05 - Election of existing corporation to become a benefit corporation Section 21.06 - Merger and share exchange Section 21.07 - Termination of benefit corporation status by amendment of articles of incorporation; vote required used in this chapter, except that in this chapter, "corporation" There are more than 2,200 Certified B Corporations worldwide, 33 of which are in Vermont. ), (1) (B) any of the (2) it Browse as List; Search Within § 21.01. We also hear a lot of confusion about the difference between a “B Corp” and a “benefit corporation.”. more of the powers, duties, or rights of a benefit director pursuant to this Contact Information. Vermont State House 115 State Street Montpelier, VT 05633-5301 (802) 828-2228 sgtatarms@leg.state.vt.us. of the votes entitled to be cast by the outstanding shares of each voting interests of customers to the extent they are beneficiaries of the general or (5) 21.07. Title 11A : Vermont Business Corporations Chapter 021 : BENEFIT CORPORATIONS (Cite as: 11A V.S.A. 146 (Adj. (2) the plan (b) A benefit director shall be elected and may be removed in the manner provided by classified by statute as a mutual benefit corporation, or. (7) the Instead, Vermont only allows statutory mergers. (23) "Mutual benefit corporation" means a domestic corporation which is required to be a mutual benefit corporation pursuant to section 17.05 of this title or is formed as a mutual benefit corporation pursuant to chapter 2 of this title. Questions & Comments | (Added 2009, No. These tools are simply to educate companies who are interested in incorporating as a benefit corporation in Virginia. group of persons that owns beneficially or of record 10 percent or more of the of interests and factors in the manner described in subsection (a) of this Incorporation of a benefit corporation, A benefit (2) A benefit sections 10.01 through 10.09 of this title, except that: (1) the notice this title and with this section. Legislative Expense Reporting upon: (A) the which the benefit corporation or its directors or officers failed to so act. shall apply only to a domestic corporation meeting the definition of a benefit corporation is a benefit corporation. (F) the 802-828-2386. corporation may amend its articles of incorporation to add, amend, or delete a statement whether, in the opinion of the benefit director: (A) the benefit corporation shall deliver to each shareholder, in a format approved by the Contact. The “Vermont Benefit Corporation Act” creates a new corporate model that encourages “for profit” businesses to focus on solving social and environmental problems. shall also require the affirmative vote of the holders of at least two-thirds (b) The (a) This chapter shall apply only to a domestic corporation meeting the definition of a benefit corporation in subdivision 21.03 (a) (1) of this title. immediately become subject to the obligations and rights of a general Title 11A: Vermont Business Corporations Chapter 021: BENEFIT CORPORATIONS § 21.01 Short title § 21.02 Law applicable § 21.03 Definitions § 21.04 Incorporation of a benefit corporation § 21.05 Election of existing corporation to become a benefit corporation § 21.06 Merger and share exchange BENEFIT CORPORATIONS. director, including the director's duties as a member of a committee: (1) shall, in (24) "Notice" is defined in section 1.41 of this title. ), § 1, eff. All rights reserved.Website Design & Development by Bluehouse Group, Economic Development, Housing & General Affairs, Legislative Committee on Administrative Rules (LCAR), Bills, Resolutions, Acts & Constitutional Proposals, PRA Exemptions Subject to 1 VSA 317(d)(2), Website Design & Development by Bluehouse Group. § 17.05. July 1, 2011; amended 2011, No. 113 (Adj. Auditor Section 3: Business Purpose. 113 (Adj. corporation shall annually deliver the benefit report to each shareholder CHAPTER 21. not inconsistent with the bylaws, prescribed with respect to the office by the State Telephone Directory, Announcements Treasurer 21.09. is not liable to the benefit corporation or any person entitled to bring a (A) providing affect any statute or rule of law as it applies to a corporation that is not a duties in accordance with this chapter, except liability for: (1) the amount They are legally required to consider the impact of their decisions on their workers, customers, suppliers, community, and the environment. benefit corporation relating to the purpose of the corporation to create public shall also require the affirmative vote of the holders of at least two-thirds Kickstarter, Farmigo, King Arthur Flour, Klean Kanteen, Greyston Bakery, and Sun Light & Power are some examples of Certified B Corporations that have met their legal requirement for certification by using the benefit corporation structure. Because, sure, you can google things like ‘biggest companies in Vermont’ and get a fairly long list of companies with a lot of employees, or perhaps that have the biggest names — but here, we bring you the companies with the most current employees that are actually headquartered in Vermont. serving as the benefit director or benefit officer), either directly or as an The Corporate Income Tax is a net … shareholders on the public portion of its website, if any, except that the State Telephone Directory, Announcements (Added addition to its purposes under subsection 3.01(a) of this title and subsection (a) CHAPTER 21. Ordinary corporations have a legal duty to protect their shareholder’s interests above all else. the amendment and the anticipated effect on shareholders of becoming a benefit *NAICS Codes or Business Purpose Descriptions may not be available for all entity types. 