Oklahoma § 18-1206 - General public benefit purpose
Full text of Oklahoma Oklahoma Statutes § 18-1206 — General public benefit purpose, with citation guidance and answers to common questions.
§ 18-1206. General public benefit purpose
A. A benefit corporation shall have a purpose of creating
general public benefit. This purpose is in addition to its purpose
under the Oklahoma General Corporation Act or the Oklahoma Banking
Code.
B. The certificate 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 in addition to its
purposes under the Oklahoma General Corporation Act or the Oklahoma
Banking Code and subsection A of this section. The identification
of a specific public benefit under this subsection does not limit
the purpose of a benefit corporation to create general public
benefit under subsection A of this section.
C. The creation of general public benefit and specific public
benefit under subsections A and B of this section shall be in the
best interests of the benefit corporation.
D. A benefit corporation may amend its certificate of
incorporation to add, amend or delete the identification of a
specific public benefit that it is the purpose of the benefit
Oklahoma Statutes - Title 18. Corporations
corporation to create. In order to be effective, the amendment
shall be adopted by at least the minimum status vote.
E. A professional corporation that is a benefit corporation
shall not violate the Professional Entity Act by having the purpose
to create general public benefit or a specific public benefit.
F. A state bank or trust company that is a benefit corporation
shall not violate the Oklahoma Banking Code by having the purpose to
create general public benefit or a specific public benefit, but
nothing in the Oklahoma Benefit Corporation Act shall eliminate,
diminish or supersede the duties of a benefit corporation that is a
state bank or trust company to operate safely and soundly in
accordance with applicable regulatory requirements.
Added by Laws 2019, c. 45, § 6, eff. Nov. 1, 2019.
Frequently Asked Questions About Oklahoma § 18-1206
What does Oklahoma Statutes § 18-1206 cover?
Section 18-1206 ("General public benefit purpose") is part of the Oklahoma Statutes, the codified statutory law of Oklahoma. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Oklahoma § 18-1206?
A common citation format is "Oklahoma Statutes § 18-1206" (Oklahoma). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Oklahoma law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Oklahoma official source linked on this page or consult a licensed Oklahoma attorney.
How does Oklahoma § 18-1206 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Oklahoma can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Oklahoma.