(1) A member entitled to appraisal rights under this chapter may not challenge a completed appraisal event for which appraisal rights are available unless such completed appraisal event was either:

(a) Not authorized and approved in accordance with the applicable provisions of this chapter, the organic rules of the limited liability company, or the resolutions of the members authorizing the appraisal event.
lawyer at desk

Ask a business law question, get an answer ASAP!
Thousands of highly rated, verified business lawyers.
Click here to chat with a lawyer about your rights.

Terms Used In Florida Statutes 605.1072

  • Appraisal: A determination of property value.
  • Fraud: Intentional deception resulting in injury to another.
  • Member: means a person who:
    (a) Is a member of a limited liability company under…. See Florida Statutes 605.0102
  • Organic rules: means the public organic record and private organic rules of an entity. See Florida Statutes 605.0102
(b) Procured as a result of fraud, a material misrepresentation, or an omission of a material fact that is necessary to make statements made, in light of the circumstances in which they were made, not misleading.
(2) Nothing in this section operates to override or supersede s. 605.04092.
  Previous section
Next section  
 Chapter 605 Contents