National State Attorneys General Program
Charities Regulation and Oversight Project
RESOURCES LIST
Social Missions/Hybrid Corporations Meeting and Webinar
June 28-29, 2011
I. ENACTED LEGISLATION
BENEFIT CORPORATION LEGISLATION
California
A.B. 361, 2011–2012 Reg. Sess. (Cal. 2011) (effective Jan. 1, 2012), available at
chaptered.pdf, (codified at Cal. Corp. Code §§ 14600–14631).
Hawaii
S.B. 298, 26th Leg., Reg. Sess. (Haw. 2011) (effective Jul. 8, 2011), available at (codified at Haw. Rev. Stat. §§ 420D-1 to -13).
Maryland
S.B. 690, 427th Gen. Assemb., Reg. Sess. (Md. 2010) (effective Oct. 1, 2010), available at (codified at Md. Code Ann., Corps. & Ass’ns §§5-6C-01 to -08).
New Jersey
S. 2170, 214th Leg., 2d. Ann. Sess. (N.J. 2011) (effective Mar. 1, 2011), available at (codified at N.J. Stat. Ann. §§ 14A:18-1 to -11).
New York
S. 79-a, 234th Leg. Sess. (N.Y. 2011) (effective Feb. 10, 2012), available at (codified at N.Y. Bus. Corp. Law §§ 1700–1709.
Vermont
S. 263, Gen. Assemb., 2009–2010 Leg. Sess. (Vt. 2011) (effective Jul. 1, 2011), available at (codified at Vt. Stat. Ann. tit. 11A, §§ 21.01–.14); see also S. 217, Gen. Assemb., 2011–2012 Leg. Sess. (introduced Jan. 3, 2012) (seeking to amend requirements for closely-held benefit corporations).
Virginia
H.B. 2358, 2011 Gen. Assemb., Reg. Sess. (Va. 2011) (effective Mar. 26, 2011), available at (codified at Va. Code Ann. §§ 13.1-782 to -791).
LOW-PROFIT LIMITED LIABILITY COMPANY LEGISLATION
Illinois
S.B. 239, 96th Gen. Assemb., Reg. Sess. (Ill. 2009) (effective Jan. 1, 2010), available at (codified as amended at 805 Ill. Comp. Stat. 180 / 1-5, 1-10(a)(1), 1-26, 15-5).
Louisiana
H.B. 1421, 2010 Leg., Reg. Sess. (La. 2010) (effective Aug. 15, 2010), available at (codified at La. Rev. Stat. Ann. §§ 12:1301(A)(21), :1302(C), :1305(B)(3), :1306(A)(1), :1309(A)).
Maine
H.P. 1118, 124th Leg., 2d Reg. Sess. (Me. 2011) (effective Jul. 1, 2011), available at (codified as amended at Me. Rev. Stat. tit 31, §§ 1502, 1508, 1559, 1611).
Michigan
S.B. 1445, 94th Leg., Reg. Sess. (Mich. 2009) (effective Jan. 16, 2009), available at (codified at Mich. Comp. Laws § 450.4102).
S.B. 1446, 94th Leg., Reg. Sess. (Mich. 2009) (effective Jan. 16, 2009), available at (codified at Mich. Comp. Laws §§ 450.4204(2), .4803(1))
North Carolina
S.B. 308, 2009 Gen. Assemb., Reg. Sess. (N.C. 2010) (effective Aug. 3, 2010), available at (codified at N.C. Gen. Stat. §§ 55D-20(a), 57C-2-01(d), 57C-2-21(a)(6)).
Rhode Island
H 5279A, 2011 Gen. Assemb., Reg. Sess. (R.I. 2011) (effective Jul. 1, 2012) (same as S 353A), available at (codified at R.I. Gen. Laws §§ 7-16-2, -9, -49, -76).
Utah
S.B. 148, 2009 Leg., Gen. Sess. (Utah 2009) (effective Jul. 1, 2012), available at (codified as amended at Utah Code Ann. §§ 48-3-102, -201, -202, -1301, -1302, -1303, -1304).
Vermont
H. 775, Gen. Assemb., 2007–2008Leg. Sess. (Vt. 2008) (effective Apr. 30, 2008), available at ACT106.HTM (codified at Vt. Stat. Ann. tit. 11, §§ 3001(27), 3005(a), 3023(a)).
