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2022 Florida Statutes
Title XXXVI - Business Organizations
Chapter 607 - Florida Business Corporation Act
Part I - General Provisions (Ss. 607.0101-607.193)
607.0742 - Complaint; demand and excuse.
Universal Citation: FL Stat § 607.0742 (2022)
607.0742 Complaint; demand and excuse.—A complaint in a proceeding brought in the right of a corporation must be verified and allege with particularity:
(1) The demand, if any, made to obtain the action desired by the shareholder from the board of directors; and
(2) Either:
(a) If such a demand was made, that the demand was refused, rejected, or ignored by the board of directors prior to the expiration of 90 days from the date the demand was made;
(b) If such a demand was made, why irreparable injury to the corporation or misapplication or waste of corporate assets causing material injury to the corporation would result by waiting for the expiration of a 90-day period from the date the demand was made; or
(c) The reason or reasons the shareholder did not make the effort to obtain the desired action from the board of directors or comparable authority.
History.—s. 74, ch. 2019-90.