Home  > For Small Business  > Business Structures  > Corporations  > Florida Statutes 607.0304 - Ultra vires 
Search the Florida Statutes

Florida Statutes 607.0304 - Ultra vires

Florida Statutes > Chapter 607 > 607.0304

Current as of: 2012
   (1) Except as provided in subsection (2), the validity of corporate action, including, but not limited to, any conveyance, transfer, or encumbrance of real or personal property to or by a corporation, may not be challenged on the ground that the corporation lacks or lacked power to act.
   (2) A corporation's power to act may be challenged:
   (a) In a proceeding by a shareholder against the corporation to enjoin the act;
   (b) In a proceeding by the corporation, directly, derivatively, or through a receiver, trustee, or other legal representative, or through shareholders in a representative suit, against an incumbent or former officer, employee, or agent of the corporation; or
   (c) In a proceeding by the Attorney General, as provided in this act, to dissolve the corporation or in a proceeding by the Attorney General to enjoin the corporation from the transaction of unauthorized business.
   (3) In a shareholder's proceeding under paragraph (2)(a) to enjoin an unauthorized corporate act, the court may enjoin or set aside the act, if equitable and if all affected persons are parties to the proceeding, and may award damages for loss (other than anticipated profits) suffered by the corporation or another party because of enjoining the unauthorized act.
Florida Statutes 607.0303 - Emergency powersChapter 607 Table of ContentsFlorida Statutes 607.0401 - Corporate name


Questions & Answers: Corporations

I have been denied records of metrix regarding use of POA facilities by property owners and supporting salry comp information upon which POA Officer salaries have been established....
As a property owner ia m legally a part owner of Seabrook Island. As such my position is that I am entitled to all information regarding the operation and expenses attributed to th...
What happens to the intellectual property of a business after a corporation is dissolved? Who gets it?...
does the president of the corporation have the authority to enter into a contract without a meeting and vote by the board of directors?...
I am one of two managing members of an LLC. We have a disagreement on the sale price of the spec home we have completed. If there is not a way to resolve disagreements in the opera...
Can a Master BOD President, who is also a Phase BOD Treasurer, be hired and compensated as the CAM?...

See also:

Florida Statutes > Chapter 607 - Corporations

U.S. Code Provisions: Corporations

U.S. Code > Title 15 > Chapter 98 - Public Company Accounting Reform And Corporate Responsibility

Related Articles: Corporations

 Shareholder Agreements
Comments (0)add comment

Post a comment or question below.
smaller | bigger

Email  Email Print  Print   Digg

Peacock Myers, P.C.

201 Third Street NW, Suite 1340
Albuquerque, New Mexico 87102
Practice Areas: For Small Business, Intellectual Property
The Jaffe Law Firm
General Practice Law Firm

320 Gold Avenue SW, #1300
Albuquerque, New Mexico 87102
Practice Areas: Employment, Criminal Law, Family Law, For Small Business, Personal Injury
Wolf & Fox, P.C.
Full Service Law Firm

1200 Pennsylvania NE
Albuquerque, New Mexico 87110
Practice Areas: Family Law