SENATE AMENDMENT

    Bill No. SB 826

    Amendment No.    

                            CHAMBER ACTION
              Senate                               House
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11  Senator Scott moved the following amendment:

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13         Senate Amendment (with title amendment) 

14         On page 1, line 11,

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16  insert:

17         Section 1.  Subsection (1) of section 607.0631, Florida

18  Statutes, is amended, and subsection (5) is added to that

19  section, to read:

20         607.0631  Corporation's acquisition of its own

21  shares.--

22         (1)  A corporation may acquire its own shares, and,

23  unless otherwise provided in the articles of incorporation or

24  except as provided in subsection (4) or subsection (5), shares

25  so acquired constitute authorized but unissued shares of the

26  same class but undesignated as to series.

27         (5)  A corporation that has shares of any class or

28  series which are either registered on a national securities

29  exchange or designated as a national market system security on

30  an interdealer quotation system by the National Association of

31  Securities Dealers, Inc., may acquire such shares and

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                                                  SENATE AMENDMENT

    Bill No. SB 826

    Amendment No.    





 1  designate, either in the bylaws or in the resolutions of its

 2  board, that shares so acquired by the corporation shall

 3  constitute treasury shares.

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 5  (Redesignate subsequent sections.)

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 8  ================ T I T L E   A M E N D M E N T ===============

 9  And the title is amended as follows:

10         On page 1, line 2,  after the semicolon,

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12  insert:

13         amending s. 607.0631, F.S.; authorizing a

14         corporation to acquire shares of a certain

15         series or class and designate such shares as

16         treasury shares;

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