establish public benefit corporations in South Dakota.

Summary

The bill lets companies organized under the existing corporate code choose to become a public benefit corporation, which must state a public‑benefit purpose in its charter and balance profit with that benefit. It applies to any for‑profit entity that can amend its articles, and it sets rules for naming, shareholder votes, board duties, and how a corporation can later drop the status. The measure failed after being deferred to the 41st legislative day.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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