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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>56480</law_id><section_number>13.1-787</section_number><catch_line>Corporate purposes</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="13.1">Corporations</unit><unit label="chapter" level="2" order_by="1" identifier="9">Virginia Stock Corporation Act</unit><unit label="article" level="3" order_by="1" identifier="22">Benefit Corporations</unit></structure><text>
						<section id="A"><p><span class="prefix-number">A.</span> A <span class="dictionary">benefit corporation</span> shall have as one of its purposes the purpose of creating a <span class="dictionary">general public benefit</span>. The <span class="dictionary">articles of incorporation</span> of a <span class="dictionary">benefit corporation</span> may identify one or more <span class="dictionary">specific public benefits</span> that it is the purpose of the <span class="dictionary">benefit corporation</span> to create. A <span class="dictionary">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 &#xA7; <a class="law" title="Purposes" href="/13.1-626/">13.1-626</a>. <a id="paragraph-206773" class="section-permalink" href="https://vacode.org/13.1-787/#A"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> The creation of a <span class="dictionary">general public benefit</span> and one or more <span class="dictionary">specific public benefits</span>, if any, under subsection A is in the best <span class="dictionary">interests</span> of the <span class="dictionary">benefit corporation</span>. <a id="paragraph-206774" class="section-permalink" href="https://vacode.org/13.1-787/#B"><i class="fa fa-link"/></a></p></section>
						<section id="C"><p><span class="prefix-number">C.</span> A <span class="dictionary">benefit corporation</span> may <span class="dictionary">amend</span> its <span class="dictionary">articles of incorporation</span> to add, <span class="dictionary">amend</span>, or delete the identification of a <span class="dictionary">specific public benefit</span> that it is the purpose of the <span class="dictionary">benefit corporation</span> to create, which amendment shall be adopted in accordance with the procedures set forth in &#xA7; <a class="law" title="Amendment of articles of incorporation by the board of directors and shareholders" href="/13.1-707/">13.1-707</a>. <a id="paragraph-206775" class="section-permalink" href="https://vacode.org/13.1-787/#C"><i class="fa fa-link"/></a></p></section></text><history>2011, c. 698.</history><metadata></metadata></law>
