A Benefit Corporation is a for profit Corporation whose general purpose is to have a positive impact on society or the environment. In order to qualify as a Benefit Corporation in the State of Arkansas, foreign entities must apply for a Certificate of Authority under § 4-27-1501. The form must be downloaded as a PDF, printed, filled then attached with the filing fee of $300 before being filed with the Secretary of State.
Foreign Benefit Corporations wishing to do business in the State of Arkansas must also supply a Certificate of Existence authorized by the Secretary of State or similar authority of the State of original incorporation. This statement must clearly indicate that the entity operates as a Benefit Corporation in said state.
How to Apply (Certificate of Authority)
Step 1- Use the Business Entity Search function on the Secretary of State website to ensure that the name of your Corporation is not already in use within Arkansas, in accordance with § 4-27-401. If the name has already been registered, a foreign corporation can register for a fictitious name to use in it’s place.
Step 2- Download the PDF of the Certificate of Authority and have the authorized officer provide the following:
- 1a)- Corporation Name
- 1b) Fictitious Name ( If applicable)
- 2-Is this a benefit corporation (y/n)
- 3.1-Corporation created for general public benefit (y/n)
- 3.2-Corporation created for specific public benefit (y/n) and description of said benefit
- 4-State, Country or Region under whose law incorporation took place, the date of incorporation and the duration
- 5-The nature of the Corporation’s business
- 6- The address of the main office/place of business in Arkansas
- 7-Name and Address of the Registered Agent
- 8-The address of the main office/place of business in the State, Country or Region under whose law incorporation took place
- 9-The number and par value of stock which is owned or to be owned within the State of Arkansas
- 10-Name and Address of Initial Benefit Director
- 11-Name and Address of Initial Benefit Officer
- 12-Name and Address of the Tax Contact
Step 3- Attach the filing fee of $300 to the form and send the the Secretary of States office using the below address.
Arkansas Secretary of State, State Capitol, 500 Woodlane Street, Suite 256, Little Rock, AR 72201