Putting the B (for benefit) in The Big Apple
December 13, 2011
We are happy to report that the State of New York has become the seventh state to pass benefit corporation legislation, joining Maryland, Vermont, New Jersey, Hawaii, and California. At midnight last night, the New York Legislature unanimously passed bills S79-A and A4692-A, bringing New York within the fold of those states that are empowering companies with the business model of doing well while doing good.
Want to learn more about this groundbreaking legislation? Information about benefit corporation legislation can be found at www.bcorporation.net or you can speak to Donald Simon, the Wendel Rosen lawyer who helped draft similar legislation that was recently enacted in California.