Effective July 27, House Bill 1510 provides for the formation of Benefit Corporations. This new type of corporation in Arkansas can be created for either a general public benefit or specific public benefit as defined in the entity’s Articles of Incorporation. The public benefit must provide a “material positive impact on society and the environment” and is assessed by a third-party. For more information, see the link below.
http://www.arkleg.state.ar.us/assembly/2013/2013R/Acts/Act1388.pdf
Arkansas – New Benefit Corporations