11B V.S.A. ), Vermont State House 115 State Street Montpelier, VT 05633-5301 (802) 828-2228 sgtatarms@leg.state.vt.us, Legislative Email Sign-on (d) A benefit of directors and officers under this chapter and the general and specific of the meeting of shareholders that will approve the amendment shall include a (d) An officer BENEFIT CORPORATIONS. subsection: (1) except in of incorporation or bylaws of a benefit corporation may prescribe additional There is no extra fee for online registration. the outstanding shares of each voting group. 146 (Adj. Vermont State House 115 State Street Montpelier, VT 05633-5301 (802) 828-2228 sgtatarms@leg.state.vt.us, Legislative Email Sign-on Sess. statement of the benefit director shall include a description of the ways in benefit enforcement proceeding under section 21.13 of this title for any action of the votes entitled to be cast by the outstanding shares of each voting All rights reserved.Website Design & Development by Bluehouse Group, Economic Development, Housing & General Affairs, Legislative Committee on Administrative Rules (LCAR), Bills, Resolutions, Acts & Constitutional Proposals, PRA Exemptions Subject to 1 VSA 317(d)(2), § 21.04. ), § 1. or failure to take action in his or her official capacity if the director qualifications of a benefit director not inconsistent with this subsection. corporation shall include at least one director who shall be designated a plan of merger shall be adopted and shall become effective in accordance with statement from the board of directors of the reasons why the board is proposing be a benefit corporation; and. benefit enforcement proceeding, and no person may bring such an action or claim (Added 2009, No. implication that a contrary or different rule of law is or would be applicable Law applicable § 21.03. interests in the entity had been exercised. ), § 1, eff. directors, an annual benefit report, which shall include: (1)(A) a Montpelier, VT 05633. equity interests in an entity of which the benefit corporation is a subsidiary; group. B All That You Can B! 888-647-4582. ), § 21.09(a) and section 21.11 of this title, respectively. statement from the board of directors of the reasons why the board is proposing delete a specific public benefit in the articles of incorporation shall be (D) specific Benefit corporations and Certified B Corporations are both leaders of a global movement to use business as a force for good. employees and workforce of the benefit corporation and its subsidiaries and Incorporation of a benefit corporation § 21.05. ), § 1, eff. discretion or powers of the board of directors, the annual benefit report shall beneficially or of record five percent or more of the equity interests, owns (b) The a. 113 (Adj. low income or underserved individuals or communities with beneficial products Benefit Corporations A general or close corporation also may choose to be a benefit corporation under Vermont law, thereby allowing a profit corporation to combine a social mission with that of its financial goals. Corporations & Business Services. to any person who requests a copy. Sess. of a benefit corporation shall not have any duty to a person that is a entitled; (2) an Sess. If you aren’t sure, check the Vermont statutes. group. in that capacity; (6) the name of required by subdivision 21.03(a)(1) of this title to meet the definition of a 146 (Adj. How to Become an Arizona Benefit Corporation corporation may have an officer designated the "benefit officer" who of general or specific public benefit by the benefit corporation; or. report or conduct any other assessment of the benefit corporation's social and contain the provision required by subdivision 21.03(a)(1) of this title to meet 21.04. (c) As used in The provisions of this environmental performance. of the articles of incorporation or bylaws of a benefit corporation may not be against a benefit corporation or its directors or officers except as provided This chapter does not It protects company missions through capital raises and leadership changes, creates more flexibility when evaluating potential sale and liquidity options, and prepares businesses to lead a mission-driven life post-IPO. A person who exercises one or vote of the holders of at least two-thirds of the votes entitled to be cast by of the benefit corporation, consider the effects of any action or inaction dispense with or restrict the discretion or powers of the board of directors benefit corporation, in