1 | A bill to be entitled |
2 | An act relating to corporate annual financial statements; |
3 | amending s. 607.1620, F.S.; revising a requirement for |
4 | corporations to provide annual financial statements to |
5 | shareholders; specifying criteria for satisfaction of such |
6 | requirement; providing an effective date. |
7 |
|
8 | Be It Enacted by the Legislature of the State of Florida: |
9 |
|
10 | Section 1. Subsection (3) of section 607.1620, Florida |
11 | Statutes, is amended, and subsection (5) is added to that |
12 | section, to read: |
13 | 607.1620 Financial statements for shareholders.-- |
14 | (3) Any A corporation required by subsection (1) to |
15 | furnish annual financial statements to its shareholders shall |
16 | furnish mail the annual financial statements to each shareholder |
17 | within 120 days after the close of each fiscal year or within |
18 | such additional time thereafter as is reasonably necessary to |
19 | enable the corporation to prepare its financial statements if, |
20 | for reasons beyond the corporation's control, it is unable to |
21 | prepare its financial statements within the prescribed period. |
22 | Thereafter, upon a on written request from a shareholder who was |
23 | not furnished mailed the statements, the corporation shall |
24 | furnish mail him or her the latest annual financial statements. |
25 | (5) The requirement to furnish annual financial statements |
26 | under this section shall be satisfied by sending the statements |
27 | by mail or electronically. However, if a corporation has an |
28 | outstanding class of securities registered under s. 12 of the |
29 | Securities and Exchange Act of 1934, as amended, the requirement |
30 | to furnish annual financial statements shall be considered |
31 | satisfied by complying with the provisions of Title 17 C.F.R. s. |
32 | 240.14a-16, as amended, requiring corporations to furnish annual |
33 | financial reports to shareholders. |
34 | Section 2. This act shall take effect July 1, 2009. |