Law Offices of

Bernard C. Dietz, PC

 
Blog Home About Us Contact Us Terms & Conditions
Business Services
Virginia Biz Law Blog
Form a Virginia LLC
Form a Virginia corporation
Form a Benefit Corporation
Registered Agent Services
Buying & Selling a Biz

Information box
Contact me today to discuss how I can help your business succeed.  I can be reached by telephone - 804-290-7990 - or email - Info@DietzLawFirm.com

  • Blogroll

  •  


    Archive for the 'Benefit corporations' Category

    Posted by Bernie Dietz
    Categories: Benefit corporations

    For a very long time, the two choices that for-profit enterprises had when choosing an entity form in Virginia was the corporation and the limited liability company (LLC).  Starting July 1st, Virginia is adding a choice for those entrepreneurs that want to have a for-profit entity but also want to be able to support a social mission with some of their profits.  This new entity is a type of stock corporation called a “benefit corporation.”

    On March 26, 2011, the Governor signed into law House Bill 2358, which added an article to the Virginia Code, title 13.1.  Under this new law, a corporation can elect to be a “benefit corporation” by so stating in its Articles of Incorporation (or amended Articles if transitioning from a stock corporation to a benefit corporation) and by stating the general public benefit that it will be providing.  Once complete, the benefit corporation can legally use part of its profits to support its stated general public benefit purpose.

    This new form of entity is perfect for entrepreneurs that want to blend non-profit and for-profit activities and create a hybrid that allows them to make money and do good at the same time.  If you would like my help forming your benefit corporation correctly, please visit my benefit corporations page on my web site.


    Posted: June 3rd, 2011 at 3:13 pm | | Email Post |
    Help others find this article at:







    You are currently browsing the archives for the Benefit corporations category.

    Feeds

  • Categories

  • Monthly Archives

         

    Law Offices of      Bernard C. Dietz, PC

    Send us an or call us today
    804.290.7990

    "Bernie Dietz has been my business advisor since 1999. I don't negotiate or even consider a deal without his advice and guidance. He writes all my contracts. Bernie keeps me away from bad deals, and he helps shape every deal so it's profitable... [more]

    Nick Corcodilos AskTheHeadhunter.com"

    Registered Agent
    Need a Registered Agent?  Have a Virginia lawyer serve as your registered agent. We offer services for foreign and domestic companies in Virginia - click here for more info
     
     
     
    Copyright 2007-16 Bernard C. Dietz, PC. All rights reserved

    DISCLOSURE: The information obtained in this website is for general information purposes only and should not be construed as legal advice. Each legal issue is different and the information contained on this website may not apply to your case. No attorney-client relationship is formed by reading this website or by sending email to The Law Office of Bernard C. Dietz, PC.