"'Public benefit corporation' means a domestic corporation which is required to be a public benefit corporation pursuant to section 17.05 or is formed as a public benefit corporation pursuant to chapter 2." 11B V.S.A. § 1.40(28).

A public benefit corporation is the kind of nonprofit most people think of. It is a charity. The public benefit nonprofit corporation exists to provide a particular public benefit such as a public library, an adult day center, or an arts council. Typically, it is a public benefit nonprofit corporation that will obtain 501(c)(3) tax exempt status from the IRS. In furtherance of its charitable mission, if a public benefit corporation dissolves, then all of its property must go to a another public benefit nonprofit corporation. The Vermont Attorney General has the authority to take a public benefit nonprofit corporation to court to ensure that it is being operated in the public interest.