Florida Statute 607.1431 | Lawyer Caselaw & Research

The 2024 Florida Statutes

Title XXXVI
BUSINESS ORGANIZATIONS

Chapter 607
FLORIDA BUSINESS CORPORATION ACT

View Entire Chapter

F.S. 607.1431

607.1431 Procedure for judicial dissolution.—

(1) Venue for a proceeding brought under s. 607.1430 lies in the circuit court in the applicable county.

(2) It is not necessary to make shareholders parties to a proceeding to dissolve a corporation unless relief is sought against them individually.

(3) A court in a proceeding brought under s. 607.1430 may issue injunctions, appoint a receiver or custodian during the proceeding with all powers and duties the court directs, take other action required to preserve the corporate assets wherever located, and carry on the business of the corporation until a full hearing can be held.

(4) Within 30 days of the commencement of a proceeding under s. 607.1430(1)(b), the corporation shall deliver to all shareholders, other than the petitioner, a notice stating that the shareholders are entitled to avoid the dissolution of the corporation by electing to purchase the petitioner’s shares under s. 607.1436 and accompanied by a copy of s. 607.1436.

(5) If the court determines that any party has commenced, continued, or participated in a proceeding under s. 607.1430 and has acted arbitrarily, frivolously, vexatiously, or not in good faith, the court may, in its discretion, award attorney fees and other reasonable expenses to the other parties to the proceeding who have been affected adversely by such actions.

History.—s. 132, ch. 89-154; s. 8, ch. 94-327; s. 190, ch. 2019-90; s. 51, ch. 2020-32.

F.S. 607.1431 on Google Scholar

F.S. 607.1431 on Casetext

Amendments to 607.1431

Arrestable Offenses / Crimes under Fla. Stat. 607.1431

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

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 607.1431.

Annotations, Discussions, Cases:

Cases Citing Statute 607.1431

Total Results: 6

Mary Virginia Graham v. Constance R. Uphold and Barmarrae Books, Inc.

Court: Fla. Dist. Ct. App. | Date Filed: 2018-04-30T00:53:00-07:00

Snippet: months later, Dr. Uphold moved under sections 607.1431(3) and 607.1432, Florida Statutes, for the court…manage its business and affairs” under sections 607.1431(3) and 607.1432. Similarly, the trial court relied…did not have the authority under either section 607.1431(3) or section 607.1432 to make the appointment

Jones v. Pfaff

Court: Fla. Dist. Ct. App. | Date Filed: 2012-01-20T00:00:00-08:00

Citation: 77 So. 3d 884, 2012 Fla. App. LEXIS 669, 2012 WL 163915

Snippet: corporation until a full hearing can be held.” § 607.1431(B). Under section 607.1438, when the trial court… preserve the assets of the corporation. See § 607.1431(3). This seems to be a scenario that the statute

Morales v. Rosenberg

Court: Fla. Dist. Ct. App. | Date Filed: 2005-10-12T00:53:00-07:00

Citation: 919 So. 2d 476

Snippet: sought in the instant case. The provision, section 607.1431(4) of the Florida Statutes, reads: If the court…have been affected adversely by such actions. § 607.1431(4), Fla. Stat. (2004)(emphasis added). See Cody

Batur v. SIGNATURE PROPS. OF NORTHWEST FLA.

Court: Fla. Dist. Ct. App. | Date Filed: 2005-05-19T00:53:00-07:00

Citation: 903 So. 2d 985

Snippet: custodian for Signature pendente lite, under section 607.1431(3), Florida Statutes (2002), and seeking an inspection

Batur v. Signature Properties of Northwest Florida, Inc.

Court: Fla. Dist. Ct. App. | Date Filed: 2005-05-19T00:00:00-07:00

Citation: 903 So. 2d 985, 2005 Fla. App. LEXIS 7436, 2005 WL 1172059

Snippet: custodian for Signature pendente lite, under section 607.1431(3), Florida Statutes (2002), and seeking an inspection

Cody v. COLONIAL IMAGING PROD. & SERVICE

Court: Fla. Dist. Ct. App. | Date Filed: 1998-10-02T00:53:00-07:00

Citation: 717 So. 2d 1120

Snippet: the terms of the order and made payment. Section 607.1431(4), Florida Statutes (1997) reads as follows: …award of attorney's fees other than section 607.1431(4), Florida Statutes, and the court did not make…attorney fees had been recoverable under section 607.1431(4), the statute does not authorize a stay of litigation