Florida Statutes 617.1301 – Prohibited distributions
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Terms Used In Florida Statutes 617.1301
- 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.
Except as authorized in ss. 617.0505 and 617.1302, a corporation may not make any distributions to its members.