With the law change, corporate directors are now required to account for company mission in decision making.
Because an SPC is a for-profit organization, they do not qualify for tax-exempt status as a nonprofit corporation.
[5] This example from the Florida Bar Journal illustrates this difference between SPCs and benefit corporations: Suppose that a for-profit corporation plans to manufacture and sell an anti-malarial drug and, as part of its business plan, will distribute that drug at low or no cost in African countries.
However, if the corporation is a B corporation, directors and officers would be mandated to consider as well employee programs, environmental concerns, community issues, and similar societal factors, and cannot concentrate on a single benefit program to the detriment of other general benefit concerns.
[5]Shareholders, directors, and persons owning more than 5% equity in a Florida SPC may bring lawsuits against a Florida SPC for failure to pursue or create a public benefit,[6] but the corporations, their directors, and their management are shielded from monetary damages in such lawsuits for failing to create a public benefit.