The 2023 Florida Statutes (including Special Session C)

Title XXXVI
BUSINESS ORGANIZATIONS

Chapter 621
PROFESSIONAL SERVICE CORPORATIONS AND LIMITED LIABILITY COMPANIES

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F.S. 621.09

621.09 Limitation on issuance and transfer of ownership.—

(1) No corporation organized under the provisions of this act may issue any of its capital stock to anyone other than a professional corporation, a professional limited liability company, or an individual who is duly licensed or otherwise legally authorized to render the same specific professional services as those for which the corporation was incorporated. No shareholder of a corporation organized under this act shall enter into a voting trust agreement or any other type agreement vesting another person with the authority to exercise the voting power of any or all of that person’s stock.

(2) No person shall be admitted as a member of a limited liability company organized under this act, unless such person is a professional corporation, a professional limited liability company, or an individual, each of which must be duly licensed or otherwise legally authorized to render the same specific professional services as those for which the limited liability company is organized. No member of a limited liability company organized under this act shall enter into any type of agreement vesting another person with the authority to exercise any of that member’s voting power in the limited liability company.

History.—s. 9, ch. 61-64; s. 10, ch. 93-110; s. 83, ch. 93-284.

F.S. 621.09 on Google Scholar

F.S. 621.09 on Casetext

Amendments to 621.09

Arrestable Offenses / Crimes under Fla. Stat. 621.09

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 621.09.

Annotations, Discussions, Cases:

Cases from cite.case.law:

In A. ADAMS,, 389 B.R. 762 (Bankr. M.D. Fla. 2007)

. . . . § 621.09(1). . . .

In R. SIX,, 190 B.R. 958 (Bankr. M.D. Fla. 1995)

. . . Section 621.09 and 621.11 provide that the capital stock of a professional service corporation may be . . . Stat. 621.09 and 621.11, that no corporation organized as a professional service corporation may issue . . . professional corporation can be transferred only to a duly licensed member of the profession, see Fla.Stat. 621.09 . . .

In URBAN S. JOHNSON, v. WALDEN, HCR HCR,, 138 B.R. 632 (Bankr. M.D. Fla. 1992)

. . . . §§ 621.09, 621.11, prohibits the sale or transfer of stock in a professional service corporation to . . .

CORLETT, KILLIAN, HARDEMAN, McINTOSH AND LEVI, P. A. f k a P. A. v. C. MERRITT, D. B. III,, 478 So. 2d 828 (Fla. Dist. Ct. App. 1985)

. . . Sections 621.09 and 621.11 provide, respectively, that capital stock of professional service corporations . . . professional corporation can be transferred only to a duly licensed member of the profession, see § 621.09 . . .

STREET v. S. SUGERMAN, 202 So. 2d 749 (Fla. 1967)

. . . . § 621.09, F.S.A. and F.S. § 621.11, F.S.A.) . . .

S. SUGERMAN v. STREET, 198 So. 2d 57 (Fla. Dist. Ct. App. 1967)

. . . Section 621.09, Florida Statutes, F.S.A. . . .