National State Attorneys General ProgramCharities Regulation and Oversight Project RESOURCES LIST SOCIAL MISSIONS/HYBRID CORPORATIONS MEETING AND WEBINAR JUNE 28-29, 2011... LOW-PROFIT L
Trang 1National State Attorneys General Program
Charities Regulation and Oversight Project
RESOURCES LIST SOCIAL MISSIONS/HYBRID CORPORATIONS MEETING AND WEBINAR
JUNE 28-29, 2011
Trang 2I ENACTED LEGISLATION
BENEFIT CORPORATION LEGISLATION
California
A.B 361, 2011–2012 Reg Sess (Cal 2011) (effective Jan 1, 2012), available at
http://www.leginfo.ca.gov/pub/11-12/bill/asm/ab_0351-0400/ab_361_bill_20111009_
chaptered.pdf, (codified at Cal Corp Code §§ 14600–14631)
Hawaii
S.B 298, 26th Leg., Reg Sess (Haw 2011) (effective Jul 8, 2011), available at
http://www.capitol.hawaii.gov/session2011/bills/SB298_CD1_.htm (codified at Haw Rev Stat §§ 420D-1 to -13)
Maryland
S.B 690, 427th Gen Assemb., Reg Sess (Md 2010) (effective Oct 1, 2010), available
at http://mlis.state.md.us/2010rs/bills/sb/sb0690t.pdf (codified at Md Code Ann., Corps
& Ass’ns §§ 5-6C-01 to -08)
New Jersey
S 2170, 214th Leg., 2d Ann Sess (N.J 2011) (effective Mar 1, 2011), available at
http://www.njleg.state.nj.us/2010/Bills/PL11/30_.PDF (codified at N.J Stat Ann §§ 14A:18-1 to -11)
New York
S 79-a, 234th Leg Sess (N.Y 2011) (effective Feb 10, 2012), available at
http://open.nysenate.gov/legislation/bill/S79A-2011 (codified at N.Y Bus Corp Law §§ 1700–1709
Vermont
S 263, Gen Assemb., 2009–2010 Leg Sess (Vt 2011) (effective Jul 1, 2011), available
at http://www.leg.state.vt.us/docs/2010/Acts/ACT113.pdf (codified at Vt Stat Ann tit
11A, §§ 21.01–.14); see also S 217, Gen Assemb., 2011–2012 Leg Sess (introduced
Jan 3, 2012) (seeking to amend requirements for closely-held benefit corporations)
Virginia
H.B 2358, 2011 Gen Assemb., Reg Sess (Va 2011) (effective Mar 26, 2011),
available at http://lis.virginia.gov/cgi-bin/legp604.exe?111+ful+CHAP0698+pdf
(codified at Va Code Ann §§ 13.1-782 to -791)
Trang 3LOW-PROFIT LIMITED LIABILITY COMPANY LEGISLATION
Illinois
S.B 239, 96th Gen Assemb., Reg Sess (Ill 2009) (effective Jan 1, 2010), available at
http://www.ilga.gov/legislation/96/SB/PDF/09600SB0239lv.pdf (codified as amended at
805 Ill Comp Stat 180 / 1-5, 1-10(a)(1), 1-26, 15-5)
Louisiana
H.B 1421, 2010 Leg., Reg Sess (La 2010) (effective Aug 15, 2010), available at
http://www.legis.state.la.us/billdata/streamdocument.asp?did=721792 (codified at La Rev Stat Ann §§ 12:1301(A)(21), :1302(C), :1305(B)(3), :1306(A)(1), :1309(A))
Maine
H.P 1118, 124th Leg., 2d Reg Sess (Me 2011) (effective Jul 1, 2011), available at
http://www.mainelegislature.org/legis/bills/bills_124th/chappdfs/PUBLIC629.pdf
(codified as amended at Me Rev Stat tit 31, §§ 1502, 1508, 1559, 1611)
Michigan
S.B 1445, 94th Leg., Reg Sess (Mich 2009) (effective Jan 16, 2009), available at
