A Quest for Hybrid Companies - Part Money-Maker, Part Nonprofit - NYTimes.com: California is the latest state to adopt a statute permitting what is called flexible-purpose corporations, new companies that are part social benefit and part low-profit entities. The companies are now allowed under laws in more than a dozen states and two Indian tribes.
States like New York and Massachusetts are weighing comparable legislation — sometimes also known as low-profit limited liability or benefit corporations
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