Florida – Board often can sue without shareholder vote

Community life: Board often can sue without shareholder voteQ: I live in a mobile home park cooperative. Can the board of directors enter into a lawsuit without the approval of the shareholders? – D.R. (via e-mail) A: Probably. Except where otherwise limited by the governing statutes, community associations are conferred all of the general powers of Corporations Not For Profit pursuant to Chapter 617.

Embedly Powered

Leave a Reply

Your email address will not be published. Required fields are marked *