http://www.legislature.mi.gov/documents/2007-2008/publicact/pdf/2008-PA-0566.pdf (codified at Mich Comp Laws § 450.4102)
S.B 1446, 94th Leg., Reg Sess (Mich 2009) (effective Jan 16, 2009), available at
http://www.legislature.mi.gov/documents/2007-2008/publicact/pdf/2008-PA-0567.pdf (codified at Mich Comp Laws §§ 450.4204(2), 4803(1))
North Carolina
S.B 308, 2009 Gen Assemb., Reg Sess (N.C 2010) (effective Aug 3, 2010), available
at http://www.ncga.state.nc.us/Sessions/2009/Bills/Senate/PDF/S308v5.pdf (codified at
N.C Gen Stat §§ 55D-20(a), 57C-2-01(d), 57C-2-21(a)(6))
Rhode Island
H 5279A, 2011 Gen Assemb., Reg Sess (R.I 2011) (effective Jul 1, 2012) (same as S
353A), available at http://www.rilin.state.ri.us/PublicLaws/law11/law11079.htm
(codified at R.I Gen Laws §§ 7-16-2, -9, -49, -76)
Utah
S.B 148, 2009 Leg., Gen Sess (Utah 2009) (effective Jul 1, 2012), available at
http://le.utah.gov/~2009/bills/sbillenr/sb0148.pdf (codified as amended at Utah Code Ann §§ 48-3-102, -201, -202, -1301, -1302, -1303, -1304)
Vermont
H 775, Gen Assemb., 2007–2008Leg Sess (Vt 2008) (effective Apr 30, 2008),
available at http://www.leg.state.vt.us/docs/legdoc.cfm?URL=/docs/2008/acts/
ACT106.HTM (codified at Vt Stat Ann tit 11, §§ 3001(27), 3005(a), 3023(a))
Trang 4H.B 182, 60th Leg., Gen Sess (Wyo 2009) (effective Jul 1, 2009) available at
http://legisweb.state.wy.us/2009/Enroll/HB0182.pdf (codified as amended at Wyo Stat Ann §§ 17-29-102(a)(ix), -108, -705)
OTHER FOR-BENEFIT ENTITY LEGISLATION
California—Flexible Purpose Corporation
S.B 201, 2011–2012 Reg Sess (Cal 2011) (effective Jan 1, 2012), available at
http://www.leginfo.ca.gov/pub/11-12/bill/sen/sb_0201-0250/sb_201_bill_20111009_
chaptered.pdf, (codified at Cal Corp Code §§ 2500–4808)
Maryland—Benefit Limited Liability Company
H.B 1151/S.B 595, 2011 Gen Assemb., Reg Sess (Md 2011) (effective Jun 1, 2011),
available at http://mlis.state.md.us/2011rs/chapters_noln/Ch_501_hb1151E.pdf (codified
at Md Code Ann., Corps & Ass’ns §§ 11-4A-1101–11-4A-1108, 11-1-502, 5-6C-03)
II PROPOSED/PENDING LEGISLATION
BENEFIT CORPORATION LEGISLATION
Colorado
S.B 11-005, 68th Gen Assemb., 1st Reg Sess (Colo 2011) (introduced Jan 12, 2011;
postponed indefinitely Apr 20, 2011), available at http://www.leg.state.co.us/clics/
clics2011a/csl.nsf/fsbillcont/8ED39164DC36FEA28725780100604E88?
Open&file=005_01.pdf; see also Bill History,
http://www.colorado.gov/state-bill-results.html?billID
=SB11-005
Florida
H.B 757, 114th Leg., Reg Sess (Fla 2011) (introduced Nov 22, 2011), available at
http://www.myfloridahouse.gov/Sections/Documents/loaddoc.aspx?
FileName=_h0757 .docx&DocumentType=Bill&BillNumber=0757&Session=2012;
see also Bill History, http://www.myfloridahouse.gov/Sections/Bills/billsdetail.aspx?
