Fla. Stat. 607.504
Election of social purpose corporation status

(1)

An existing corporation may become a social purpose corporation under this part by amending its articles of incorporation to include a statement that the corporation is a social purpose corporation under this part. The amendment must be adopted by the minimum status vote.

(2)

A plan of merger, domestication, conversion, or share exchange must be adopted by the minimum status vote if an entity that is not a social purpose corporation is a party to the merger, domestication, or conversion or if the exchanging entity in a share exchange and the surviving, new, or resulting entity is, or will be, a social purpose corporation.

(3)

If an entity elects to become a social purpose corporation by amendment of the articles of incorporation or by a merger, domestication, conversion, or share exchange, the shareholders of the entity are entitled to appraisal rights under and pursuant to ss. 607.1301-607.1340.

Source: Section 607.504 — Election of social purpose corporation status, https://www.­flsenate.­gov/Laws/Statutes/2024/0607.­504 (accessed Aug. 7, 2025).

Current through Fall 2025

§ 607.504. Election of social purpose corporation status's source at flsenate​.gov