1997 Florida Code
TITLE XXX SOCIAL WELFARE
Chapter 424 Limited Dividend Housing Companies
424.11 Dividends limited.
424.11 Dividends limited.--No stockholder in any company formed hereunder shall receive any dividend, or other distribution based on stock ownership, in any one year in excess of 6 percent per annum except that when in any preceding year dividends in the amount prescribed in the articles of incorporation shall not have been paid on the said stock, the stockholders may be paid such deficiency without interest out of any surplus earned in any succeeding years.
History.--s. 10, ch. 16028, 1933; CGL 1936 Supp. 4151(142).
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