Florida Business Corporation Act

Overview

As used in this part, unless the context otherwise requires, the term: (1) “Benefit director” means: (a) The director designated as the benefit director of a social purpose corporation under s. 607.508; or (b) A person with one or more of the powers, duties, or rights of a benefit director to the extent provided in the articles of incorporation or bylaws under s. 607.508. (2) “Benefit enforcement proceeding” means a claim or action for: (a) The failure of a social purpose corporation to pursue or create a public benefit or a specific public benefit established in its articles of incorporation; or (b) A violation of any obligation, duty, or standard of conduct under this part. (3) “Benefit officer” means the individual designated as the benefit officer of a social purpose corporation under s. 607.510. (4) “Independent” means not having a material relationship with the social purpose corporation or a subsidiary of the social purpose corporation. A person does not have a material relationship solely by virtue of serving as the benefit director or benefit officer of the social purpose corporation or a subsidiary of the social purpose corporation. In determining whether a direct

Sections covered

• Fla. Stat. § 607.0101Short title; applicability
• Fla. Stat. § 607.0102Reservation of power to amend or repeal
• Fla. Stat. § 607.0120Filing requirements
• Fla. Stat. § 607.0121Forms
• Fla. Stat. § 607.0122Fees for filing documents and issuing certificates
• Fla. Stat. § 607.0123Effective time and date of document
• Fla. Stat. § 607.0124Correcting filed document; withdrawal of filed record before effectiveness
• Fla. Stat. § 607.0125Filing duties of the department
• Fla. Stat. § 607.0126Appeal from department’s refusal to file document
• Fla. Stat. § 607.0127Certificates to be received in evidence; evidentiary effect of certified copy of filed document
• Fla. Stat. § 607.0128Certificate of status
• Fla. Stat. § 607.0130Powers of department
• Fla. Stat. § 607.01401Definitions5 cites
• Fla. Stat. § 607.0141Notice
• Fla. Stat. § 607.0143Qualified director
• Fla. Stat. § 607.0145Definitions
• Fla. Stat. § 607.0146Defective corporate actions
• Fla. Stat. § 607.0147Ratification of defective corporate actions
• Fla. Stat. § 607.0148Action on ratification
• Fla. Stat. § 607.0149Notice requirements
• Fla. Stat. § 607.0150Effects of ratification
• Fla. Stat. § 607.0151Filings
• Fla. Stat. § 607.0152Judicial proceedings regarding validity of corporate actions
• Fla. Stat. § 607.0201Incorporators
• Fla. Stat. § 607.0202Articles of incorporation; content
• Fla. Stat. § 607.0203Incorporation
• Fla. Stat. § 607.0204Liability for preincorporation transactions
• Fla. Stat. § 607.0205Organizational meeting of directors
• Fla. Stat. § 607.0206Bylaws
• Fla. Stat. § 607.0207Emergency bylaws
• Fla. Stat. § 607.0208Forum selection
• Fla. Stat. § 607.0301Purposes and application
• Fla. Stat. § 607.0302General powers
• Fla. Stat. § 607.0303Emergency powers
• Fla. Stat. § 607.0304Lack of power to act
• Fla. Stat. § 607.0401Corporate name
• Fla. Stat. § 607.04021Reserved name
• Fla. Stat. § 607.0403Registered name; application; renewal; revocation
• Fla. Stat. § 607.0501Registered office and registered agent1 cite
• Fla. Stat. § 607.0502Change of registered office or registered agent
• Fla. Stat. § 607.0503Resignation of registered agent
• Fla. Stat. § 607.05031Change of name or address by registered agent
• Fla. Stat. § 607.05032Delivery of notice or other communication
• Fla. Stat. § 607.0504Serving process, giving notice, or making a demand on a corporation
• Fla. Stat. § 607.0505Registered agent; duties
• Fla. Stat. § 607.0601Authorized shares
• Fla. Stat. § 607.0602Terms of class or series determined by board of directors
• Fla. Stat. § 607.0603Issued and outstanding shares
• Fla. Stat. § 607.0604Fractional shares
• Fla. Stat. § 607.0620Subscriptions for shares
• Fla. Stat. § 607.0621Issuance of shares
• Fla. Stat. § 607.0622Liability for shares issued before payment
• Fla. Stat. § 607.0623Share dividends
