Social Purpose Corporation

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Social Purpose Corporation in Washington State

From Washington State Senator David Frockt’s blog:

“HB 2239 establishing a new type of corporate form in Washington: the social purpose corporation. Frockt prime sponsored the Senate companion (along with Senators Chase and Kilmer) and worked with his former House colleagues Jamie Pedersen and Roger Goodman to move the legislation to the governor’s desk. This measure establishes a new and innovative corporate form that will allow entrepreneurs and companies more flexibility to adopt corporate goals other than maximizing profits. “

Includes provision that the incorporation documents must state a date on which the corporation shall terminate.

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