eLaws of Florida

  SECTION 605.1063. Notice of appraisal rights.  


Latest version.
  • 1(1) 2If a proposed appraisal event is to be submitted to a vote at a members’ meeting, the meeting notice must state that the limited liability company has concluded that the members are, are not, or may be entitled to assert appraisal rights under this chapter.
    47(2) 48If the limited liability company concludes that appraisal rights are or may be available, a copy of ss. 66605.1006 67and 68605.106169-70605.1072 71must accompany the meeting notice sent to those record members who are or may be entitled to exercise appraisal rights.
    91(3) 92If the appraisal event is to be approved by written consent of the members pursuant to s. 109605.04073110:
    111(a) 112Written notice that appraisal rights are, are not, or may be available must be sent to each member from whom a consent is solicited at the time consent of such member is first solicited, and if the limited liability company has concluded that appraisal rights are or may be available, a copy of ss. 166605.1006 167and 168605.1061169-170605.1072 171must accompany such written notice; or
    177(b) 178Written notice that appraisal rights are, are not, or may be available must be delivered, at least 10 days before the appraisal event becomes effective, to all nonconsenting and nonvoting members, and, if the limited liability company has concluded that appraisal rights are or may be available, a copy of ss. 229605.1006 230and 231605.1061232-233605.1072 234must accompany such written notice.
    239(4) 240If a particular appraisal event is proposed and the limited liability company concludes that appraisal rights are or may be available, the notice referred to in subsection (1), paragraph (3)(a), or paragraph (3)(b) must be accompanied by:
    277(a) 278Financial statements of the limited liability company that issued the membership interests that may be or are subject to appraisal rights, consisting of a balance sheet as of the end of the fiscal year ending not more than 16 months before the date of the notice, an income statement for that fiscal year, and a cash flow statement for that fiscal year; however, if such financial statements are not reasonably available, the limited liability company shall provide reasonably equivalent financial information; and
    360(b) 361The latest available interim financial statements, including year-to-date through the end of the interim period, of such limited liability company, if any.
    383(5) 384The right to receive the information described in subsection (4) may be waived in writing by a member before or after the appraisal event.
History.-s. 2, ch. 2013-180; s. 269, ch. 2019-90.

Bills Cite this Section:

None

Cited by Court Cases:

None