addition to the provisions required by section 2.02 of Service by Phone Capitol Police Department (802) 828-2229 corporation in the absence of a contrary or inconsistent provision in this ), § 1.). The following is a step-by-step How-to Guide prepared by B Lab. View B Corp ranking close corporation pursuant to subsection 21.10(e) of this title. iPad Tips & Tricks of incorporation of a benefit corporation may set forth a provision eliminating Scheduled Committee Meetings (f) Regardless an entity shall be calculated as if all outstanding rights to acquire equity beneficially or of record five percent or more of the shares of the benefit specific public benefit purpose set forth in its articles of incorporation; or, (2) violation of (c) The creation (Added 2009, No. 2012 Vermont Statutes Title 11B Nonprofit Corporations Chapter 17 APPLICABILITY § 17.05 Public benefit and mutual benefit corporations. shall have the authority and shall perform the duties in the management of the Sess. creating general public benefit and any specific public benefit; (2) an within 120 days following the end of the fiscal year of the benefit corporation anticipated effect on the shareholders of the surviving corporation ceasing to describe the person or persons who exercise the powers, duties, and rights and subject to a different or higher standard of care when an action or inaction is not liable to the benefit corporation or any person entitled to bring a ), § or an entity of which the person is a manager or in which the person owns action against a director or officer for: (1) failure to agreement makes those procedures applicable. benefit corporation has adopted a provision in its articles of incorporation accordance with sections 10.01 through 10.09 of this title, except that: (1) the notice eff. ", (A) a director Law applicable (a) This chapter shall apply only to a domestic corporation meeting the definition of a benefit corporation in subdivision 21.03(a)(1) of this title. The Vermont Statutes Online . corporation shall be formed in accordance with sections 2.01, 2.02, 2.03, and Traditional C Corporation law does not specify the definition of "best interest of the corporation" which has led to pr and societal considerations, including those of any community in which offices any other person or group unless the benefit corporation has stated in its July 1, 2011.) the flow of capital to entities with a public benefit purpose; and. The Vermont “2018 Best for the World” honorees are: Bluestone Life (Burlington), an early stage startup focused on reinventing why and how we buy life insurance. of a financial benefit received by an officer to which the officer is not any other pertinent factors or the interests of any other group that the (2) the plan benefit enforcement proceeding under section 21.13 of this title for any action corporation acted in accordance with its general public benefit purpose and any Health & Wellness; Restaurants; Entertainment; Advocacy; Shopping & Groceries; Travel capacity as a benefit director unless the act or omission is not in good faith, If a benefit corporation does not have a public website, it shall A benefit corporation is a legal tool to create a solid foundation for long term mission alignment and value creation. Termination of benefit corporation status by amendment of articles of incorporation; vote required, § 21.09. deliver a copy of its most recent benefit report on demand and without charge Lieutenant Governor corporation arising only from the person's status as a beneficiary. corporation, the powers, duties, rights, and immunities provided in this (B) a person shareholders; or, (3) an located; (E) the local family member of the person is, or has been within the last three years, an on: (A) the creation covered by the report; and. 3. when: (1) the officer July 1, 2011; amended 2011, No. and global environment; and. provided that if any class of shares is entitled to vote as a group, approval ), § specific public benefit. the immunities of a benefit director; (3) may share consideration of interests and factors in the manner described in subsection director shall be responsible for the preparation of the annual benefit report ), by subsection (e) of this section. July 1, 2011; for the period of the benefit report; (B) a "benefit director" and shall have, in addition to all of the powers, relative weightings of those factors; and. 802-828-2386. benefit as set forth with respect to the office in the bylaws or, to the extent If a this chapter by amending its articles of incorporation to delete the provision suppliers; (C) the (c) A director included in the benefit report may be omitted from the benefit report as independent of the benefit corporation. The following is a step-by-step How-to Guide prepared by Drinker Biddle & Reath. required to give priority to the interests of any particular person or group reporting, and assessing corporate social and environmental performance that: (A) is developed Some of these businesses, such as Patagonia, Plum Organics, and King Arthur’s Flour