SECTION 607.0623. Share dividends.

Latest version.

1(1) 2Unless the articles of incorporation provide otherwise, shares may be issued pro rata and without consideration to the corporation’s shareholders or to the shareholders of one or more classes or series of shares. An issuance of shares under this subsection is a share dividend.
46(2) 47Shares of one class or series may not be issued as a share dividend in respect of shares of another class or series unless:
71(a) 72The articles of incorporation so authorize,
78(b) 79A majority of the votes entitled to be cast by the class or series to be issued approves the issue, or
100(c) 101There are no outstanding shares of the class or series to be issued.
114(3) 115The board of directors may fix the record date for determining shareholders entitled to a share dividend, but the date may not be retroactive. If the board of directors does not fix the record date for determining shareholders entitled to a share dividend, the record date is the date the board of directors authorizes the share dividend.

History.-s. 40, ch. 89-154; s. 44, ch. 2019-90; s. 11, ch. 2020-32.

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