BillId=48002
Illinois
S.B 2897, 97th Gen Assemb., Reg Sess (Ill 2012) (introduced Feb 1, 2012) (same as
H.B 4708), available at http://www.ilga.gov/legislation/97/SB/PDF/09700SB2897lv.pdf,
see also Bill History, http://www.ilga.gov/legislation/BillStatus.asp?DocNum=2897&
GAID=11&DocTypeID=SB&LegId=63455&SessionID=84&GA=97
Trang 5H.F 2154, 84th Gen Assemb., Reg Sess (Iowa 2012) (introduced Jan 31, 2012),
available at http://coolice.legis.state.ia.us/linc/84/external/HF2154_Introduced.pdf; see also Bill History, http://coolice.legis.state.ia.us/CoolICE/default.asp?Category=
BillInfo&Service=DspHistory&var=HF&key=0970C&GA=84
Michigan
S.B 359, 96th Leg., Reg Sess (Mich 2011) (introduced May 4, 2011) (same as H.B
4615), available at http://www.legislature.mi.gov/documents/2011-2012/billintroduced /Senate/pdf/2011-SIB-0359.pdf; see also Bill History, http://www.legislature.mi.gov/
(S(mxv4pz3b4voo2wnqkro5ro45))/mileg.aspx?page=BillStatus&objectname=2011-SB-0359
S.B 360, 96th Leg., Reg Sess (Mich 2011) (introduced May 4, 2011) (same as H.B
4616), available at http://www.legislature.mi.gov/documents/2011-2012/billintroduced /Senate/pdf/2011-SIB-0360.pdf; see also Bill History, http://www.legislature.mi.gov/(S(
mxv4pz3b4voo2wnqkro5ro45))/mileg.aspx?page=BillStatus&objectname=2011-SB-0360
Minnesota
S.F 1572, 87th Leg., Reg Sess (Minn 2012) (introduced Jan 26, 2012), available at https://www.revisor.mn.gov/bin/bldbill.php?bill=S1572.0.html&session=ls87; see also
Bill History, https://www.revisor.mn.gov/revisor/pages/search_status/status_detail.php? b=Senate&f=SF1572&ssn=0&y=2012
North Carolina
H.B 419/S.B 26, 2011 Gen Assemb., Reg Sess (N.C 2011) (introduced Mar 21,
2011), available at http://www.ncleg.net/Sessions/2011/Bills/House/PDF/H419v1.pdf;
see also Bill History, http://www.ncleg.net/gascripts/BillLookUp/BillLookUp.pl?BillID=
H419&Session=2011
Pennsylvania
H.B 1616, 2011 Gen Assemb., Reg Sess (Pa 2011) (introduced Jun 2, 2011),
available at http://www.legis.state.pa.us/CFDOCS/Legis/PN/Public/btCheck.cfm?
txtType=PDF&sessYr=2011&sessInd=0&billBody=H&billTyp=B&billNbr=1616&pn=1
999; see also Bill History, http://www.legis.state.pa.us/cfdocs/billinfo/bill_history.cfm
?syear=2011&sind=0&body=H&type=B&bn=1616
LOW-PROFIT LIMITED LIABILITY COMPANY LEGISLATION
Alabama
S.B 517, 2011 Reg Sess (Ala 2011) (introduced May 25, 2011), available at
http://alisondb.legislature.state.al.us/acas/searchableinstruments/2011RS/Printfiles//SB51
7-int.pdf; see also Bill History, http://alisondb.legislature.state.al.us/acas/
ACASLoginMac.asp?SESSION=1058
Trang 6S.B 1503, 50th Leg., 1st Reg Sess (Ariz 2011) (introduced Feb 1, 2011), available at http://www.azleg.gov/legtext/50leg/1r/bills/sb1503s.pdf; see also Bill History,
http://www.azleg.gov//FormatDocument.asp?
