When preparing your Certificate of Incorporation, you must create a mission statement acceptable to the IRS. uuid:ea9e2dd0-49db-5846-8244-ef95f6ca983f Specific Public Benefit Purpose. 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. Certificate of Incorporation . Creating a non-profit corporation is a two-step process. (Source: State of Delaware, USA) New Subchapter XV, for which Sections 8 and 9 of this legislation provide, authorizes the creation of public benefit corporations. These provisions modify the fiduciary duties of directors of PBCs by requiring them to balance such benefits […] A new Delaware law, signed on July 17 by Gov. On August 1, 2013, the Delaware legislature added a potentially important new subchapter to the General Corporation Law, allowing corporations to elect to be formed as, or convert to, a public benefit corporation (PBC) (Subchapter XV of Chapter 1, Title 8 of the Delaware Code). The Delaware general corporation is the most popular type of corporation for a small business. The entity information provided on this website, free of charge, consists of the entity name, file number, incorporation/formation date, registered agent name, address, phone number and residency. Dear Sir or Madam: Enclosed please find a form for a Certificate of corporation In for a Public Benefit However, in order to be a PBC, the corporation’s certificate of incorporation must identify one or more specific public benefits and must have a name that clearly identifies its status as a PBC. What is a Delaware Public Benefit Corporation? What is a Delaware Public Benefit Corporation? Many states do not currently track the names or number of benefit corporations. 2016-11-30T08:44:52+05:30 Laws, c. 86, § 36.; § 365 Duties of directors. This type of corporation is also often used by companies that wish to attract venture capital funding. Not public benefit corporations. More than one million business entities take advantage of Delaware's complete package of incorporation services, including modern and flexible corporate laws, our highly-respected Judiciary and legal community, a business-friendly government, and the customer-service-oriented staff of the Division of Corporations. A Delaware Public Benefit Corporation can be formed in the same manner as a Delaware Corporation, by filing a Certificate of Incorporation with the Delaware Division of Corporations. The new provisions will allow entrepreneurs and investors to create for-profit Delaware corporations that are charged with promoting public benefits. General Corporation. Jack Markell, allows companies to be formed as public benefit corporations (PBCs), which balance stockholders’ returns, the impact on other people affected by a company’s business activities, and the creation of an overall public benefit. _�ܓ�;-#� n���P�����S� �D[� !�R�@�B�\�1��34}f��PƗt �dx�ap� U�r���\#wRÑ6Ti��\G\��=�T�B��]&T��GW�U8CB��\��+�+@y ?-�΀M/��8e}��x�˰H���\/��*��zy�:GG.5� However, in every other manner, the structure of a Delaware Public Benefit Corporation mirrors the structure of any type of Delaware Corporation. 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