Florida Statute 607.612 | Lawyer Caselaw & Research

The 2024 Florida Statutes

Title XXXVI
BUSINESS ORGANIZATIONS

Chapter 607
FLORIDA BUSINESS CORPORATION ACT

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F.S. 607.612

607.612 Preparation of annual benefit report.—

(1) Unless it is prepared by a benefit director or a benefit officer, the board of directors shall prepare an annual benefit report. The annual benefit report must include all of the following:

(a) A narrative description of:

1. The ways in which the benefit corporation pursued general public benefit during the year and the extent to which the general public benefit was created.

2. Any circumstance that has hindered the pursuit or creation of general public benefit or a specific public benefit by the benefit corporation.

3. The process and rationale for selecting or changing the third-party standard used to prepare the benefit report.

(b) The name of the benefit director and the benefit officer, if those positions exist, and the respective business addresses to which correspondence may be directed.

(d) A statement of any connection between the organization that established the third-party standard, or its directors, officers, or any holder of 5 percent or more of the governance interests in the organization, and the benefit corporation or its directors, officers, or any holder of 5 percent or more of the outstanding shares of the benefit corporation, including any financial or governance relationship that might materially affect the credibility of the use of the third-party standard.

(2) The annual benefit report must be prepared in accordance with a third-party standard that is:

(a) Applied consistently with any previous application in prior annual benefit reports; or

(b) Accompanied by an explanation of the reasons for any inconsistent application or any change in the standard from the immediate prior report.

(3) If, during the year covered by an annual benefit report, a benefit director resigned from, or refused to stand for reelection to, his or her position, or was removed from his or her position, and he or she furnished written correspondence to the benefit corporation concerning the circumstances surrounding his or her departure, that correspondence must be included as an exhibit in the annual benefit report.

(4) The annual benefit report and the assessment of the performance of the benefit corporation in the annual benefit report required under subsection (2) are not required to be audited or certified by a third-party standards provider.

(5) Notwithstanding the requirements of this section, information that is required to be included in the annual benefit report but that is otherwise required by applicable regulatory state or federal law to be kept confidential may be omitted from the annual benefit report. If such information is omitted, the annual benefit report shall expressly state that information required by this section has been omitted in reliance on this subsection.

History.—s. 32, ch. 2014-209; s. 9, ch. 2018-139.

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Amendments to 607.612

Arrestable Offenses / Crimes under Fla. Stat. 607.612

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

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 607.612.

Annotations, Discussions, Cases:

Cases Citing Statute 607.612

Total Results: 7

Betts v. State

Court: Fla. Dist. Ct. App. | Date Filed: 2015-01-30T00:00:00-08:00

Citation: 157 So. 3d 376, 2015 Fla. App. LEXIS 1196, 2015 WL 403967

Snippet: see also Brown v. Wainwright, 665 F.2d 607, 612 (5th Cir. 1982) (observing that after a clear

Zaborowski v. State

Court: Fla. Dist. Ct. App. | Date Filed: 2013-11-06T00:00:00-08:00

Citation: 126 So. 3d 405, 2013 WL 5927282, 2013 Fla. App. LEXIS 17643

Snippet: at 100 (quoting Stogner v. California, 539 U.S. 607, 612, 123 S.Ct. 2446, 156 L.Ed.2d 544 (2003)). This

Cliff Berry, Inc. v. State

Court: Fla. Dist. Ct. App. | Date Filed: 2012-01-04T00:00:00-08:00

Citation: 116 So. 3d 394, 2012 WL 10846, 2012 Fla. App. LEXIS 37

Snippet: (quoting Bollenbach v. United States, 326 U.S. 607, 612, 66 S.Ct. 402, 90 L.Ed. 350 (1946)).18 Thus, we

Associated Elec. & Gas Ins. Servs., Ltd. v. Houston Oil & Gas Co.

Court: Fla. Dist. Ct. App. | Date Filed: 1989-09-05T00:53:00-07:00

Citation: 552 So. 2d 1110

Snippet: Inc., 29 Cal. App.3d 594, 601, 105 Cal. Rptr. 607, 612 (1972)), "[o]nly where negligent service

Carter v. State

Court: Fla. Dist. Ct. App. | Date Filed: 1985-05-22T00:53:00-07:00

Citation: 469 So. 2d 194

Snippet: word." Bollenbach v. United States, 326 U.S. 607, 612, 66 S.Ct. 402, 405, 90 L.Ed. 350, 354 (1946).

Butch v. State

Court: Fla. Dist. Ct. App. | Date Filed: 1983-03-02T00:00:00-08:00

Citation: 427 So. 2d 785

Snippet: decisive word,” Bollenbach v. United States, 326 U.S. 607, 612, 66 S.Ct. 402, 405, 90 L.Ed. 350, 354 (1946),

Blitch v. State

Court: Fla. Dist. Ct. App. | Date Filed: 1983-03-01T23:53:00-08:00

Citation: 427 So. 2d 785

Snippet: word," Bollenbach v. United States, 326 U.S. 607, 612, 66 S.Ct. 402, 405, 90 L.Ed. 350, 354 (1946),