Oklahoma § 18-2061

§ 18-2061.

Public benefit limited liability companies.

PUBLIC BENEFIT LIMITED LIABILITY COMPANIES.

A. Sections 23 through 29 of this act shall be known and may be

cited as the “Oklahoma Public Benefit Limited Liability Company Act”

and within such sections as this act.

B. A “public benefit limited liability company” is a for-profit

limited liability company formed under and subject to the

requirements of the Oklahoma Limited Liability Company Act including

a professional limited liability company, that is intended to

produce a public benefit or public benefits and to operate in a

responsible and sustainable manner as provided under this act. A

public benefit limited liability company is formed by filing

articles of organization as required under the Oklahoma Limited

Liability Company Act and further by stating in the heading of its

articles of organization that it is a public benefit limited

liability company and by setting forth one or more public benefits

to be promoted by the limited liability company in its articles of

organization. The operating agreement of a public benefit limited

liability company may not contain any provision inconsistent with

this act.

C. “Public benefit” means a positive effect, or reduction of

negative effects, on one or more categories of persons, entities,

communities or interests, other than members in their capacities as

members including effects of an artistic, charitable, cultural,

economic, educational, environmental, literary, medical, religious,

scientific or technological nature. “Public benefit provisions”

means the provisions of the articles of organization or an operating

agreement contemplated by this act.

Added by Laws 2021, c. 51, § 23, eff. Nov. 1, 2021.