Mississippi House Bill 703 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
Status: Failed on February 2 2021 - 100% progression
Action: 2021-02-02 - Died In Committee
Text: Latest bill text (Introduced) [HTML]

An Act To Create The "mississippi Benefit Corporation Act"; To Provide That A Corporation Subject To The Mississippi Benefit Corporation Act May Be Simultaneously Subject To The Mississippi Business Corporation Act And The Mississippi Professional Corporation Act; To Provide Certain Definitions; To Require A Benefit Corporation To Be Incorporated In Accordance With The Mississippi Business Corporation Act; To Provide That A Business Corporation May Elect To Become A Benefit Corporation; To Provide That A Benefit Corporation May Terminate Its Benefit Corporation Status; To Require A Benefit Corporation To Have A Purpose Of Creating General Public Benefit; To Specify The Standard Of Conduct For Benefit Corporation Directors; To Authorize The Board Of Directors Of A Benefit Corporation To Designate A Benefit Director; To Specify The Standard Of Conduct For Officers; To Authorize A Benefit Corporation To Designate A Benefit Officer; To Limit The Liability Of Benefit Corporations For Certain Actions Regarding Its Failure To Pursue General Public Benefit; To Require A Benefit Corporation To Prepare An Annual Benefit Report; To Require A Benefit Corporation To Send Its Benefit Report To Shareholders And Make It Available On Its Website Or Provide Copies Upon Request; To Bring Forward Sections 79-4-2.01, 79-4-2.02, 79-4-2.03, 79-4-2.04, 79-4-2.05, 79-4-2.06, 79-4-2.07, 79-4-3.01, 79-4-7.40, 79-4-7.48, 79-4-8.08, 79-4-8.09, 79-4-8.30, 79-4-8.41, 79-4-8.42 And 79-10-19, Mississippi Code Of 1972, For Purposes Of Possible Amendment; To Amend Section 79-4-11.04, Mississippi Code Of 1972, To Make Certain Technical Amendments; And For Related Purposes.

Mississippi Benefit Corporation Act; create.

Rep. Orlando Paden [D]

Date	Chamber	Action
2021-02-02	House	Died In Committee
2021-01-18	House	Referred To Judiciary A

Chapter	Article	Section	Citation Type	Statute Text
79	10	19	New Code	See Bill Text
79	4	11	Amended Code	See Bill Text
79	4	2	New Code	See Bill Text
79	4	3	New Code	See Bill Text
79	4	7	New Code	See Bill Text
79	4	8	New Code	See Bill Text

Type	Source
Summary	https://billstatus.ls.state.ms.us/2021/pdf/history/HB/HB0703.xml
Text	https://billstatus.ls.state.ms.us/documents/2021/html/HB/0700-0799/HB0703IN.htm