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The 2014 Florida Statutes

Title XXXVI
BUSINESS ORGANIZATIONS
Chapter 608
LIMITED LIABILITY COMPANIES
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F.S. 608.428 Florida Statute Attorney - Jacksonville, FL
1608.428 Liability upon wrongful distribution.
(1) If a member receives a distribution in violation of the articles of organization, the operating agreement, or this chapter, the member is liable to the limited liability company for a period of 3 years thereafter for the amount of the distribution wrongfully made.
(2) A member may not receive a distribution from a limited liability company to the extent that, after giving effect to the distribution, the limited liability company would be insolvent.
History.s. 32, ch. 93-284; s. 54, ch. 97-102; s. 1, ch. 99-315; s. 21, ch. 2002-272; s. 5, ch. 2013-180.
1Note.Repealed January 1, 2015, by s. 5, ch. 2013-180.

Statutes updated from Official Statutes on: August 26, 2015
F.S. 608.428 on Google Scholar

F.S. 608.428 on Casetext

Amendments to 608.428


Arrestable Offenses / Crimes under Fla. Stat. 608.428
Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 608.428.


Civil Citations / Citable Offenses under S608.428
R or S next to points is Mandatory Revocation or Suspension

Current data shows no reason a civil citation or a suspension or revocation of license should have been issued under Florida Statute 608.428.


Annotations, Discussions, Cases: