Florida Statutes 617.0604 – Liability of members
Current as of: 2023 | Check for updates
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Terms Used In Florida Statutes 617.0604
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Member: means one having membership rights in a corporation in accordance with the provisions of its articles of incorporation or bylaws or the provisions of this chapter. See Florida Statutes 617.01401
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
(1) A member of a corporation is not, as such, personally liable for any act, debt, liability, or obligation of the corporation.
(2) A member may become liable to the corporation for dues, assessments, or fees as provided by law.