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North Carolina Benefit Corporation Act Re-Introduced by NC State House Representative Chuck McGrady

North Carolina Benefit Corporation Act Re-Introduced by NC State House Representative Chuck McGrady


B Legal Briefing
(April 20, 2015)

As reported in the Asheville Citizen-Times on April 6, 2015, Representative Chuck McGrady (Rep., District 117) of the NC House of Representatives re-introduced House Bill 534, the "North Carolina Benefit Corporation Act."  Because HB 534 did not reach the House floor, it did not make the April 30, 2015 crossover deadline for this session.

If this bill or other NC Benefit Corporation legislation ultimately passes, North Carolina would join the 29 other states (including Delaware, South Carolina, and Virginia) that have recognized this new corporate form. For a detailed map and chart discussing the benefit corporation legislation that has passed or is pending across the U.S., including an analysis of the differences between the model legislation from B Lab® and the slightly different Delaware/Colorado style legislation, visit our legislative status map and analysis chart by clicking here.

Authors
Lisa Frye Garrison
T (336) 378-5432
F (336) 433-7436
D. Clark Smith
T (336) 378-5442
F (336) 433-7447
Associated Attorneys
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