California is #6
The passage of the benefit corporation legislation makes California the 6th state to recognize a new form of corporation that is for-profit and committed to creating a positive impact on society and the environment. California joins Maryland, Vermont, Hawaii, Virginia, and New Jersey in the benefit corporation club.
A Look Back
If you have been following the benefit corporation legislation movement on the B Corporation public policy page, here on Innov8Social, or on any number of sites following the developments, you may have been awaiting the midnight decision.
You can catch up on the progress of AB 361 in California:
- starting from the Senate Committee on Banking & Finance,
- to CA Senate Judiciary Committee hearing,
- past the Senate Appropriations Committee,
- to the Senate Floor,
- back to to State Assembly, and
- to the Governor’s Desk.
A Look Ahead
Attorney Donald Simon Defines 3 Terms Related to AB 361 (Benefit Corporations) [VIDEO]
Attorney Donald Simon’s Q & A on California Benefit Corporation Legislation [VIDEO]
At times like this, it's important to time business moves right. In this case, deciding to file LLC after January 2012 would mean being under a different set of policies.