Chapter 609 — Chapter 609
9 sections in this chapter.
Fla. Stat. § 609.01 Common-law declaration of trust
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Two or more persons, whether residents of this state or not, may organize and associate themselves together for the purpose of transacting business in this state under what is commonly designated or known as a “declaration of trust”; provided, however, no such association shall e…
Fla. Stat. § 609.02 Filing a declaration of trust
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Every such organization organized for the purpose of transacting business in this state, or organized in this state for the purpose of transacting business elsewhere, which intends to sell or offer for sale any units, shares, contracts, notes, bonds, mortgages, oil or mineral lea…
Fla. Stat. § 609.03 Issuance of certificate to association
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Upon the filing of the copy of the declaration of trust and the payment of the filing fee, in compliance with s. 609.02, the Department of State shall issue to the trustees named in the said declaration of trust a certificate showing that such declaration of trust has been duly f…
Fla. Stat. § 609.04 Unlawful to transact business prior to compliance
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No person may transact or conduct any business, within this state, under any declaration of trust, or like association, without first complying with the provisions and requirements of this chapter, and no person organized to do business under any such declaration of trust, may of…
Fla. Stat. § 609.05 Qualification with Office of Financial Regulation
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Before any person may offer for sale, barter or sell any unit, share, contract, note, bond, mortgage, oil or mineral lease or other security of an association doing business under what is known as a “declaration of trust” in this state, such person shall procure from the Office o…
Fla. Stat. § 609.051 Shares, personal property
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Shares, however designated, in such trusts are declared for purposes of taxation, to be personal property, and not interest in land, notwithstanding the nature of the property of which the trust shall consist unless otherwise provided in the trust instrument.
Fla. Stat. § 609.06 Penalties
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Any person who shall violate any of the provisions of this chapter shall be guilty of a felony of the third degree, punishable as provided in s. 775.082, s. 775.083, or s. 775.084.
Fla. Stat. § 609.07 Issuance of certain units, shares, certificates, or other security
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The declaration of trust may provide that the units, shares, certificates of beneficial ownership or interest, or other security issued, or to be issued, in accordance with the provisions thereof shall be fully paid and nonassessable. When the declaration of trust so provides, ev…
Fla. Stat. § 609.08 Merger of association into wholly owned subsidiary corporation; dissenters’ rights of appraisal
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(1) Any association organized under the laws of this state pursuant to a declaration of trust filed in accordance with the provisions of this chapter, which owns all of the outstanding shares of any corporation, domestic or foreign, may merge into such corporation as provided in …