Florida § 607.0742 Complaint; demand and excuse

Florida Statutes

§ 607.0742 — Complaint; demand and excuse

Florida § 607.0742

TitleXXXVI

Ch. 607FLORIDA BUSINESS CORPORATION ACT

This text of Florida § 607.0742 (Complaint; demand and excuse) is published on Counsel Stack Legal Research, covering Florida primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Fla. Stat. § 607.0742 (2026).

Text

A complaint in a proceeding brought in the right of a corporation must be verified and allege with particularity:

(1)The demand, if any, made to obtain the action desired by the shareholder from the board of directors; and

(2)Either:

(a)If such a demand was made, that the demand was refused, rejected, or ignored by the board of directors prior to the expiration of 90 days from the date the demand was made;

(b)If such a demand was made, why irreparable injury to the corporation or misapplication or waste of corporate assets causing material injury to the corporation would result by waiting for the expiration of a 90-day period from the date the demand was made; or (c) The reason or reasons the shareholder did not make the effort to obtain the desired action from the board of directors

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A complaint in a proceeding brought in the right of a corporation must be verified and allege with particularity:

(1) The demand, if any, made to obtain the action desired by the shareholder from the board of directors; and

(2) Either: (a) If such a demand was made, that the demand was refused, rejected, or ignored by the board of directors prior to the expiration of 90 days from the date the demand was made; (b) If such a demand was made, why irreparable injury to the corporation or misapplication or waste of corporate assets causing material injury to the corporation would result by waiting for the expiration of a 90-day period from the date the demand was made; or (c) The reason or reasons the shareholder did not make the effort to obtain the desired action from the board of directors or comparable authority.