Mutual-benefit nonprofit corporation

A mutual-benefit corporation can be non-profit or not-for-profit in the United States, but it cannot obtain

Mutual benefit corporations are formed for common gain purposes such as providing insurance for members (many insurance companies still have "mutual" in their names, though many have since adopted other corporate forms), establishing a community financial institution, managing common property, or promoting the social or economic welfare of member individuals or organizations (for example through trade groups, professional organizations or business districts). Some mutual water companies are organized as mutual benefit corporations; an