Wyoming
H.B. 182, 60th Leg., Gen. Sess. (Wyo. 2009) (effective Jul. 1, 2009) available at (codified as amended at Wyo. Stat. Ann. §§ 17-29-102(a)(ix), -108, -705).
OTHER FOR-BENEFIT ENTITY LEGISLATION
California—Flexible Purpose Corporation
S.B. 201, 2011–2012 Reg. Sess. (Cal. 2011) (effective Jan. 1, 2012), available at chaptered.pdf, (codified at Cal. Corp. Code §§ 2500–4808).
Maryland—Benefit Limited Liability Company
H.B. 1151/S.B. 595, 2011 Gen. Assemb., Reg. Sess. (Md. 2011) (effective Jun. 1, 2011), available at (codified at Md. Code Ann., Corps. & Ass’ns §§11-4A-1101–11-4A-1108, 11-1-502, 5-6C-03).
II. PROPOSED/PENDING LEGISLATION
BENEFIT CORPORATION LEGISLATION
Colorado
S.B. 11-005, 68th Gen. Assemb., 1st Reg. Sess. (Colo. 2011) (introduced Jan. 12, 2011; postponed indefinitely Apr. 20, 2011), available at
clics2011a/csl.nsf/fsbillcont/8ED39164DC36FEA28725780100604E88?Open&file=005_01.pdf; see also Bill History,
=SB11-005.
Florida
H.B. 757, 114th Leg., Reg. Sess. (Fla. 2011) (introduced Nov. 22, 2011), available at see also Bill History,
Illinois
S.B. 2897, 97th Gen. Assemb., Reg. Sess. (Ill. 2012) (introduced Feb. 1, 2012) (same as H.B. 4708), available at see also Bill History,
GAID=11&DocTypeID=SB&LegId=63455&SessionID=84&GA=97.
Iowa
H.F. 2154, 84th Gen. Assemb., Reg. Sess. (Iowa 2012) (introduced Jan. 31, 2012), available at see also Bill History,
BillInfo&Service=DspHistory&var=HF&key=0970C&GA=84.
Michigan
S.B. 359, 96th Leg., Reg. Sess. (Mich. 2011) (introduced May 4, 2011) (same as H.B. 4615), available at
/Senate/pdf/2011-SIB-0359.pdf; see also Bill History,
(S(mxv4pz3b4voo2wnqkro5ro45))/mileg.aspx?page=BillStatus&objectname=2011-SB-0359.
S.B. 360, 96th Leg., Reg. Sess. (Mich. 2011) (introduced May 4, 2011) (same as H.B. 4616), available at
/Senate/pdf/2011-SIB-0360.pdf; see also Bill History,
mxv4pz3b4voo2wnqkro5ro45))/mileg.aspx?page=BillStatus&objectname=2011-SB-0360.
Minnesota
S.F. 1572, 87th Leg., Reg. Sess. (Minn. 2012) (introduced Jan. 26, 2012), available at see also Bill History,
b=Senate&f=SF1572&ssn=0&y=2012.
North Carolina
H.B. 419/S.B. 26, 2011 Gen. Assemb., Reg. Sess. (N.C. 2011) (introduced Mar. 21, 2011), available at see also Bill History,
H419&Session=2011.
Pennsylvania
H.B. 1616, 2011 Gen. Assemb., Reg. Sess. (Pa. 2011) (introduced Jun. 2, 2011), available at
txtType=PDF&sessYr=2011&sessInd=0&billBody=H&billTyp=B&billNbr=1616&pn=1999; see also Bill History,
?syear=2011&sind=0&body=H&type=B&bn=1616.
LOW-PROFIT LIMITED LIABILITY COMPANY LEGISLATION
Alabama
S.B. 517, 2011 Reg. Sess. (Ala. 2011) (introduced May 25, 2011), available at see also Bill History, ACASLoginMac.asp?SESSION=1058.
Arizona
S.B. 1503, 50th Leg., 1st Reg. Sess. (Ariz. 2011) (introduced Feb. 1, 2011), available at see also Bill History,
Arkansas
S.B. 5, 88th Gen. Assemb., Reg. Sess. (Ark. 2011) (introduced Jan. 10, 2011), available at see also Bill History,
measureno=SB5.
