Definition from Nolo’s Plain-English Law Dictionary
A public benefit corporation is usually a corporation created by the government that performs a specific function for the benefit of the public, such as a public library or an adult day center. More broadly, a public benefit corporation can mean any corporation created for a charitable purpose, though these are usually called nonprofit or not-for profit corporations if they are not created by the government. Some states (California for example) define any charitable corporation as a public benefit corporation.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:22 pm