News & Events

News & Events

2.8.2012

Push on to Pass Benefit Corporation Legislation in Oregon

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Lane Powell attorneys Shawn Lindsay and Jeff Wolfstone were quoted in a January 30 Sustainable Business Oregon article titled “Push on to Pass Benefit Corporation Legislation in Oregon.” The article is about a push during the current session for a legislative hearing in support of the legal formation of Benefit Corporations. Legislation on this issue would provide a legal framework for companies to register as a company dedicated to providing a public benefit.

B Lab has Rep. Shawn Lindsay, R-Hillsboro, lined up to add Benefit Corporation legislation to a bill amendment — provided there is widespread support for the effort.

But Lindsay expressed caution.

“There needs to be some due diligence done on this,” said Lindsay, adding that he agreed to provide a placeholder for the legislation as a “professional courtesy.”

“I’m merely one of 60 legislators who is intrigued and interested in learning more,” Lindsay said. …

“I think having (Benefit Corporation legislation) would be a good thing,” said Jeff Wolfstone, a shareholder at Lane Powell. “But having said that there are a number of ways that socially interested companies can organize themselves here under existing law.”

Read the article.