District of Columbia
B19-0177, D.C. Council, 19th Period (D.C. 2011) (introduced Mar. 15, 2011), available at see also Bill History,
Georgia
H.B. 594, 151st Gen. Assemb., Reg. Sess. (Ga. 2011) (introduced Mar. 28, 2011), available at see also Bill History,
Hawaii
H.B. 2082, 26th Leg., Reg. Sess. (Haw. 2012) (introduced Jan. 19, 2012), available at see also Bill History,
S.B. 674, 26th Leg., Reg. Sess. (Haw. 2011) (introduced Jan. 21, 2011; carried over Dec. 1, 2011); available at see also Bill History,
billnumber=674.
Indiana
S.B. 501, 117th Gen. Assemb., 1st Reg. Sess. (Ind. 2011) (introduced Jan. 13, 2011), available at
Iowa
S.F. 158, 84th Gen. Assemb., 2011 Sess. (Iowa 2011) (introduced Feb. 7, 2011); available at see also Bill History,
&Service=DspHistory&var=SF&key=0180B&GA=84.
Kentucky
H.B. 110, 2011 Leg., Reg. Sess. (Ky. 2011) (introduced Jan. 4, 2011), available at
Maryland
H.B. 552, 428th Gen. Assemb., Reg. Sess. (Md. 2011) (introduced Feb. 8, 2011) (same as S.B. 209), available at see Bill History;
Massachusetts
H.B. 1868, 187th Gen. Ct. (Mass. 2011) (introduced Jan. 21, 2011), available at
see also Bill History,
Missouri
H.B. 1561, 96th Gen. Assemb., 2d Reg. Sess. (Mo. 2012) (introduced Jan. 30, 2012), available at see also Bill History,
2012&code=R.
Montana
H.B. 415, 62nd Leg., 2011 Sess. (Mont. 2011) (introduced Feb. 4, 2011; died in committee Apr. 28, 2011), available at
0415.pdf; see also Bill History,
.ActionQuery?P_BLTP_BILL_TYP_CD=HB&P_BILL_NO=415&P_BILL_DFT_NO=&P_CHPT_NO=&Z_ACTION=Find&P_SBJ_DESCR=&P_SBJT_SBJ_CD=&P_LST_NM1=&P_ENTY_ID_SEQ=.
New Hampshire
S.B. 352, 2012 Reg. Sess. (N.H. 2012) (introduced Jan. 4, 2012), available at see also Bill History,
New York
S.B. 3011, 234th Leg. Sess. (N.Y. 2011) (introduced Feb. 7, 2011) (same as A.B. 6116), available at see also Bill History,
Oklahoma
H.B. 1088, 53rd Leg., 1st Reg. Sess. (Okla. 2011) (introduced Jan. 18, 2011), available at
Oregon
H.B. 2745, 76th Leg. Assemb. (Or. 2011) (introduced Jan. 11, 2011), available at
Virginia
S.B. 351, 2012 Gen. Assemb., Reg. Sess. (Va. 2012) (introduced Jan. 11, 2012), available at see also Bill History,
OTHER FOR-BENEFIT ENTITY LEGISLATION
Virginia—Benefit Limited Liability Company
H.B. 354, 2012 Gen. Assemb., Reg. Sess. (introduced Jan. 11, 2012; tabled Feb. 2, 2012), available at see also Bill History,
ARTICLES AND VIDEO
Hybrid Orgs: The Basics (and origins)
VIDEO
Skoll Foundation, Social Entrepreneurs: Pioneering Social Change (Feb. 18, 2009),
Marion Fremont-Smith, Aviva Argote, & Luther M Ragin, Jr. (panelists), Hybrid Organizations: The New Face of Social Enterprise?, HauserCenter at Harvard (April 7, 2011), available at
Shirley Tilghman, Introduction to Social Entrepreneurship, TEDxPrincetonU (2010),
ARTICLES
California Legislative Summary: AB 361, as amended, Huffman. Benefit Corporations, available at
California Legislative Summary: SB 201, as amended, DeSaulnier.Flexible purpose corporations: corporate mergers,
Bradford E. Block, L3C Doing Well and Doing Good: Low-Profit Limited Liability Companies, 99 Ill. B.J. 310 (Jun. 2011).
