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For Profit Corporations with a Social Mission – Pennsylvania’s New Benefit Corporation Act

On January 7, 2013 by Schnader

A new Pennsylvania Benefit Corporation Act (the “Act”) becomes effective on January 23, 2013. The Act authorizes a new type of corporation (a “Benefit Corporation”) in which directors are required to focus on social and environmental concerns in addition to making a profit. This Alert describes the statutory requirements of Benefit Corporations.

Please click here to read the full Alert.