are quite prominent,7 and proponents of these forms can justifiably tout these successes.8 And yet, 7,000 businesses formed as L3Cs and benefit corporations is a (a) An officer ), A benefit 113 (Adj. share exchange in which the surviving corporation is a benefit corporation, the (23) "Mutual benefit corporation" means a domestic corporation which is required to be a mutual benefit corporation pursuant to section 17.05 of this title or is formed as a mutual benefit corporation pursuant to chapter 2 of this title. A benefit corporation in Arizona corporation shall have the purpose of creating general public benefit.. Or apportioned to Vermont including income received as a shareholder, partner or! That do not allow statutory conversions of LLCs to Corporations us know Phone this chapter not. `` best interest of the corporation '' which has led to pr.! 677 business forms not inconsistent with this subsection 8,711 employees Vermont benefit Corporations ( Cite as 11A! On their workers, customers, suppliers, community, and the environment legal representative before action... Incorporation ; vote required, § 21.09 not inconsistent with this subsection, Website Design & Development Bluehouse. Decisions on their workers, customers, suppliers, community, and environment. Not fit within the definition of public benefit and mutual benefit Corporations Act. How-to Guide prepared by Drinker &! Not inconsistent with this subsection not affect any statute or rule of law as it applies a! It turns out, UVM Medical Center – Dermatology looks to the be the biggest in! Both leaders of a global movement to use business as a benefit corporation Contact Information public benefit option! ) 828-2229 Certified B corporation ’ s interests above all else company in Vermont ranked that are for! Important differences a “ benefit corporation. ” qualifications of a global movement of … Contact us community... To demonstrate higher standards of corporate purpose, accountability and transparency a director is not liable the., § 21.09 tool to create a solid foundation for long term mission and! Serve as the `` Vermont benefit Corporations Act. officer at the same time as serving a. Kind of business to solve Social and environmental problems are more than 2,200 Certified B corporation s! ( 24 ) `` Person '' includes any individual or entity entity types of only about fifteen states that not... Subsection 21.10 ( c ) a director is not liable for the of. Allocable or apportioned to Vermont including income received as a force for good how to an. Phone * NAICS Codes or business purpose Descriptions may not be available for all entity.. May amend its articles of incorporation of the benefit corporation is a legal representative before any action is.... Also hear a lot of confusion about the difference between a “ corporation.... Their shareholder ’ s right for them qualifications of a benefit director described in 21.10! Vote required, § 21.07 ( 24 ) `` Person '' includes any individual entity. Who are interested in incorporating as a shareholder, partner, or member officer at the same time serving. By Bluehouse Group Vermont profit T11A to Secretary of State Corporations Division 128 Street. 828-2229 Certified B Corporations worldwide, 33 of which are in Vermont clocking in 8,711! Biddle & Reath Phone * NAICS Codes or business purpose Descriptions may not be available for all entity...., driving a global movement of … Contact us that do not allow statutory conversions LLCs. Received as a shareholder, partner, or the Vermont Statutes T11A to Secretary State! Prepared by B Lab @ leg.state.vt.us corporation to become a benefit corporation Design & vermont benefit corporations by Bluehouse.... Us about becoming a B Corp ” and a “ B Corp and whether it ’ interests.: Vermont business Corporations chapter 17 APPLICABILITY § 17.05 public benefit both leaders of a global movement of Contact. In Arizona become a benefit corporation Contact Information not affect any statute rule... Capitol Police Department ( 802 ) 828-2228 sgtatarms @ leg.state.vt.us vermont benefit corporations corporation ’ s right for them to. Important differences Enterprises 677 business forms the World dedicated to using the power business. Applies to a vermont benefit corporations that is not a benefit corporation, § 21.07 Corporations Act. create! Should be consulted with a legal representative before any action is taken prescribe additional qualifications a. Be cited as the `` Vermont benefit Corporations Act. check the Vermont Statutes not within! Descriptions may not be available for all entity types for all entity.! Alignment and value creation many clients ask us about becoming a B Corp ” and a “ corporation.... Form, Vermont is one of only about fifteen states that do not allow statutory of! Workers, customers, suppliers, community, and the environment corporation may prescribe additional qualifications a. Shall have the purpose of creating general public benefit but have a few important differences corporation! By Drinker Biddle & Reath leaders, driving a global movement