W. Derrick Britt et al., Frequently Asked Questions: Proposed Amendments to the California Corporations Code for a New Corporate Form: The Flexible Purpose Corporation and Senate Bill 201 (Feb. 23, 2011),
Final+FAQ+on+Flexible+Purpose+Corporation+%2800312058%29?exclusive=filemgr.download&file_id=59229&showthumb=0.
Caryn Capriccioso, Rick Zwetsch, & Erin Shaver, Who is the L3C Entrepreneur? (May 2010), available at
L3CEntrepreneur.pdf.
David Colander, Solving Society’s Problems from the Bottom Up: For-Benefit Enterprises, MiddleburyCollege.
Rosemary Fei, A Guide to Social Enterprise Vehicles, Taxation of Exempts, Jan.–Feb. 2011, at 37, available at
Enterprise+Vehicles+%2800304109%29?exclusive=filemgr.download&file_id=59214&showthumb=0.
Timothy J. Galpin & Greg R. Bell, Social Entrepreneurship and the L3C Structure: Bridging the Gap Between Non-Profit and For-Profit Ventures, Journal of Business and Entrepreneurship, Oct. 1, 2010, at 29.
R. Todd Johnson, Everything You Ever Wanted to Know About the Flexible Purpose Corporation (And Then Some), Business For Good (Mar. 7, 2011, 10:57 AM),
Robert A. Katz & Antony Page, Symposium: Corporate Creativity: The Vermont L3C & Other Developments in Social Entrepreneurship: The Role of Social Enterprise, 35 Vt. L. Rev. 59 (2010), available at
%20&%20Katz%20L&E%20Book%201,%20Vol.%2035.pdf.
Marjorie Kelly and Allen White, Symposium: The Bhopal Disaster Approaches 25: Looking Back to Look Forward: Corporate Design: The Missing Organizational and Public Policy Issue of Our Time, 42 New Eng. L. Rev. 761 (2008).
Robert Lang & Elizabeth Carrott Minnigh, Symposium: Corporate Creativity: The Vermont L3C & Other Developments in Social Entrepreneurship: The L3C, History, Basic Construct, and Legal Framework, 35 Vt. L. Rev. 15 (2010), available at
Stephen Lloyd, Symposium: Corporate Creativity: The Vermont L3C & Other Developments in Social Entrepreneurship: Creating the CIC, 35 Vt. L. Rev. 31 (2010), available at
201,%20Vol.%2035.pdf.
Susan A. Maslow & Timothy White, Enlightened Capitalism and L3Cs, New Jersey Lawyer, April 2011, at 63, available at
downloads/Maslow_enlightened_capitalism_and_l3cs.pdf.
NAAG/NASCO, The Benefit Corporation: Philanthrocapitalism’s Plan B?, 2010 NAAG/NASCO Conference, available at powerpoint+-+nasco+2010?exclusive=filemgr.download&file_id=59213&showthumb
=0.
Dana Brakman Reiser, Charity Law’s Essentials, 6 Notre Dame L. Rev. 1 (Feb. 2011).
Dana Brakman Reiser, Symposium: Corporate Creativity: The Vermont L3C & Other Developments in Social Entrepreneurship: Blended Enterprise and The Dual Mission Dilemma, 35 Vt. L. Rev. 105 (2010), available at
articles/v35/1/17%20Brackman%20Reiser%20Book%201,%20Vol.%2035.pdf.
S. Comm. on Commerce, Issue Brief 2011-210 (Fla. 2010), available at
Stephen Schwarz, The Architecture of Charities’ Commercial Activities: Structural Reactions: Basic Structures (2008), available at
Schwarz-ArchitectureCharitiesCommercialActivities?exclusive=filemgr.download&
file_id=59239&showthumb=0.
Celia R. Taylor, Carpe Crisis: Capitalizing on the Breakdown of Capitalism to Consider the Creation of Social Businesses, 54 N.Y.L. Sch. L. Rev. 743 (2009–2010).
Cody Vitello, Introducing the Low-Profit Limited Liability Company (L3C): The New Kid on the Block, 23 Loy. Consumer L. Rev. 565 (2011),
Vitello-L3C_NewKid+onBlock?exclusive=filemgr.download&file_id=59234&
showthumb=0.
