2022 South Carolina Code of Laws
Title 33 - Corporations, Partnerships and Associations
Chapter 38 - South Carolina Benefit Corporation Act
Section 33-38-300. Corporate purposes for benefit corporations.
(A) In addition to corporate purposes provided in Section 33-3-101, a benefit corporation shall have as one of its corporate purposes the creation of a general public benefit.
(B) A benefit corporation may include as a corporate purpose in its articles of incorporation one or more specific public benefit purposes in addition to its purposes under subsection (A) of this section. The identification of a specific public benefit purpose pursuant to this subsection does not limit the obligation of a benefit corporation pursuant to subsection (A).
(C) A benefit corporation may amend its articles of incorporation to add, amend, or remove the identification of a specific public benefit purpose. The amendment must be approved by the shareholders of the benefit corporation in the manner required by Section 33-38-230.
(D) The creation of general public benefit and specific public benefit pursuant to subsections (A) and (B) is in the best interests of a benefit corporation.
(E) A professional corporation that is a benefit corporation does not violate Section 33-19-110.
HISTORY: 2012 Act No. 277, Section 1, eff June 14, 2012.
