Kentucky Now Has Public
Benefit Corporations
As of today, public benefit
corporations may be organized in the Commonwealth of Kentucky. This new
organizational form, essentially a special form of a business corporation, will
afford corporations, their owners and their management greater flexibility with
respect to the application of corporate assets to purposes that may not
directly benefit the bottom line and shareholder wealth, but which provide
benefits to of the broader community.
With this new legislation,
Kentucky joins the majority of the states (including Delaware) that have
statutes to this effect.
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