Revised Florida Not For Profit Corporation Act

Dear Clients and Friends,

The Florida Not For Profit Corporation Act (“Ch. 617”) has not been significantly examined or amended for over fifteen years. During that time, corporate processes, director responsibilities, membership rights, potential liability issues, and other factors have been amended in Florida’s for-profit corporation statute, the Florida Business Corporation Act (“Ch. 607”), and in the Model Nonprofit Corporation Act (“MNCA”) adopted by the Business Law Section of the American Bar Association. In order to assess whether and to what extent Ch. 617 should be amended, a Ch. 617 “Task Force” was formed by the Business Law Section of The Florida Bar. The Task Force consists of attorneys experienced in matters regarding nonprofit corporations. I am a member of the Business Law Section of the Florida Bar. The proposed legislative changes have now been drafted for approval. I will post in my blog when the amendments have passed.