inDoc=/legtext/50leg/1r/bills/sb1503o.asp&Session_ID=102
Arkansas
S.B 5, 88th Gen Assemb., Reg Sess (Ark 2011) (introduced Jan 10, 2011), available
at http://www.arkleg.state.ar.us/assembly/2011/2011R/Bills/SB5.pdf; see also Bill
History, http://www.arkleg.state.ar.us/assembly/2011/2011R/Pages/BillInformation.aspx? measureno=SB5
District of Columbia
B19-0177, D.C Council, 19th Period (D.C 2011) (introduced Mar 15, 2011), available
at http://dcclims1.dccouncil.us/images/00001/20110606174650.pdf; see also Bill History,
http://dcclims1.dccouncil.us/lims/searchbylegislation.aspx
Georgia
H.B 594, 151st Gen Assemb., Reg Sess (Ga 2011) (introduced Mar 28, 2011),
available at http://www1.legis.ga.gov/legis/2011_12/pdf/hb594.pdf; see also Bill History,
http://www1.legis.ga.gov/legis/2011_12/sum/hb594.htm
Hawaii
H.B 2082, 26th Leg., Reg Sess (Haw 2012) (introduced Jan 19, 2012), available at http://www.capitol.hawaii.gov/session2012/bills/HB2082_.pdf, see also Bill History,
http://www.capitol.hawaii.gov/measure_indiv.aspx?billtype=HB&billnumber=2082 S.B 674, 26th Leg., Reg Sess (Haw 2011) (introduced Jan 21, 2011; carried over Dec
1, 2011); available at http://www.capitol.hawaii.gov/session2012/Bills/SB674_.HTM;
see also Bill History, http://www.capitol.hawaii.gov/measure_indiv.aspx?billtype=SB&
billnumber=674
Indiana
S.B 501, 117th Gen Assemb., 1st Reg Sess (Ind 2011) (introduced Jan 13, 2011),
available at http://www.in.gov/legislative/bills/2011/IN/IN0501.1.html.
Iowa
S.F 158, 84th Gen Assemb., 2011 Sess (Iowa 2011) (introduced Feb 7, 2011);
available at http://coolice.legis.state.ia.us/linc/84/external/SF158_Introduced.pdf; see also Bill History, http://coolice.legis.state.ia.us/Cool-ICE/default.asp?Category=BillInfo
&Service=DspHistory&var=SF&key=0180B&GA=84
Kentucky
H.B 110, 2011 Leg., Reg Sess (Ky 2011) (introduced Jan 4, 2011), available at
http://www.lrc.ky.gov/record/11RS/HB110.htm
Trang 7H.B 552, 428th Gen Assemb., Reg Sess (Md 2011) (introduced Feb 8, 2011) (same as
S.B 209), available at http://mlis.state.md.us/2011rs/bills/hb/hb0552f.pdf; see Bill
History; http://mlis.state.md.us/2011rs/billfile/hb0552.htm
Massachusetts
H.B 1868, 187th Gen Ct (Mass 2011) (introduced Jan 21, 2011), available at
http://www.malegislature.gov/Bills/BillHtml/14304?generalCourtId=1; see also Bill
History, http://www.malegislature.gov/Bills/187/House/H01868
Missouri
H.B 1561, 96th Gen Assemb., 2d Reg Sess (Mo 2012) (introduced Jan 30, 2012),
available at http://www.house.mo.gov/billtracking/bills121/billpdf/intro/HB1561I.PDF; see also Bill History, http://www.house.mo.gov/BillActions.aspx?bill=HB1561&year=
2012&code=R
Montana
H.B 415, 62nd Leg., 2011 Sess (Mont 2011) (introduced Feb 4, 2011; died in
committee Apr 28, 2011), available at http://data.opi.mt.gov/bills/2011/billpdf/HB 0415.pdf; see also Bill History, http://laws.leg.mt.gov/laws11/LAW0203W$BSRV
.ActionQuery?
P_BLTP_BILL_TYP_CD=HB&P_BILL_NO=415&P_BILL_DFT_NO=&P_CHPT_NO
=&Z_ACTION=Find&P_SBJ_DESCR=&P_SBJT_SBJ_CD=&P_LST_NM1=&P_ENT Y_ID_SEQ=
New Hampshire
S.B 352, 2012 Reg Sess (N.H 2012) (introduced Jan 4, 2012), available at
http://www.gencourt.state.nh.us/legislation/2012/SB0352.pdf; see also Bill History,
http://www.gencourt.state.nh.us/bill_status/bill_status.aspx?
lsr=2903&sy=2012&sortoption=&txtsessionyear=2012&txtbillnumber=sb352&q=1
New York
S.B 3011, 234th Leg Sess (N.Y 2011) (introduced Feb 7, 2011) (same as A.B 6116),
available at http://open.nysenate.gov/legislation/api/1.0/lrs-print/bill/S3011-2011; see also Bill History, http://open.nysenate.gov/legislation/bill/S3011-2011.
