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. 621.11

621.11 Alienation of shares and ownership interests; restrictions.—

(1) No shareholder of a corporation organized under this act may sell or transfer her or his shares in such corporation except to another professional corporation, professional limited liability company, or individual, each of which must be eligible to be a shareholder of such corporation.

(2) No member of a limited liability company organized under this act may sell or transfer ownership interest in the limited liability company except to another professional corporation, professional limited liability company, or individual, each of which must be eligible to be a member of the limited liability company.

History.—s. 11, ch. 61-64; s. 3, ch. 67-590; s. 12, ch. 93-110; s. 85, ch. 93-284; s. 171, ch. 97-102.

F.S. 621.11 on Google Scholar

F.S. 621.11 on Casetext

Amendments to 621.11

Arrestable Offenses / Crimes under Fla. Stat. 621.11

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

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 621.11.

Annotations, Discussions, Cases:

Cases from cite.case.law:

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 . . .

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 . . . The shortcomings of Section 621.11, Florida Statutes (1961), were pinpointed as (1) the ambiguity in . . . Section 621.11 now reads: " — No shareholder of a corporation organized under this act may sell or transfer . . . While majority shareholder approval is no longer required by Section 621.11 as a condition precedent . . .

A. KURZNER C. A. v. UNITED STATES, 413 F.2d 97 (5th Cir. 1969)

. . . . § 621.11 (1961). . . .

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

. . . . § 621.11, F.S.A.) . . .

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

. . . . * * * ” Section 621.11, Florida Statutes, F.S.A. . . . 1965 the Charter of the corporation was amended to prevent a sale of the stock, except under Section 621.11 . . .

THE SCHOONER ATLANTIC. WILLIAM WOODBRIDGE, v. THE UNITED STATES HERBERT ALMY, v. THE SAME THE NEWPORT INSURANCE COMPANY v. THE SAME, 37 Ct. Cl. 17 (Ct. Cl. 1901)

. . . of vessel. 31,500. 00 One-half freight earnings for the voyage. 708. 33 One-third value of cargo. 1, 621.11 . . . Their losses were as follows: One-third value of the cargo. §1, 621.11 One-third premium of insurance . . .