Social Enterprise and Hybrid Corporate Forms: Emerging State Regulatory Perspectives and Responses
This webinar is designed to provide a base of information for states seeking to develop and improve their regulation of social mission / hybrid organizations. It touches on regulators’ jurisdiction over hybrid organizations; the origins, purpose and characteristics (legal or otherwise) of these entities; and issues of concern for the sector, regulators and private attorneys. In Part One, Charities Regulation and Oversight Project lead counsel Cindy Lott introduces the concept of "hybrid forms," the regulatory issues they raise for states and the webinar participants. Due to technical difficulties, in Part Two, Fourth Sector co-founder Heerad Sabeti's material on the market perspective currently includes only his powerpoint presentation on the topic. In Part Three, Adler & Colvin Principal Rob Wexler discusses for-profit hybrid forms from the perspective of a private lawyer advising clients. Part Four provides the regulator's perspective on state legislation establishing hybrid corporate forms, including the jurisdiction of secretaries of state and attorneys general over these forms. In Part Five, regulators engage in a discussion moderated by lead counsel Lott on areas of concern or uncertainty for regulators, including the overlap of social mission and charitable purpose, what qualifies as a charitable asset, hybrid organizations' disclosure and fiduciary responsibilities, and new tools for enforcement.