Arizona has adopted a new type of corporation with more than just the bottom line in mind.
Called a “benefit corporation,” this type of for-profit entity must have a purpose of creating a “general public benefit,” in addition to the general corporate purpose of conducting business in the state.
Legislation to create benefit corporations was passed by lawmakers and signed into law by Gov. Jan Brewer in late April. The law goes into effect in 2015.
Read all about the new corporate kid on the block Monday in the Arizona Daily Star and on StarNet.