Arthur Wood, Symposium: Corporate Creativity: The Vermont L3C & Other Developments in Social Entrepreneurship: New Legal Structures to Address The Social Capital Famine, 35 Vt. L. Rev. 45 (2010), available at
articles/v35/1/14%20Wood%20Book%201,%20Vol.%2035.pdf.
The Social Entrepreneur’s Perspective
VIDEO
Jed Emerson, CIBC Presents Entrepreneurship 101: “Lived It Live” (the evolution of social capital markets in the U.S.),
Jed Smith, Kristen Groos Richmond, Peter Frykman & Russ Hall, Panel on Social Entrepreneurship, Stanford Graduate School of Business (2010),
ARTICLES
Jed Emerson, Tim Freundlich, & Jim Fruchterman, Nothing Ventured, Nothing Gained: Addressing Critical Gaps in Risk-Taking Capital for Social Enterprise, Skoll Center for Social Entrepreneurship, SAID Business School, Oxford University (April 3, 2007), available at
Susan H. Mac Cormac, The Emergence of New Corporate Forms, 2007 Summit on the Future of the Corporation, available at
63-6c33-4ab5-9ac8-dee43093d69f/Presentation/PublicationAttachment/9f89f9b7-fc19-47bb-be86-b17b8b94f334/NewCorporateFormsMacCormacNov2007.pdf.
Dana Brakman Reiser, Governing and Financing Blended Enterprise, 85 Chi.-Kent L. Rev. 619 (2010).
Heerad Sabeti, The For-Benefit Enterprise, Harvard Business Review (Nov. 2011), available at
&i=14679&cs=52062de28ba52dda0508ad07e88c793d.
Heerad Sabeti, The Emerging Fourth Sector: a New Sector of Organizations at the Intersection of the Public, Private and Social Sectors, The Aspen Institute (2009), available at
?exclusive=filemgr.download&file_id=59219&showthumb=0.
Linda O. Smiddy, Symposium: Corporate Creativity: The Vermont L3C & Other Developments in Social Entrepreneurship: Introduction, 35 Vt. L. Rev. 3 (2010), available at
20Smiddy%20Book%201,%20Vol.%2035.pdf.
Michael Van Patten, Mission Markets: One Market(place), Many Missions, GreenMoney Journal (Summer 2011),
=55&articleid=807.
Arthur Wood, New Legal Structures to Address the Social Capital Famine, 35 Vt. L. Rev. 35 (2010), available at
20Book%201,%20Vol.%2035.pdf.
Legal Perspectives on the Forms
Christopher C. Archer, Comment, Private Benefit for the Public Good: Promoting Foundation Investments for the “Fourth Sector” to Provide More Efficient and Effective Social Missions, 84 Temp. L. Rev. 159 (Fall 2011).
Carter G. Bishop, The Low-Profit LLC (L3C): Program Related Investment by Proxy or Perversion?, 63 Ark. L. Rev. 243 (2010).
Victoria B. Bjorklund & Elizabeth J. Dodson, The Price of Freedom: Benefits and Burdens of Foregoing Exemption (Oct. 24, 2008), available at
.download&file_id=59216&showthumb=0.
Evelyn Brody & John E. Tyler III, How Public is Private Philanthropy: Separating Reality from Myth, Philanthropy Roundtable (June 2009), available at
Michael D. Gottesman, From Cobblestones to Pavement: The Legal Road Forward for the Creation of Hybrid Social Organizations, 26 Yale L. & Pol'y Rev. 345 (Fall 2007), available at
Hybrid+Orgs?exclusive=filemgr.download&file_id=59228&showthumb=0.
Steven J. Haymore, Note, Public(ly Oriented) Companies: B Corporations and the Delaware Stakeholder Provision Dilemma, 64 Vand. L. Rev. 1311 (2011).
James R. Hines, Jr. et al., The Attack on Non-Profit Status: A Charitable Assessment, 108 Mich. L. Rev. 1179 (2010).
Garry W. Jenkins, Who's Afraid of Philanthrocapitalism?, 61 Case W. Res. L. Rev. 753 (2010–2011).
Mark Krogstad, Note, Filling the Gap: Addressing the Potential Impact of North Dakota Adopting Legislation Creating a New Entity – The Low Profit Limited Liability Company, 86 N. Dak. L. Rev. 535 (2010), available at
Krogstad+-+L3C+North+Dakota?exclusive=filemgr.download&file_id=59225&show
thumb=0.