• Fla. Stat. § 607.0624Share rights, options, warrants, and awards
• Fla. Stat. § 607.0625Form and content of certificates
• Fla. Stat. § 607.0626Shares without certificates
• Fla. Stat. § 607.0627Restriction on transfer of shares and other securities
• Fla. Stat. § 607.0628Expenses of issue
• Fla. Stat. § 607.0630Shareholders’ preemptive rights
• Fla. Stat. § 607.0631Corporation’s acquisition of its own shares
• Fla. Stat. § 607.06401Distributions to shareholders
• Fla. Stat. § 607.0701Annual meeting
• Fla. Stat. § 607.0702Special meeting
• Fla. Stat. § 607.0703Court-ordered meeting
• Fla. Stat. § 607.0704Action by shareholders without a meeting
• Fla. Stat. § 607.0705Notice of meeting
• Fla. Stat. § 607.0706Waiver of notice
• Fla. Stat. § 607.0707Record date
• Fla. Stat. § 607.0709Remote participation in annual and special meetings of shareholders
• Fla. Stat. § 607.0720Shareholders’ list for meeting
• Fla. Stat. § 607.0721Voting entitlement of shares
• Fla. Stat. § 607.0722Proxies
• Fla. Stat. § 607.0723Shares held by intermediaries and nominees
• Fla. Stat. § 607.0724Acceptance of votes and other instruments
• Fla. Stat. § 607.0725Quorum and voting requirements for voting groups
• Fla. Stat. § 607.0726Action by single and multiple voting groups
• Fla. Stat. § 607.0728Voting for directors; cumulative voting
• Fla. Stat. § 607.0729Voting procedures; inspectors of election
• Fla. Stat. § 607.0730Voting trusts
• Fla. Stat. § 607.0731Voting agreements
• Fla. Stat. § 607.0732Shareholder agreements
• Fla. Stat. § 607.0741Standing
• Fla. Stat. § 607.0742Complaint; demand and excuse
• Fla. Stat. § 607.0743Stay of proceedings
• Fla. Stat. § 607.0744Dismissal
• Fla. Stat. § 607.0745Discontinuance or settlement; notice
• Fla. Stat. § 607.0746Proceeds and expenses
• Fla. Stat. § 607.0747Applicability to foreign corporations
• Fla. Stat. § 607.0748Shareholder action to appoint custodians or receivers
• Fla. Stat. § 607.0749Provisional director
• Fla. Stat. § 607.0750Direct action by shareholder
• Fla. Stat. § 607.0801Requirement for and duties of board of directors
• Fla. Stat. § 607.0802Qualifications of directors
• Fla. Stat. § 607.0803Number of directors
• Fla. Stat. § 607.0804Election of directors by certain voting groups; special voting rights of certain directors
• Fla. Stat. § 607.0805Terms of directors generally
• Fla. Stat. § 607.0806Staggered terms for directors
• Fla. Stat. § 607.0807Resignation of directors
• Fla. Stat. § 607.0808Removal of directors by shareholders
• Fla. Stat. § 607.08081Removal of directors by judicial proceedings
• Fla. Stat. § 607.0809Vacancy on board
• Fla. Stat. § 607.08101Compensation of directors
• Fla. Stat. § 607.0820Meetings
• Fla. Stat. § 607.0821Action by directors without a meeting
• Fla. Stat. § 607.0822Notice of meetings
• Fla. Stat. § 607.0823Waiver of notice
• Fla. Stat. § 607.0824Quorum and voting
• Fla. Stat. § 607.0825Committees
• Fla. Stat. § 607.0826Submission of matters for a shareholder vote
• Fla. Stat. § 607.0830General standards for directors
• Fla. Stat. § 607.0831Liability of directors
• Fla. Stat. § 607.0832Director conflicts of interest
• Fla. Stat. § 607.0833Loans to officers, directors, and employees; guaranty of obligations
• Fla. Stat. § 607.0834Liability for unlawful distributions
• Fla. Stat. § 607.08401Required officers
• Fla. Stat. § 607.0841Duties of officers
• Fla. Stat. § 607.08411General standards for officers
• Fla. Stat. § 607.0842Resignation and removal of officers
• Fla. Stat. § 607.0843Contract rights of officers
• Fla. Stat. § 607.0850Definitions
• Fla. Stat. § 607.0851Permissible indemnification
• Fla. Stat. § 607.0852Mandatory indemnification
• Fla. Stat. § 607.0853Advance for expenses
• Fla. Stat. § 607.0854Court-ordered indemnification and advance for expenses
• Fla. Stat. § 607.0855Determination and authorization of indemnification
• Fla. Stat. § 607.0857Insurance
• Fla. Stat. § 607.0858Variation by corporate action; application of ss. 607.0850-607.0859
• Fla. Stat. § 607.0859Overriding restrictions on indemnification
• Fla. Stat. § 607.0901Affiliated transactions
