Louis E. Michelson, A Professional Corporation

Providing Legal and Tax Advisory Services to Nonprofit Organizations

Flexible Purpose Corporations and Benefit Corporations – Resources

February 8th, 2012 · No Comments · California nonprofit law, Uncategorized

Two new corporate entities in California became possible because of legislation sign in October, 2011; the new entities exist as of January 1, 2012.

Flexible Purpose Corporations were enacted into law with SB 201.  See the following link.

Benefit Corporations were enacted into law with AB 361.  See the following link.

These new entities have their supporters and detractors.   For a White Paper with arguments in favor of Benefit Corporations see the following link.  For an excellent presentation of views opposing the benefits corporations, please see the letter penned by the Corporations Committee of the Business Law Section of the State Bar of California at the following link.

A presentation on these entities is being made on Thursday, February 9, 2012 at the Beverly Hills Bar Association.  See the following link.

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