MS HB952

Creates the "Mississippi Benefit Corporation Act" allowing Mississippi corporations to elect to become benefit corporations with a stated purpose of creating general public benefit and optional specific public benefits (environmental protection, economic opportunity, human health, etc.).

Requires benefit corporations to have independent benefit directors (except professional corporations) who prepare annual reports assessing the company's social and environmental performance against third-party standards and verify compliance with public benefit purposes.

Establishes that benefit corporation directors and officers must consider effects on shareholders, employees, customers, communities, and the environment when making decisions, with liability protection for failure to pursue public benefits unless in a benefit enforcement proceeding.

Mandates annual benefit reports be sent to shareholders within 120 days of fiscal year-end, posted on company websites, and filed with the Secretary of State for a $25.00 fee, with disclosure of director compensation and conflicts of interest.

Allows existing corporations to become benefit corporations and terminate that status through shareholder votes requiring a two-thirds minimum status vote; benefit corporation status cannot be superseded by articles of incorporation or bylaws.