{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/13.1-787.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/13.1-787.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/13.1-787.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/13.1-787.html"}],"law_id":56480,"edition_id":1,"section_id":56480,"structure_id":14746,"section_number":"13.1-787","catch_line":"Corporate purposes","history":"2011, c. 698.","full_text":"A\n\nA benefit corporation shall have as one of its purposes the purpose of creating a general public benefit. The articles of incorporation of a benefit corporation may identify one or more specific public benefits that it is the purpose of the benefit corporation to create. A specific public benefit may also be specified in the bylaws or otherwise adopted by the board of directors. This purpose is in addition to its purpose under § 13.1-626.B\n\nThe creation of a general public benefit and one or more specific public benefits, if any, under subsection A is in the best interests of the benefit corporation.C\n\nA benefit corporation may amend its articles of incorporation to add, amend, or delete the identification of a specific public benefit that it is the purpose of the benefit corporation to create, which amendment shall be adopted in accordance with the procedures set forth in § 13.1-707.","order_by":null,"text":{"0":{"id":206773,"text":"A benefit corporation shall have as one of its purposes the purpose of creating a general public benefit. The articles of incorporation of a benefit corporation may identify one or more specific public benefits that it is the purpose of the benefit corporation to create. A specific public benefit may also be specified in the bylaws or otherwise adopted by the board of directors. This purpose is in addition to its purpose under § 13.1-626.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":206774,"text":"The creation of a general public benefit and one or more specific public benefits, if any, under subsection A is in the best interests of the benefit corporation.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":206775,"text":"A benefit corporation may amend its articles of incorporation to add, amend, or delete the identification of a specific public benefit that it is the purpose of the benefit corporation to create, which amendment shall be adopted in accordance with the procedures set forth in § 13.1-707.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":14746,"edition_id":1,"name":"Benefit Corporations","identifier":"22","label":"article","depth":3,"order_by":1,"parent_id":12983,"metadata":{},"date_created":"2026-06-26 03:49:41","date_modified":"2026-06-26 03:49:41","permalink":{"id":150841,"object_type":"structure","relational_id":14746,"identifier":"22","token":"13.1\/9\/22","url":"\/13.1\/9\/22\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12983,"edition_id":1,"name":"Virginia Stock Corporation Act","identifier":"9","label":"chapter","depth":2,"order_by":1,"parent_id":12744,"metadata":{},"date_created":"2026-06-26 03:44:06","date_modified":"2026-06-26 03:44:06","permalink":{"id":150163,"object_type":"structure","relational_id":12983,"identifier":"9","token":"13.1\/9","url":"\/13.1\/9\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12744,"edition_id":1,"name":"Corporations","identifier":"13.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":147493,"object_type":"structure","relational_id":12744,"identifier":"13.1","token":"13.1","url":"\/13.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":76214,"structure_id":14746,"section_number":"13.1-782","catch_line":"Definitions","url":"\/13.1-782\/","token":"13.1\/9\/22\/13.1-782","metadata":false},{"id":74800,"structure_id":14746,"section_number":"13.1-783","catch_line":"Application and effect of article","url":"\/13.1-783\/","token":"13.1\/9\/22\/13.1-783","metadata":false},{"id":68368,"structure_id":14746,"section_number":"13.1-784","catch_line":"Formation of benefit corporations","url":"\/13.1-784\/","token":"13.1\/9\/22\/13.1-784","metadata":false},{"id":59299,"structure_id":14746,"section_number":"13.1-785","catch_line":"Election of status after formation","url":"\/13.1-785\/","token":"13.1\/9\/22\/13.1-785","metadata":false},{"id":80830,"structure_id":14746,"section_number":"13.1-786","catch_line":"Termination of status","url":"\/13.1-786\/","token":"13.1\/9\/22\/13.1-786","metadata":false},{"id":56480,"structure_id":14746,"section_number":"13.1-787","catch_line":"Corporate