Florida Statute 607.1333 | Lawyer Caselaw & Research

The 2024 Florida Statutes

Title XXXVI
BUSINESS ORGANIZATIONS

Chapter 607
FLORIDA BUSINESS CORPORATION ACT

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F.S. 607.1333

607.1333 Limitation on corporate payment.—

(1) No payment shall be made to a shareholder seeking appraisal rights if, at the time of payment, the corporation is unable to meet the distribution standards of s. 607.06401. In such event, the shareholder shall, at the shareholder’s option:

(a) Withdraw his, her, or its notice of intent to assert appraisal rights, which shall in such event be deemed withdrawn with the consent of the corporation; or

(b) Retain his, her, or its status as a claimant against the corporation and, if it is liquidated, be subordinated to the rights of creditors of the corporation, but have rights superior to the shareholders not asserting appraisal rights, and if the corporation is not liquidated, retain his, her, or its right to be paid for the shares, which right the corporation shall be obliged to satisfy when the restrictions of this section do not apply.

(2) The shareholder shall exercise the option under paragraph (1)(a) or paragraph (1)(b) by written notice filed with the corporation within 30 days after the corporation has given written notice that the payment for shares cannot be made because of the restrictions of this section. If the shareholder fails to exercise the option, the shareholder shall be deemed to have withdrawn his or her notice of intent to assert appraisal rights.

History.—s. 32, ch. 2003-283; s. 173, ch. 2019-90; s. 45, ch. 2020-32.

F.S. 607.1333 on Google Scholar

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Amendments to 607.1333

Arrestable Offenses / Crimes under Fla. Stat. 607.1333

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

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 607.1333.

Annotations, Discussions, Cases:

Cases Citing Statute 607.1333

Total Results: 2

Lally Orange Buick Pontiac GMC, Inc. v. Sandhu

Court: District Court of Appeal of Florida | Date Filed: 2016-12-22

Citation: 207 So. 3d 981, 2016 Fla. App. LEXIS 18782

Snippet: rights are set forth in sections 607.1301 through 607.1333 of the Florida Statutes. Section 607.1301, Florida

Erp v. Erp

Court: District Court of Appeal of Florida | Date Filed: 2008-03-28

Citation: 976 So. 2d 1234, 2008 WL 818822

Snippet: provisions apply only to sections 607.1302 to 607.1333, those sections providing certain shareholders