The Florida Senate

424.22  Duration of corporate existence.--The corporate existence of any corporation authorized hereunder shall not extend beyond 25 years from the date of incorporation; and, promptly upon such termination, the corporation shall be liquidated and its assets distributed as provided herein, unless the incorporation board, by approval of the Department of Community Affairs, grants an extension for an additional period of time.

History.--s. 22, ch. 16028, 1933; CGL 1936 Supp. 4151(154); ss. 18, 35, ch. 69-106; s. 72, ch. 81-167; s. 75, ch. 83-55.