New Hampshire Enacts Benefit Corporations Statute

New Hampshire has become the latest state to enact a benefit corporations statute. In July 2014, Governor Maggie Hassan signed into law the New Hampshire Benefit Corporation Act, NH RSA 293-C. The law takes effect on January 1, 2015.
 
We have posted previously about benefit corporations—here, here, and here.
 
In chapter 20 at 20.4 of Business Law Basics, we explain benefit corporations as follows:

Benefit corporations are a relatively new corporate form that has already been adopted in more than half of the states and the District of Columbia. They are for-profit enterprises whose directors are permitted (and indeed may be required) to consider social benefit (for example, social welfare or environmental considerations) in addition to profit in their decisions. Many benefit corporation statutes, including the Model Legislation adopted by some states, have been criticized for (among other things) their vagueness as to the duties of directors and other corporate managers vis a vis shareholders and the general public. 
 
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In short, public benefit corporations fall within a new and still-developing area of law, one fraught with uncertainty for their directors and other decision-makers.
 

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