• Fla. Stat. § 607.0902Control-share acquisitions2 cites
• Fla. Stat. § 607.1001Authority to amend the articles of incorporation
• Fla. Stat. § 607.1002Amendment by board of directors
• Fla. Stat. § 607.10025Shares; combination or division
• Fla. Stat. § 607.1003Amendment by board of directors and shareholders
• Fla. Stat. § 607.1004Voting on amendments by voting groups
• Fla. Stat. § 607.1005Amendment before issuance of shares
• Fla. Stat. § 607.1006Articles of amendment
• Fla. Stat. § 607.1007Restated articles of incorporation
• Fla. Stat. § 607.1008Amendment pursuant to reorganization
• Fla. Stat. § 607.1009Effect of amendment
• Fla. Stat. § 607.1020Amendment of bylaws by board of directors or shareholders
• Fla. Stat. § 607.1021Bylaw increasing quorum or voting requirements for shareholders
• Fla. Stat. § 607.1022Bylaw increasing quorum or voting requirements for directors
• Fla. Stat. § 607.1023Bylaw provisions relating to the election of directors
• Fla. Stat. § 607.1101Merger
• Fla. Stat. § 607.1102Share exchange
• Fla. Stat. § 607.1103Action on a plan of merger or share exchange
• Fla. Stat. § 607.11035Shareholder approval of a merger or share exchange in connection with a tender offer
• Fla. Stat. § 607.1104Merger between parent and subsidiary or between subsidiaries
• Fla. Stat. § 607.11045Holding company formation by merger by certain corporations
• Fla. Stat. § 607.1105Articles of merger or share exchange
• Fla. Stat. § 607.1106Effect of merger or share exchange2 cites
• Fla. Stat. § 607.1107Abandonment of a merger or share exchange
• Fla. Stat. § 607.11920Domestication
• Fla. Stat. § 607.11921Action on a plan of domestication
• Fla. Stat. § 607.11922Articles of domestication; effectiveness
• Fla. Stat. § 607.11923Amendment of a plan of domestication; abandonment
• Fla. Stat. § 607.11924Effect of domestication
• Fla. Stat. § 607.11930Conversion
• Fla. Stat. § 607.11931Plan of conversion
• Fla. Stat. § 607.11932Action on a plan of conversion
• Fla. Stat. § 607.11933Articles of conversion; effectiveness
• Fla. Stat. § 607.11934Amendment to a plan of conversion; abandonment
• Fla. Stat. § 607.11935Effect of conversion
• Fla. Stat. § 607.1201Disposition of assets not requiring shareholder approval
• Fla. Stat. § 607.1202Shareholder approval of certain dispositions3 cites
• Fla. Stat. § 607.1301Appraisal rights; definitions2 cites
• Fla. Stat. § 607.1302Right of shareholders to appraisal3 cites
• Fla. Stat. § 607.1303Assertion of rights by nominees and beneficial owners
• Fla. Stat. § 607.1320Notice of appraisal rights1 cite
• Fla. Stat. § 607.1321Notice of intent to demand payment
• Fla. Stat. § 607.1322Appraisal notice and form
• Fla. Stat. § 607.1323Perfection of rights; right to withdraw
• Fla. Stat. § 607.1324Shareholder’s acceptance of corporation’s offer
• Fla. Stat. § 607.1326Procedure if shareholder is dissatisfied with offer
• Fla. Stat. § 607.1330Court action
• Fla. Stat. § 607.1331Court costs and counsel fees
• Fla. Stat. § 607.1332Disposition of acquired shares
• Fla. Stat. § 607.1333Limitation on corporate payment
• Fla. Stat. § 607.1340Other remedies limited
• Fla. Stat. § 607.1401Dissolution by incorporators or directors
• Fla. Stat. § 607.1402Dissolution by board of directors and shareholders; dissolution by written consent of shareholders
• Fla. Stat. § 607.1403Articles of dissolution
• Fla. Stat. § 607.1404Revocation of dissolution
• Fla. Stat. § 607.1405Effect of dissolution
• Fla. Stat. § 607.1406Known claims against dissolved corporation3 cites
• Fla. Stat. § 607.1407Other claims against dissolved corporation2 cites
• Fla. Stat. § 607.1408Claims against dissolved corporations; enforcement
• Fla. Stat. § 607.1409Court proceedings
• Fla. Stat. § 607.1410Director duties
• Fla. Stat. § 607.1420Administrative dissolution
• Fla. Stat. § 607.1422Reinstatement following administrative dissolution2 cites
• Fla. Stat. § 607.1423Judicial review of denial of reinstatement
• Fla. Stat. § 607.1430Grounds for judicial dissolution
• Fla. Stat. § 607.1431Procedure for judicial dissolution