purposes","url":"\/13.1-787\/","token":"13.1\/9\/22\/13.1-787","metadata":false},{"id":67347,"structure_id":14746,"section_number":"13.1-788","catch_line":"Standard of conduct for directors","url":"\/13.1-788\/","token":"13.1\/9\/22\/13.1-788","metadata":false},{"id":81713,"structure_id":14746,"section_number":"13.1-789","catch_line":"Limitation upon liability of officers","url":"\/13.1-789\/","token":"13.1\/9\/22\/13.1-789","metadata":false},{"id":77944,"structure_id":14746,"section_number":"13.1-790","catch_line":"Right of action","url":"\/13.1-790\/","token":"13.1\/9\/22\/13.1-790","metadata":false},{"id":74425,"structure_id":14746,"section_number":"13.1-791","catch_line":"Annual benefit report","url":"\/13.1-791\/","token":"13.1\/9\/22\/13.1-791","metadata":false},{"id":67913,"structure_id":14746,"section_number":"13.1-792","catch_line":"Reserved","url":"\/13.1-792\/","token":"13.1\/9\/22\/13.1-792","metadata":false}],"previous_section":{"id":80830,"structure_id":14746,"section_number":"13.1-786","catch_line":"Termination of status","url":"\/13.1-786\/","token":"13.1\/9\/22\/13.1-786","metadata":false},"next_section":{"id":67347,"structure_id":14746,"section_number":"13.1-788","catch_line":"Standard of conduct for directors","url":"\/13.1-788\/","token":"13.1\/9\/22\/13.1-788","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/13.1-787\/","history_text":"

This law was first created in 2011. The record of its establishment is cataloged in chapter 698<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":false,"refers_to":[{"id":82695,"section_number":"13.1-707","catch_line":"Amendment of articles of incorporation by the board of directors and shareholders","order_by":null,"url":"\/13.1-707\/"}],"permalink":{"id":150863,"object_type":"law","relational_id":56480,"identifier":"13.1-787","token":"13.1\/9\/22\/13.1-787","url":"\/13.1-787\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/13.1-787\/","token":"13.1\/9\/22\/13.1-787","dublin_core":{"Title":"Corporate purposes","Type":"Text","Format":"text\/html","Identifier":"\u00a7 13.1-787","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> A benefit corporation<\/span> shall have as one of its purposes the purpose of creating a general public benefit<\/span>. The articles of incorporation<\/span> of a benefit corporation<\/span> may identify one or more specific public benefits<\/span> that it is the purpose of the benefit corporation<\/span> to create. A specific public benefit<\/span> may also be specified in the bylaws or otherwise adopted by the board of directors. This purpose is in addition to its purpose under § 13.1-626<\/a>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The creation of a general public benefit<\/span> and one or more specific public benefits<\/span>, if any, under subsection A is in the best interests<\/span> of the benefit corporation<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> A benefit corporation<\/span> may amend<\/span> its articles of incorporation<\/span> to add, amend<\/span>, or delete the identification of a specific public benefit<\/span> that it is the purpose of the benefit corporation<\/span> to create, which amendment shall be adopted in accordance with the procedures set forth in § 13.1-707<\/a>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCORPORATE PURPOSES (\u00a7 13.1-787)\n\nA. A benefit corporation shall have as one of its purposes the purpose of\ncreating a general public benefit. The articles of incorporation of a benefit\ncorporation may identify one or more specific public benefits that it is the\npurpose of the benefit corporation to create. A specific public benefit may also\nbe specified in the bylaws or otherwise adopted by the board of directors. This\npurpose is in addition to its purpose under § 13.1-626.\n\nB. The creation of a general public benefit and one or more specific public\nbenefits, if any, under subsection A is in the best interests of the benefit\ncorporation.\n\nC. A benefit corporation may amend its articles of incorporation to add, amend,\nor delete the identification of a specific public benefit that it is the purpose\nof the benefit corporation to create, which amendment shall be adopted in\naccordance with the procedures set forth in § 13.1-707.\n\nHISTORY: 2011, c. 698.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}