Florida § 617.0603 - Compensation and benefits.
Full text of Florida Florida Statutes § 617.0603 — Compensation and benefits., with citation guidance and answers to common questions.
§ 617.0603. Compensation and benefits.
A corporation may do any of the following: (1) Pay compensation in reasonable amounts to its members, directors, officers, agents, and employees for services rendered. (2) Confer benefits upon its members in conformity with its purposes. (3) Upon dissolution or final liquidation, make distributions to its members or others as permitted by this chapter. No such payments, benefits, or distributions may be deemed to be a dividend or a distribution of income or earnings.
Frequently Asked Questions About Florida § 617.0603
What does Florida Statutes § 617.0603 cover?
Section 617.0603 ("Compensation and benefits.") is part of the Florida Statutes, the codified statutory law of Florida. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Florida § 617.0603?
A common citation format is "Florida Statutes § 617.0603" (Florida). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Florida law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Florida official source linked on this page or consult a licensed Florida attorney.
How does Florida § 617.0603 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Florida can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Florida.