Florida Statute 607.607 | Lawyer Caselaw & Research

The 2024 Florida Statutes

Title XXXVI
BUSINESS ORGANIZATIONS

Chapter 607
FLORIDA BUSINESS CORPORATION ACT

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F.S. 607.607

607.607 Standard of conduct for directors.—

(1) In discharging their duties and in considering the best interests of the benefit corporation, the directors:

(a) Shall consider the effects of any action or inaction upon:

1. The shareholders of the benefit corporation;

2. The employees and workforce of the benefit corporation, its subsidiaries, and its suppliers;

3. The interests of customers and suppliers as beneficiaries of the general public benefit and any specific public benefit purposes of the benefit corporation;

4. Community and societal factors, including those of each community in which offices or facilities of the benefit corporation, its subsidiaries, or its suppliers are located;

5. The local and global environment;

6. The short-term and long-term interests of the benefit corporation, including benefits that may accrue to the benefit corporation from its long-term plans and the possibility that these interests may be best served by the continued independence of the benefit corporation; and

7. The ability of the benefit corporation to accomplish its general public benefit purpose and each of its specific public benefit purposes, if any.

(b) May consider other pertinent factors or the interests of any other group that they deem appropriate.

(c) Are not required to give priority to the interests of a particular person or group referred to in paragraph (a) or paragraph (b) over the interests of any other person or group, unless the benefit corporation has stated in its articles of incorporation its intention to give priority to certain interests.

(d) Are not required to give equal weight to the interests of a particular person or group referred to in paragraph (a) or paragraph (b) unless the benefit corporation has stated in its articles of incorporation its intention to give such equal weight.

(2) Except as provided in the articles of incorporation, a director is not personally liable for monetary damages to the corporation, or to any other person, for the failure of the benefit corporation to pursue or create general public benefit or a specific public benefit. A director is subject to the duties established in s. 607.0830.

(3) Except as provided in the articles of incorporation, a director does not have a duty to a person who is a beneficiary of the general public benefit purpose or any one or more specific public benefit purposes of the benefit corporation.

History.—s. 27, ch. 2014-209.

F.S. 607.607 on Google Scholar

F.S. 607.607 on Casetext

Amendments to 607.607

Arrestable Offenses / Crimes under Fla. Stat. 607.607

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

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 607.607.

Annotations, Discussions, Cases:

Cases Citing Statute 607.607

Total Results: 5

Alvin Davis v. State of Florida

Court: Fla. Dist. Ct. App. | Date Filed: 2019-04-25T00:53:00-07:00

Snippet: time on appeal.”); Adkison v. State, 133 So. 3d 607, 607 (Fla. 1st DCA 2014) (affirming the appellant’s

Wood v. State

Court: Fla. Dist. Ct. App. | Date Filed: 2014-10-23T00:00:00-07:00

Citation: 148 So. 3d 557, 2014 Fla. App. LEXIS 17244, 2014 WL 5370039

Snippet: before a new judge. Adkinson v. State, 133 So.3d 607, 607 (Fla. 1st DCA 2014); Dumas v. State, 134 So.3d

Trimeka Shanta Wood v. State of Florida

Court: Fla. Dist. Ct. App. | Date Filed: 2014-10-22T00:53:00-07:00

Snippet: before a new judge. Adkinson v. State, 133 So. 3d 607, 607 (Fla. 1st DCA 2014); Dumas v. State, 134 So. 3d

Medical Facilities Development, Inc. v. Little Arch Creek Properties, Inc.

Court: Fla. Dist. Ct. App. | Date Filed: 1995-03-15T00:00:00-08:00

Citation: 656 So. 2d 1300, 1995 Fla. App. LEXIS 2585, 1995 WL 106934

Snippet: .”); Machado v. Foreign Trade, Inc., 537 So.2d 607, 607 n. 1 (Fla. 3d DCA 1988) (“The plaintiffs original

Med. Fac. v. Little Arch Creek Properties

Court: Fla. Dist. Ct. App. | Date Filed: 1995-03-14T23:53:00-08:00

Citation: 656 So. 2d 1300

Snippet: quot;); Machado v. Foreign Trade, Inc., 537 So.2d 607, 607 n. 1 (Fla. 3d DCA 1988) ("The plaintiff'