Oklahoma
H.B 1088, 53rd Leg., 1st Reg Sess (Okla 2011) (introduced Jan 18, 2011), available at
http://www.oklegislature.gov/BillInfo.aspx?Bill=HB%201088
Oregon
H.B 2745, 76th Leg Assemb (Or 2011) (introduced Jan 11, 2011), available at
http://www.leg.state.or.us/11reg/measpdf/hb2700.dir/hb2745.intro.pdf
Trang 8S.B 351, 2012 Gen Assemb., Reg Sess (Va 2012) (introduced Jan 11, 2012), available
at http://lis.virginia.gov/cgi-bin/legp604.exe?121+ful+SB351+pdf; see also Bill History,
http://lis.virginia.gov/cgi-bin/legp604.exe?ses=121&typ=bil&val=sb351
OTHER FOR-BENEFIT ENTITY LEGISLATION
Virginia—Benefit Limited Liability Company
H.B 354, 2012 Gen Assemb., Reg Sess (introduced Jan 11, 2012; tabled Feb 2, 2012),
available at http://lis.virginia.gov/cgi-bin/legp604.exe?121+ful+HB354+pdf; see also
Bill History, http://lis.virginia.gov/cgi-bin/legp604.exe?ses=121&typ=bil&val=hb354
ARTICLES AND VIDEO
Hybrid Orgs: The Basics (and origins)
VIDEO
Skoll Foundation, Social Entrepreneurs: Pioneering Social Change (Feb 18, 2009),
http://www.youtube.com/watch?v=jk5LI_WcosQ
Marion Fremont-Smith, Aviva Argote, & Luther M Ragin, Jr (panelists), Hybrid
Organizations: The New Face of Social Enterprise?, Hauser Center at Harvard (April 7,
2011), available at http://vimeo.com/23825209.
Shirley Tilghman, Introduction to Social Entrepreneurship, TEDxPrincetonU (2010),
http://www.youtube.com/watch?v=f6233bQk5A0
ARTICLES
California Legislative Summary: AB 361, as amended, Huffman Benefit Corporations,
available at http://www.law.columbia.edu/null/download?
&exclusive=filemgr.download&file_id=61861
California Legislative Summary: SB 201, as amended, DeSaulnier Flexible purpose
corporations: corporate mergers, http://www.law.columbia.edu/null/download?
&exclusive=filemgr.download&file_id=621373
Bradford E Block, L3C Doing Well and Doing Good: Low-Profit Limited Liability
Companies, 99 Ill B.J 310 (Jun 2011).
W Derrick Britt et al., Frequently Asked Questions: Proposed Amendments to the
California Corporations Code for a New Corporate Form: The Flexible Purpose
Corporation and Senate Bill 201 (Feb 23, 2011), http://www.law.columbia.edu/null/
Trang 9exclusive=filemgr.download&file_id=59229&showthumb=0
Caryn Capriccioso, Rick Zwetsch, & Erin Shaver, Who is the L3C Entrepreneur? (May 2010), available at http://americansforcommunitydevelopment.org/downloads/Whoisthe
L3CEntrepreneur.pdf
David Colander, Solving Society’s Problems from the Bottom Up: For-Benefit
Enterprises, Middlebury College.
Rosemary Fei, A Guide to Social Enterprise Vehicles, Taxation of Exempts, Jan.–Feb
2011, at 37, available at http://www.law.columbia.edu/null/A+Guide+to+Social+
Enterprise+Vehicles+%2800304109%29?
exclusive=filemgr.download&file_id=59214&showthumb=0
Timothy J Galpin & Greg R Bell, Social Entrepreneurship and the L3C Structure:
Bridging the Gap Between Non-Profit and For-Profit Ventures, Journal of Business and
Entrepreneurship, Oct 1, 2010, at 29
R Todd Johnson, Everything You Ever Wanted to Know About the Flexible Purpose
Corporation (And Then Some), Business For Good (Mar 7, 2011, 10:57 AM),
http://businessforgood.blogspot.com/2011/03/frequently-asked-questions-proposed.html
Robert A Katz & Antony Page, Symposium: Corporate Creativity: The Vermont L3C &
Other Developments in Social Entrepreneurship: The Role of Social Enterprise, 35 Vt L.
