(Effective January 1, 2021.) Definitions

  1. Law
  2. Georgia Code
  3. Corporations, Partnerships, and Associations
  4. Business Corporations
  5. Benefit Corporations
  6. (Effective January 1, 2021.) Definitions

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As used in this article, the term:

  1. "Benefit corporation" means a corporation whose articles of incorporation contain a public benefit provision and a statement that the corporation is a benefit corporation.
  2. "Public benefit" means a positive effect, or reduction of negative effects, on society, on the environment, or on one or more communities or categories of persons, entities, or interests, other than shareholders in their capacity as shareholders, including effects of an artistic, charitable, cultural, economic, ecological, educational, environmental, literary, medical, religious, scientific, social, or technological nature.
  3. "Public benefit provision" means a provision stating that a purpose of the corporation is to pursue a public benefit or benefits.

(Code 1981, §14-2-1802, enacted by Ga. L. 2020, p. 305, § 1-1/HB 230.)


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