2009 Florida Statutes
Housing Development Corporation of Florida; period of existence; method of dissolution.
420.161 Housing Development Corporation of Florida; period of existence; method of dissolution.--
(1) The period of duration of the corporation shall be perpetual, subject, however, to the right of the stockholders and the members to dissolve the corporation as provided in subsection (2).
(2) The corporation may, upon the affirmative vote of two-thirds of the votes to which the stockholders shall be entitled, dissolve said corporation as provided by chapter 607, insofar as chapter 607 is not in conflict with the provisions of this act. Upon any dissolution of the corporation, none of the corporation's assets shall be distributed to the stockholders until all sums due the members of the corporation as creditors thereof have been paid in full.
History.--s. 1, ch. 72-172; s. 149, ch. 77-104.