Florida Statute 607.1431 | Lawyer Caselaw & Research

The 2024 Florida Statutes

Title XXXVI
BUSINESS ORGANIZATIONS

Chapter 607
FLORIDA BUSINESS CORPORATION ACT

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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.

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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: District Court of Appeal of Florida | Date Filed: 2018-04-30

Citation: 245 So. 3d 964

Snippet: months later, Dr. Uphold moved under sections 607.1431(3) and 607.1432, Florida Statutes, for the court

Jones v. Pfaff

Court: District Court of Appeal of Florida | Date Filed: 2012-01-20

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

Morales v. Rosenberg

Court: District Court of Appeal of Florida | Date Filed: 2005-10-12

Citation: 919 So. 2d 476, 2005 WL 2509895

Snippet: sought in the instant case. The provision, section 607.1431(4) of the Florida Statutes, reads: If the court

Batur v. Signature Properties of Northwest Florida, Inc.

Court: District Court of Appeal of Florida | Date Filed: 2005-05-19

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

Batur v. SIGNATURE PROPS. OF NORTHWEST FLA.

Court: District Court of Appeal of Florida | Date Filed: 2005-05-19

Citation: 903 So. 2d 985

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: District Court of Appeal of Florida | Date Filed: 1998-10-02

Citation: 717 So. 2d 1120

Snippet: the terms of the order and made payment. Section 607.1431(4), Florida Statutes (1997) reads as follows: