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The Model Uniform Code For Corporate Responsibility

To be enacted in the Minnesota State Corporate Charter Law

Preamble.

Whereas directors of corporations formed under this [chapter] have heretofore been required by law to manage their companies in the best interests of such companies and their shareholders and

Whereas this requirement has been found to restrict directors from managing companies in a manner that fully respects the public interest and

Whereas the legislature believes that large corporations formed under the laws of [this state] should have due respect for and safeguard the environment, human rights, the public health and safety, the welfare of communities in which such corporations operate and the dignity of employees,

Now therefore, in order to expand the duties of corporate directors to require that the pursuit profit by corporations formed under this [chapter] no longer occurs at the expense of the environment, human rights, the public health or safety, the welfare of communities or the dignity of employees, be it enacted that the following [article] shall be added to the [State] [Business Corporation Act]:

Section 1. Duty to Safeguard the Public Interest. It shall be the responsibility of the directors to manage the corporation in a manner that does not cause damage to the environment, violate human rights, adversely affect the public health or safety, damage the welfare of the communities in which the corporation operates, or violate the dignity of the corporation's employees.