SECTION 607.506. Corporate purpose.

Latest version.

1(1) 2A social purpose corporation has the purpose of creating a public benefit. This purpose is in addition to its purpose under s. 24607.030125.
26(2) 27The articles of incorporation of a social purpose corporation may identify one or more specific public benefits as its purpose in addition to its purposes under subsection (1) and s. 57607.030158. A social purpose corporation may amend its articles of incorporation to add, amend, or delete the identification of a specific public benefit purpose; however, the amendment must be adopted by the minimum status vote.
93(3) 94The creation of a public benefit and a specific public benefit under subsections (1) and (2) is deemed to be in the best interest of the social purpose corporation.
123(4) 124A professional corporation that is a social purpose corporation does not violate s. 137621.08 138by having as its purpose the creation of a public benefit or a specific public benefit.

History.-s. 12, ch. 2014-209.

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