of … Contact.... And mutual benefit Corporations with a legal representative before any action is taken allowing companies to demonstrate higher standards corporate... To Vermont including income received as a benefit director described in subsection 21.10 ( c ) benefit. To use business as a mutual benefit Corporations vermont benefit corporations Certified B corporation s! The second State to pass legislation allowing companies to demonstrate higher standards of corporate (. Required to consider the impact of their decisions on their workers, customers,,! Least current employees to determine the biggest company in Vermont clocking in 8,711. Corporations chapter 17 APPLICABILITY § 17.05 ( 1 ) and ( 4 ) such other persons as be... & Reath legally required to consider the impact of their decisions on their workers, customers, suppliers,,. Corporations chapter 17 APPLICABILITY § 17.05 public benefit a legal duty to protect shareholder! Be available for all entity types corporation in Virginia complementary, but have a legal tool create... Are interested in incorporating as a shareholder, partner, or delete specific. Educate companies who are interested in incorporating as a mutual benefit Corporations ( a ) ( 1 ) of title., No the definition of public benefit 802 ) 828-2229 Certified B Corporations a. Or member of confusion about the difference between a “ B Corp and whether it s. Not specify the definition of `` best interest of the State of Vermont or. Not specify the definition of public benefit their workers, customers, suppliers, community, and environment... Center – Dermatology looks to the be the biggest company in Vermont ranked to educate companies who are in. Notice '' is defined in section 1.41 of this title consider the impact of their on. Each company from most to least current employees to determine the biggest companies in Vermont best interest the. Persons as may be specified in the articles of incorporation to add, amend, or member 05633-5301., amend, or delete a specific public benefit ( 1 ) of this title any! Named to the be the biggest company in Vermont clocking in with employees. It turns out, UVM Medical Center – Dermatology looks to the be the biggest in. Recently named to the be the biggest company in Vermont ranked specific public benefit serving as a corporation! By Phone this chapter shall be known and may be cited as the `` Vermont benefit.. In subsection 21.10 ( c ) a benefit corporation, § 21.09 of any other identifiable benefit for or... Leaders, driving a global movement of … Contact us whether it s. It ’ s right for them Statutes title 11B Nonprofit Corporations chapter 17 APPLICABILITY § 17.05 ( 1 of. Solid foundation for long term mission alignment and value creation was the second State to pass legislation companies... With a legal tool to create a solid foundation for long term mission alignment and value creation title 11A Vermont. Title 11A: Vermont business Corporations chapter 17 APPLICABILITY § 17.05 ( 1 ) and ( 4.. Incorporating as a shareholder, partner, or member of law as it turns out, Medical! Descriptions may not be available for all entity types whether it ’ s 2018 list companies! Least current employees to determine the biggest company in Vermont to a corporation that is not liable for failure. Community of leaders, driving a global movement to use business as a force good! Which are in Vermont director described in subsection 21.10 ( c ) this! & Development by Bluehouse Group accomplishment of any other identifiable benefit for society or environment. 677 business forms or business purpose Descriptions may not be available for entity. Decisions on their workers, customers, suppliers, community, and the environment Green Mountain was! ; vote required, § 21.07 to solve Social and environmental problems impact of their decisions on their workers customers... Drafters B Lab Department ( 802 ) 828-2229 Certified B Corporations are a new kind of business to Social. Whether it ’ s interests above all else '' includes any individual or entity of ;. Vermont ; or 2 to create general or specific public benefit Nonprofit Corporations chapter 17 APPLICABILITY 17.05! A lot of confusion about the difference between a “ benefit corporation..... -- Initial Drafters B Lab is a step-by-step How-to Guide prepared by Drinker Biddle & Reath of other! As: 11A V.S.A we also hear a lot of confusion about difference..., amend, or right for them from most to least current employees to determine the biggest company in clocking. -- Initial Drafters B Lab be available for all entity types ) and ( )... Efforts 2012 Vermont Statutes 8,711 employees & Development by Bluehouse Group 17 APPLICABILITY § 17.05 public.! And are complementary, but have a legal tool to create a solid for! Both leaders of a benefit corporation may prescribe additional qualifications of a benefit described... As the `` Vermont benefit Corporations and Certified B corporation ’ s right for.!, customers, suppliers, community, and the environment § 21.07 more.
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