Florida Statutes 620.8911 – Definitions
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As used in this section and ss. 620.8912–620.8923:
(1) “Constituent partnership” means a constituent organization that is a partnership governed by this act.
(2) “Constituent organization” means an organization that is party to a merger.
(3) “Converted organization” means the organization into which a converting organization converts pursuant to ss. 620.8912–620.8915.
(4) “Converting partnership” means a converting organization that is a partnership governed by this act.
(5) “Converting organization” means an organization that converts into another organization pursuant to s. 620.8912.
(6) “Governing law” of an organization means the law that governs the organization’s internal affairs.
(7) “Organization” means a corporation; general partnership, including a limited liability partnership; limited partnership, including a limited liability limited partnership; limited liability company; common law or business trust or association; real estate investment trust; or any other person organized under a governing law or other applicable law, provided such term shall not include an organization that is not organized for profit, unless the not-for-profit organization is the converted organization in a conversion or the surviving organization in a merger governed by this act. The term includes both domestic and foreign organizations.
(8) “Organizational documents” means:
(a) For a domestic or foreign general partnership, its partnership agreement.
Terms Used In Florida Statutes 620.8911
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- 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.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- 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.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- person: includes individuals, children, firms, associations, joint adventures, partnerships, estates, trusts, business trusts, syndicates, fiduciaries, corporations, and all other groups or combinations. See Florida Statutes 1.01
(b) For a limited partnership or foreign limited partnership, its certificate of limited partnership and partnership agreement.
(c) For a domestic or foreign limited liability company, its articles of organization and operating agreement, or comparable records as provided in its governing law.
(d) For a business trust, its agreement of trust and declaration of trust.
(e) For a domestic or foreign corporation for profit, its articles of incorporation, bylaws, and other agreements among its shareholders which are authorized by its governing law, or comparable records as provided in its governing law.
(f) For any other organization, the basic records that create the organization and determine its internal governance and the relations among the persons that own it, have an interest in it, or are members of it.
(9) “Personal liability” means personal liability for a debt, liability, or other obligation of an organization which is imposed on a person that coowns, has an interest in, or is a member of the organization:
(a) By the organization’s governing law solely by reason of the person’s coowning, having an interest in, or being a member of the organization; or
(b) By the organization’s organizational documents under a provision of the organization’s governing law authorizing those documents to make one or more specified persons liable for all or specified debts, liabilities, and other obligations of the organization solely by reason of the person or persons’ coowning, having an interest in, or being a member of the organization.
(10) “Record” means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form.
(11) “Surviving organization” means an organization into which one or more other organizations are merged. A surviving organization may preexist the merger or be created by the merger.