Kansas

Requirements:

  1. A PBC is required to provide to stockholders, at least annually and at the time of the filing of the PBC’s annual report, a statement regarding the PBC’s promotion of the public benefits identified in the articles of incorporation and of the best interests of those materially affected by the corporation’s conduct. 
  2. This statement must include objectives and standards established by the board of directors, as well as objective factual information based on those standards regarding the PBC’s success in meeting the objectives and an assessment of the PBC’s success in meeting the objectives and promoting the public benefits and interests. 
  3. The bill requires the statement to be based on a third-party standard, as defined in the bill. 
  4. A PBC is required to post its most recent statement on the public portion of its website.
  5. If the PBC does not have a website, it is required to provide a copy of the statement, without charge, to any person requesting a copy, except that compensation paid to directors and any other financial or proprietary information may be omitted from any statement publicly posted or distributed. 
  6. The articles of incorporation or bylaws may require the PBC to obtain a periodic third-party certification addressing the PBC’s promotion of its public benefits or the best interests of those materially affected by the corporation’s conduct, or both.

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