Christopher Lacovara, Note, Strange Creatures: A Hybrid Approach to Fiduciary Duty in Benefit Corporations, 2011 Colum. Bus. L. Rev. 815 (2011).
J. Haskell Murray & Edward I. Hwang, Purpose with Profit: Governance, Enforcement, Capital-Raising, and Capital-Locking in Low-Profit Limited Liability Companies, 66 U. Miami L. Rev. 1 (Fall 2011).
Antony Page & Robert A. Katz, Symposium: Corporate Creativity: The Vermont L3C & Other Developments in Social Entrepreneurship: Freezing Out Ben & Jerry: Corporate Law and the Sale of a Social Enterprise Icon, 35 Vt. L. Rev. 211 (2010), available at
Rakhi I. Patel, Facilitating Stakeholder-Interest Maximization: Accommodating Beneficial Corporations in the Model Business Corporation Act, 23 St. Thomas L. Rev. 135 (Fall 2010).
David Spenard, L3C: Panacea or Problem?: An Introduction to the Low-Profit Limited Liability Company (Feb. 18, 2009), available at
Spenard+-+L3C+Powerpoint+2?exclusive=filemgr.download&file_id=59236&show
thumb=0.
David Spenard, The Low-Profit LLC (L3C): Are There Reasons for Concern?, 2009 NASCO Annual Conference (Oct. 20, 2009), available at
download&file_id=59235&showthumb=0.
John E Tyler III & Marcus Owens, The L3C: A Potentially Useful Tool for Promoting Charitable Purposes, The Federal Reserve Bank of Minneapolis, Community Dividend (Nov. 2009), available at
display.cfm?id=4491.
Robert Wexler, Interview With Myself – New “Corporate” Forms (May 31, 2011), available at exclusive=filemgr.download&file_id=59220&showthumb=0.
Robert Wexler, Effective Social Enterprise — A Menu of Legal Structures, 63 Exempt Orgs. Tax Rev. 565 (Jun. 2009), available at
grantmaking/63eo0565.pdf.
Robert Wexler, Social Enterprise – a Legal Context, 54 Exempt Orgs. Tax Rev. 233 (Dec. 2006), available at
_Article__00076037_.pdf?1229493792.
Concerns of Regulators, Sector, Attorney
Letter from Chris Cash, Pres., Nat’l Ass’n of State Charity Officials, to Sen. Max Baucus, Chairman, and Sen. Charles Grassley, Ranking Member, Sen. Fin. Comm. (Mar. 19, 2009), available at
Senate+Finance+Committee+reL3Cs?exclusive=filemgr.download&file_id=59212&showthumb=0 (inquiring whether the U.S. Senate Finance Committee planned to pursue changes in federal law that would streamline the process for approving program-related investments in low-profit limited liability companies).
Letter from Sen. Max Baucus, Chairman, and Sen. Charles Grassley, Ranking Member, Sen. Fin. Comm. to Chris Cash, Pres., Nat’l Ass’n of State Charity Officials (March 20, 2009), available at
Committee+Letter+to+NASCO+reL3Cs?exclusive=filemgr.download&file_id=59211&showthumb=0 (stating that the U.S. Senate Finance Committee did not think changes to the approval process for program-related investments in low-profit limited liability companies was ripe for federal legislation).
Letter from Marcus S. Owens, Robert A. Wexler, et al. to Willard L. Boyd III, Chair, ABA Bus. Section Nonprofit Orgs. Comm., Scott E. Ludwig, Chair, ABA Bus. Section LLCs, P’ships and Unincorporated Entities Comm., and Saba Ashraf, Chair, ABA Bus. Section Tax Comm. (July 13, 2011), available at
development.org/TDE_CMS/database/userfiles/file/Letter%20regarding%20L3C%20(00339893-2).pdf (responding to letter circulated by committees of the ABA Business Section in opposition to the low-profit limited liability company entity form).
NYU School of Law, Establishing New Legal Forms for Fourth Sector Organizations, July 17, 2008,
Sector.pdf.
