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FL S0838

Bill

Status

Passed

6/19/2020

Primary Sponsor

Commerce and Tourism

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Origin

Senate

2020 Regular Session

AI Summary

  • Specifies that documents accepted by the Department of State for filing are effective on the date accepted, clarifying timing provisions for articles of incorporation and other corporate filings

  • Authorizes boards of directors to reclassify unissued shares into one or more classes or series within a class, and allows domestic corporations to acquire one or more classes or series of shares in share exchanges

  • Creates s. 607.1703 authorizing the Department of State to direct interrogatories to corporations and their officers/directors to determine compliance with corporate law, with power to bring collection actions and file lis pendens against property

  • Amends nonprofit corporation law (s. 617.0825) to allow boards to appoint non-directors to board committees, provided a majority of committee members are directors, and authorizes creation of advisory committees that cannot bind the corporation

  • Revises meeting notice requirements for director removal by shareholders to state that removal must be "the purpose, or one of the purposes" of the meeting, and updates definitions related to affiliated transactions and control

Legislative Description

Business Organizations

Last Action

Chapter No. 2020-32

6/19/2020

Committee Referrals

Rules1/29/2020
Judiciary1/16/2020
Commerce And Tourism11/21/2019

Full Bill Text

No bill text available