Arizona

Requirements:

  1. A narrative description of:
    1. The ways in which the benefit corporation pursued general public benefit during the year and the extent to which general public benefit was created.
    2. Both:
      1. The ways in which the benefit corporation pursued a specific public benefit that the articles of incorporation state are the purpose of the benefit corporation to create.
      2. The extent to which the specific public benefit was created.
    3. Any circumstances that have hindered the benefit corporation in creating general public benefit or a specific public benefit.
    4. The process and rationale for selecting or changing the third-party standard used to prepare the benefit report.
  2. An assessment of the overall social and environmental performance of the benefit corporation against a third-party standard that is either of the following:
    1. Applied consistently with any application of that standard in prior benefit reports.
    2. Accompanied by an explanation of the reasons for either of the following:
      1. Any inconsistent application.
      2. The change to that standard from the one used in the immediately prior report.
  3. The compensation paid by the benefit corporation during the year to each director in the capacity of a director.
  4. A statement of any connection between the organization that established the third-party standard, or its directors, its officers, or any holder of five percent or more of the governmental interests in the organization and the benefit corporation or its directors, its officers, or any holder of five percent or more of the outstanding shares of the benefit corporation, or any other financial or governance relationship that might materially affect the credibility of the use of the third-party standard.
  5. Availability: A benefit corporation shall send its annual benefit report to each shareholder:
    1. Within one hundred twenty days following the end of the fiscal year of the benefit corporation.
    2. At the same time, the benefit corporation delivers any other annual report to its shareholders.
    3. A benefit corporation shall post all of its benefit reports on the public portion of its internet website, if any, except that the compensation paid to directors and financial or proprietary information included in the benefit reports may be omitted from the benefit reports as posted. 
    4. If a benefit corporation does not have an internet website, the benefit corporation shall provide a copy of its most recent benefit report, without charge, to any person that requests a copy, except that the compensation paid to directors and financial or proprietary information included in the benefit report may be omitted from the copy of the benefit report provided.
    5. Concurrently with the delivery of the benefit report to shareholders under subsection a of this section, the benefit corporation shall deliver a copy of the benefit report to the Arizona corporation commission for filing, except that the compensation paid to directors and financial or proprietary information included in the benefit report may be omitted from the benefit report as delivered to the Arizona corporation commission. 

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