Everyone Gets a Texas Benefit Corporation!

No one is talking about this, but Texas recently passed a bill allowing for-profit corporations to elect a benefit corporation status. This is “uuuuugee.”

For years, legislation has gone up to the Texas Legislature and gone the way of Beanie Babies. But not this time!

I haven’t had a chance to digest everything entirely, but celebrating nonetheless. Look out for a follow-up post on some of the nuances and catches in the bill.

Plus, I’m already talking with clients about what a conversion would look like for them, so I’ll post on what other businesses will want to think about too.

In the meanwhile, here’s that text: http://www.legis.state.tx.us/tlodocs/85R/billtext/html/HB03488I.htm