Florida Statutes Part II - Social Purpose Corporations (Ss. 607.501-607.513)

• 607.501 - Application And Effect Of Part.
  (1) This part applies to a social purpose corporation and does not affect a corporation that is not a social purpose corporation.(2) Except as otherwise provided in...
• 607.502 - Definitions.
  As used in this part, unless the context otherwise requires, the term:(1) “Benefit director” means:(a) The director designated as the benefit director of a social purpose corporation...
• 607.503 - Incorporation.
  To incorporate as a social purpose corporation, an incorporator must satisfy the requirements of this chapter, and the articles of incorporation must state that the...
• 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...
• 607.505 - Termination Of Social Purpose Corporation Status.
  (1) A social purpose corporation may terminate its status as such and cease to be subject to this part by amending its articles of incorporation to...
• 607.506 - Corporate Purpose.
  (1) A social purpose corporation has the purpose of creating a public benefit. This purpose is in addition to its purpose under s. 607.0301.(2) The articles of...
• 607.507 - Standard Of Conduct For Directors.
  (1) In discharging their duties and in considering the best interests of the social purpose corporation, the directors:(a) Shall consider the effects of any action or inaction...
• 607.508 - Benefit Director.
  (1) If the articles of incorporation so provide, the board of directors of a social purpose corporation may include a director who is designated as the...
• 607.509 - Standard Of Conduct For Officers.
  (1) If an officer of a social purpose corporation reasonably believes that a matter may have a material effect on the ability of the corporation to...
• 607.510 - Benefit Officer.
  (1) A social purpose corporation may designate an officer as the benefit officer.(2) The benefit officer has the powers and duties set forth in the bylaws or...
• 607.511 - Right Of Action.
  (1)(a) Except in a benefit enforcement proceeding, a person may not bring an action or assert a claim against a social purpose corporation or its directors...
• 607.512 - Preparation Of Annual Benefit Report.
  (1) Unless it is prepared by a benefit director or benefit officer, the board of directors shall prepare an annual benefit report. The annual benefit report...
• 607.513 - Availability Of Annual Benefit Report.
  (1) Each social purpose corporation shall send its annual benefit report to each shareholder:(a) Within 120 days after the end of the fiscal year of the social...

Last modified: September 23, 2016