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FL S0838
Bill
Status
6/19/2020
Primary Sponsor
Commerce and Tourism
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AI Summary
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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
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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
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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
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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
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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