Florida Statute 607.1331 | Lawyer Caselaw & Research

The 2024 Florida Statutes

Title XXXVI
BUSINESS ORGANIZATIONS

Chapter 607
FLORIDA BUSINESS CORPORATION ACT

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F.S. 607.1331

607.1331 Court costs and counsel fees.—

(1) The court in an appraisal proceeding shall determine all costs of the proceeding, including the reasonable compensation and expenses of appraisers appointed by the court. The court shall assess the costs against the corporation, except that the court may assess costs against all or some of the shareholders demanding appraisal, in amounts the court finds equitable, to the extent the court finds such shareholders acted arbitrarily, vexatiously, or not in good faith with respect to the rights provided by this chapter.

(2) The court in an appraisal proceeding may also assess the fees and expenses of counsel and experts for the respective parties, in amounts the court finds equitable:

(a) Against the corporation and in favor of any or all shareholders demanding appraisal if the court finds the corporation did not substantially comply with ss. 607.1320 and 607.1322; or

(b) Against either the corporation or a shareholder demanding appraisal, in favor of any other party, if the court finds that the party against whom the fees and expenses are assessed acted arbitrarily, vexatiously, or not in good faith with respect to the rights provided by this chapter.

(3) If the court in an appraisal proceeding finds that the services of counsel for any shareholder were of substantial benefit to other shareholders similarly situated, and that the fees for those services should not be assessed against the corporation, the court may award to such counsel reasonable fees to be paid out of the amounts awarded the shareholders who were benefited.

(4) To the extent the corporation fails to make a required payment pursuant to s. 607.1324, the shareholder may sue directly for the amount owed and, to the extent successful, shall be entitled to recover from the corporation all costs and expenses of the suit, including attorney fees.

History.—s. 30, ch. 2003-283; s. 98, ch. 2004-5; s. 171, ch. 2019-90.

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Amendments to 607.1331

Arrestable Offenses / Crimes under Fla. Stat. 607.1331

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 607.1331.

Annotations, Discussions, Cases:

Cases Citing Statute 607.1331

Total Results: 4

Woodbridge Holdings, LLC v. Prescott Group Aggressive Small Cap Master Fund, G.P.

Court: District Court of Appeal of Florida | Date Filed: 2015-08-12

Citation: 193 So. 3d 2, 2015 Fla. App. LEXIS 11964, 2015 WL 4747174

Snippet: with appellee Ravenswood’s assertion that section 607.1331 provides a basis for taxation of such costs regardless

Woodbridge Holdings, LLC v. Prescott Group Aggressive Small Cap Master Fund, G.P., Ravenswood Investments III, L.P., The Ravenswood Investment Company, L.P., William J. Maeck

Court: District Court of Appeal of Florida | Date Filed: 2015-08-12

Snippet: with appellee Ravenswood’s assertion that section 607.1331 provides a basis for taxation of such costs regardless

Foreclosure FreeSearch, Inc. v. Sullivan

Court: District Court of Appeal of Florida | Date Filed: 2009-04-29

Citation: 12 So. 3d 771, 2009 Fla. App. LEXIS 3866, 2009 WL 1139252

Snippet: rejected through the process. Indeed, section 607.1331(1) provides: "[T]he court may assess costs against

Williams v. Stanford

Court: District Court of Appeal of Florida | Date Filed: 2008-03-25

Citation: 977 So. 2d 722, 2008 WL 762483

Snippet: granted appellees' motion pursuant to section 607.1331(2)(b), Florida Statutes (2006), for attorney's