Maryland
Requirements:
- The ways in which the benefit corporation pursued general public benefit and the extent to which it was created.
- The ways in which the benefit corporation pursued a specific public benefit and the extent to which it was created.
- Any circumstances that have hindered the benefit corporation in creating the general or specific public benefit.
- While the statute requires a third-party standard to be used, it does not require the report to include the process and rationale for selecting the third-party standard.
- An assessment of the overall social and environmental performance against a third-party standard.
- The third-party standard must be applied consistently from 1 year to the next.
- If the standard is not applied consistently, the report must include the reasons for the inconsistency or the reasons for the change to the new standard.
- Report DOES NOT have to include the Name and Address of the Benefit Director and Officer, Director Compensation, Statement of the Benefit director, Conflicts between the Third-Party Standard Organization and the Benefit Corporation, or the production of any written correspondence concerning the circumstances surrounding a resignation, refusal, or removal of a benefit director.
- The report must be delivered within 120 days of the end of the benefit corporation’s fiscal year and posted on the benefit corporation’s public website if any exists.
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