Rev 59 (2010), available at http://lawreview.vermontlaw.edu/articles/v35/1/16%20Page
%20&%20Katz%20L&E%20Book%201,%20Vol.%2035.pdf
Marjorie Kelly and Allen White, Symposium: The Bhopal Disaster Approaches 25:
Looking Back to Look Forward: Corporate Design: The Missing Organizational and Public Policy Issue of Our Time, 42 New Eng L Rev 761 (2008).
Robert Lang & Elizabeth Carrott Minnigh, Symposium: Corporate Creativity: The
Vermont L3C & Other Developments in Social Entrepreneurship: The L3C, History, Basic Construct, and Legal Framework, 35 Vt L Rev 15 (2010), available at
http://lawreview.vermontlaw.edu/articles/v35/1/12%20Lang%20&%20Minnigh%20Book
%201,%20Vol.%2035.pdf
Stephen Lloyd, Symposium: Corporate Creativity: The Vermont L3C & Other
Developments in Social Entrepreneurship: Creating the CIC, 35 Vt L Rev 31 (2010), available at http://lawreview.vermontlaw.edu/articles/v35/1/13%20LLoyd%20Book%
201,%20Vol.%2035.pdf
Susan A Maslow & Timothy White, Enlightened Capitalism and L3Cs, New Jersey Lawyer, April 2011, at 63, available at http://americansforcommunitydevelopment.org/
downloads/Maslow_enlightened_capitalism_and_l3cs.pdf
Trang 10NAAG/NASCO, The Benefit Corporation: Philanthrocapitalism’s Plan B?, 2010
NAAG/NASCO Conference, available at http://www.law.columbia.edu/null/B+corp+
powerpoint+-+nasco+2010?exclusive=filemgr.download&file_id=59213&showthumb
=0
Dana Brakman Reiser, Charity Law’s Essentials, 6 Notre Dame L Rev 1 (Feb 2011) Dana Brakman Reiser, Symposium: Corporate Creativity: The Vermont L3C & Other
Developments in Social Entrepreneurship: Blended Enterprise and The Dual Mission Dilemma, 35 Vt L Rev 105 (2010), available at http://lawreview.vermontlaw.edu/
articles/v35/1/17%20Brackman%20Reiser%20Book%201,%20Vol.%2035.pdf
S Comm on Commerce, Issue Brief 2011-210 (Fla 2010), available at
http://www.flsenate.gov/Committees/InterimReports/2011/2011-210cm.pdf
Stephen Schwarz, The Architecture of Charities’ Commercial Activities: Structural
Reactions: Basic Structures (2008), available at http://www.law.columbia.edu/null/
Schwarz-ArchitectureCharitiesCommercialActivities?exclusive=filemgr.download& file_id=59239&showthumb=0
Celia R Taylor, Carpe Crisis: Capitalizing on the Breakdown of Capitalism to Consider
the Creation of Social Businesses, 54 N.Y.L Sch L Rev 743 (2009–2010).
Cody Vitello, Introducing the Low-Profit Limited Liability Company (L3C): The New Kid
on the Block, 23 Loy Consumer L Rev 565 (2011), http://www.law.columbia.edu/null/
Vitello-L3C_NewKid+onBlock?exclusive=filemgr.download&file_id=59234&
showthumb=0
Arthur Wood, Symposium: Corporate Creativity: The Vermont L3C & Other
Developments in Social Entrepreneurship: New Legal Structures to Address The Social Capital Famine, 35 Vt L Rev 45 (2010), available at http://lawreview.vermontlaw.edu/
articles/v35/1/14%20Wood%20Book%201,%20Vol.%2035.pdf
The Social Entrepreneur’s Perspective
VIDEO
Jed Emerson, CIBC Presents Entrepreneurship 101: “Lived It Live” (the evolution of
social capital markets in the U.S.), http://vimeo.com/7984598.
Jed Smith, Kristen Groos Richmond, Peter Frykman & Russ Hall, Panel on Social
Entrepreneurship, Stanford Graduate School of Business (2010),
http://www.youtube.com/watch?v=SkCUalVWiW0