William H. Clark, Jr. and Larry Vranka, The Need for the Benefit Corporation: Why it is the Legal Form that Best Addresses the Needs of Social Entrepreneurs, Investors, and, Ultimately, the Public (Nov. 16, 2011), available at
The_Need_and_Rational_for_Benefit_Corporations__11-16_version.pdf.
Joseph J. Cordes & C. Eugene Steurle, The Undivided Self: Are the Business Body and the Nonprofit Soul Separable? (Oct. 2008), available at
null/Cordes-BusinessBody-NonprofitSoul?exclusive=filemgr.download&file_id=59230&
showthumb=0.
Christine Durand & Kristen Cici, Four Reasons Why NOT to Use Social Media . . . and Why to Use It Anyway, Nonprofit Quarterly, Dec. 20, 2011, available at
features&Itemid=336.
Jim Fruchterman, For Love or Lucre, Stanford Social Innovation Review (Spring 2011), available at
Douglas Mancino, The Architecture of Charities’ Commercial Activities: Managing Complex Structures (2008),
Complex+Structures?exclusive=filemgr.download&file_id=59224&showthumb=0.
Luther M. Ragin Jr., Symposium: Corporate Creativity: The Vermont L3C & Other Developments in Social Entrepreneurship: Program-Related Investments in Practice, 35 Vt. L. Rev. 53 (2010), available at
20Ragin%20Book%201,%20Vol.%2035.pdf.
Dana Brakman Reiser, Benefit Corporations—A Sustainable Form of Organization?, 46 WakeForest L. Rev. 591 (Fall 2011).
Richard Schmalbeck, Symposium: Corporate Creativity: The Vermont L3C & Other Developments in Social Entrepreneurship: Financing the American Newspaper in the Twenty-First Century, 35 Vt. L. Rev. 251 (2010), available at
Elizabeth Schmidt, Symposium: Corporate Creativity: The Vermont L3C & Other Developments in Social Entrepreneurship: Vermont's Social Hybrid Pioneers: Early Observations and Questions to Ponder, 35 Vt. L. Rev. 163 (2010), available at
John E Tyler III, Negating the Legal Problem of Having 'Two Masters': A Framework for L3C Fiduciary Duties and Accountability, 35 Vt. L. Rev. 117 (Fall 2010),
Critiques
J. William Callison & Allan W. Vestal, Symposium: Corporate Creativity: The Vermont L3C & Other Developments in Social Entrepreneurship: The L3C Illusion: Why Low-Profit Limited Liability Companies will not Stimulate Socially Optimal Private Foundation Investment in Entrepreneurial Ventures, 35 Vt. L. Rev. 273 (2010), available at
Vol.%2035.pdf.
David S. Chernoff, L3Cs: Less than Meets the Eye, Taxation of Exempts (May–Jun. 2010).
Daniel S. Kleiberger, The Fatal Design Defects of L3Cs, Nonprofit Quarterly, Jun. 20, 2010, available at
view=article&id=6736:the-fatal-design-defects-of-l3cs&catid=150:from-the-archives&
Itemid=351.
Daniel S. Kleiberger, A Myth Deconstructed: The “Emperor’s New Clothes” on the Low Profit Limited Liability Company (Mar. 5, 2010), available at
downloads/2010Conference/BOS/6b_Kleinberger_Myth_Deconstructed.pdf.
Daniel S. Kleiberger, The Snare and Delusion of the L3C (Feb. 16, 2010), available at
International
Terrence S. Carter & Theresa L.M. Man, Canadian Registered Charities: Business Activities and Social Enterprise: Thinking Outside the Box, Carters Professional Corporation (Oct. 24, 2008), available at
2BMan-CanadianRegisteredCharities?exclusive=filemgr.download&file_id=59218&
showthumb=0.
Matthew F. Doeringer, Note, Fostering Social Enterprise: A Historical and International Analysis, 20 Duke J. Comp. & Int’l L. 291 (Winter 2010).
Sean Markey & Stacey Corriveau et al., Social Enterprise Legal Structure: Options and Prospects for a ‘Made in Canada’ Solution, Institute for Nonprofit Studies, Mount Royal University (June 2011), available at
documents/pdf/selsreport.pdf.
Myles McGregor-Lowndes, Structures at the Seam: the Architecture of Charities’ Commercial Activities – An Australian Perspective, NationalCenter on Philanthropy and the Law 20th Annual Conference (Oct. 24, 2008), available at