Report of Ad Hoc Benefit Corporation Committee: Executive Committee, Business Law Section, State Bar of Georgia

Abstract

Due to recent corporate law developments across numerous states (including Delaware), the Executive Committee of the Business Law Section of the State Bar of Georgia sought to determine whether responsive legislation should be enacted in Georgia. Consequently, in February 2013, the Executive Committee appointed ten members of the Georgia Bar to a committee, The Ad Hoc Benefit Corporation Committee (the Committee), for the purpose of examining these recent corporate law developments and recommending changes (if any) to Georgia law to the Executive Committee for its further consideration. This document constitutes the Committee’s report to the Executive Committee. Part I of this report contains the Committee’s recommendations. Part II of this report contains detailed background information and the basis for the Committee’s recommendations.