• Fla. Stat. § 607.1432Receivership or custodianship
• Fla. Stat. § 607.1433Judgment of dissolution
• Fla. Stat. § 607.1434Alternative remedies to judicial dissolution
• Fla. Stat. § 607.1435Provisional director
• Fla. Stat. § 607.1436Election to purchase instead of dissolution
• Fla. Stat. § 607.14401Deposit with Department of Financial Services
• Fla. Stat. § 607.1501Authority of foreign corporation to transact business required; activities not constituting transacting business
• Fla. Stat. § 607.15015Governing law
• Fla. Stat. § 607.1502Effect of failure to have a certificate of authority
• Fla. Stat. § 607.1503Application for certificate of authority
• Fla. Stat. § 607.1504Amended certificate of authority
• Fla. Stat. § 607.1505Effect of a certificate of authority1 cite
• Fla. Stat. § 607.1506Corporate name of foreign corporation
• Fla. Stat. § 607.1507Registered office and registered agent of foreign corporation
• Fla. Stat. § 607.1508Change of registered office and registered agent of foreign corporation
• Fla. Stat. § 607.1509Resignation of registered agent of foreign corporation
• Fla. Stat. § 607.15091Change of name or address by registered agent
• Fla. Stat. § 607.15092Delivery of notice or other communication
• Fla. Stat. § 607.15101Serving process, giving notice, or making a demand on a foreign corporation
• Fla. Stat. § 607.1520Withdrawal and cancellation of certificate of authority for foreign corporation
• Fla. Stat. § 607.1521Withdrawal deemed on conversion to domestic filing entity
• Fla. Stat. § 607.1522Withdrawal on dissolution, merger, or conversion to certain nonfiling entities
• Fla. Stat. § 607.1523Action by Department of Legal Affairs
• Fla. Stat. § 607.1530Revocation of certificate of authority to transact business
• Fla. Stat. § 607.15315Reinstatement following revocation of certificate of authority
• Fla. Stat. § 607.1532Judicial review of denial of reinstatement
• Fla. Stat. § 607.1601Corporate records
• Fla. Stat. § 607.1602Inspection of records by shareholders
• Fla. Stat. § 607.1603Scope of inspection right
• Fla. Stat. § 607.1604Court-ordered inspection
• Fla. Stat. § 607.1605Inspection rights of directors
• Fla. Stat. § 607.1620Financial statements for shareholders
• Fla. Stat. § 607.1622Annual report for department3 cites
• Fla. Stat. § 607.1701Application to existing domestic corporation
• Fla. Stat. § 607.1702Application to qualified foreign corporations
• Fla. Stat. § 607.1703Interrogatories by department; other powers of department
• Fla. Stat. § 607.1711Application to foreign and interstate commerce
• Fla. Stat. § 607.1805Procedures for conversion to professional service corporation
• Fla. Stat. § 607.1904Estoppel
• Fla. Stat. § 607.1907Saving provision
• Fla. Stat. § 607.1908Severability clause
• Fla. Stat. § 607.193Supplemental corporate fee
• Fla. Stat. § 607.501Application and effect of part
• Fla. Stat. § 607.502Definitions
• Fla. Stat. § 607.503Incorporation
• Fla. Stat. § 607.504Election of social purpose corporation status
• Fla. Stat. § 607.505Termination of social purpose corporation status
• Fla. Stat. § 607.506Corporate purpose
• Fla. Stat. § 607.507Standard of conduct for directors
• Fla. Stat. § 607.508Benefit director
• Fla. Stat. § 607.509Standard of conduct for officers
• Fla. Stat. § 607.510Benefit officer
• Fla. Stat. § 607.511Right of action
• Fla. Stat. § 607.512Preparation of annual benefit report
• Fla. Stat. § 607.513Availability of annual benefit report
• Fla. Stat. § 607.601Application and effect of part
• Fla. Stat. § 607.602Definitions
• Fla. Stat. § 607.603Incorporation
• Fla. Stat. § 607.604Election of benefit corporation status
• Fla. Stat. § 607.605Termination of benefit corporation status
• Fla. Stat. § 607.606Corporate purpose
• Fla. Stat. § 607.607Standard of conduct for directors
• Fla. Stat. § 607.608Benefit director
• Fla. Stat. § 607.609Standard of conduct for officers
• Fla. Stat. § 607.610Benefit officer
• Fla. Stat. § 607.611Right of action
• Fla. Stat. § 607.612Preparation of annual benefit report
• Fla. Stat. § 607.613Availability of annual benefit report