California Governor Jerry Brown announced today that he signed into law AB 361 (Benefit corporations) and SB 201 (Flexible purpose corporations). These laws will provide social entrepreneurs with two additional forms of legal entities to consider when creating their social enterprises and represents a tremendous step forward for businesses looking to factor social good into their traditional bottom lines.
Click here for our Benefit and Flexible Purpose Corporation handout.
I’ll be speaking about both of these new entities and the L3C (not yet in California) on Friday, October 14, to the Santa Barbara County Bar Association Tax Section. And Emily and I will be presenting on social enterprise legal entities at the Net Impact Annual Conference in Portland, Oregon on Saturday, October 29.