4-36-304. Benefit officer.

Arkansas Code — all titles (historical 2020) · legal_authorities

4-36-304. Benefit officer. (a) A benefit corporation may have an officer designated as the benefit officer. (b) A benefit officer shall have: (1) The powers and duties relating to the purpose of the corporation to pursue a general public benefit or a specific public benefit provided: (A) By the bylaws; or (B) Absent controlling provisions in the bylaws, by resolutions or orders of the board of directors; and (2) The duty to prepare the benefit report required by § 4-36-401.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 4-36-304

Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.

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Arkansas Code — all titles (historical 2020) · legal_authorities

4-36-401. Annual reports.

4-36-401. Annual reports. (a)(1) A benefit corporation shall prepare an annual benefit report and an annual franchise tax report under § 26-54-104. (2) An annual benefit report shall include: (A) A narrative description of: (i) The ways in which the benefit corporation pursued the general public benefit during the year and the extent to which the general public benefit was pursued; (ii) Both: (a) The ways in which the benefit corporation pursued a specific public benefit that the articles of incorporation state is the purpose of the benefit corporation to pursue; and (b) The extent to which that specific public benefit was pursued; (iii) Circumstances that have hindered the creation by the benefit corporation of a general public benefit or a specific public benefit; and (iv) The process and rationale for selecting or changing the third-party standard used to prepare the benefit report; (B)(i) An assessment of the overall social and environmental performance of the benefit corporation against a third-party standard: (a) Applied consistently with an application of that standard in earlier benefit reports; or (b) Accompanied by an explanation of the reasons for an inconsistent application. (ii) The assessment does not need to be performed, audited, or certified by a third-party standards provider; (C) The name of the benefit director and the benefit officer and the address to which correspondence to each of them may be directed; (D) The compensation paid by the benefit corporation during the year to each director for serving in the capacity of a director; (E) The statement of the benefit director described in § 4-36-302; and (F) A statement of the connection between the organization that established the third-party standard or its director

Source: Arkansas Code — historical release 78 (November 6, 2020) · 4-36-401

Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 4-36-401. This identifies an authority to review, not proof of applicability.