The bill amends various sections of the Florida Statutes to modernize and clarify the governance of nonprofit corporations, now referred to as the Florida Nonprofit Corporation Act. Key changes include the introduction of definitions for terms such as "filed document," "plan," "charitable asset," and "charitable purpose," while replacing outdated terminology like "not for profit" with "nonprofit." The bill allows corporations to file articles of amendment without additional board or member action and specifies that documents accepted for filing can include effective times and delayed effective dates. It also outlines the rights of members to inspect records and receive annual financial statements, while establishing procedures for the domestication and conversion of corporations.

Additionally, the bill enhances the emergency powers of cooperative associations, allowing them to conduct meetings electronically and take necessary actions during declared emergencies, including levying special assessments without owner approval. It addresses conflicts of interest by requiring disclosure of proposed activities involving directors or officers and establishes that contracts not properly disclosed are voidable. The legislation aims to streamline corporate processes, enhance transparency and accountability, and ensure compliance with updated legal standards, with an effective date set for July 1, 2026.

Statutes affected:
S 554 Filed: 617.01011, 617.0123, 617.0124, 617.0126, 617.0127, 617.0128, 617.01301, 617.01401, 617.0204, 617.0206, 617.0304, 617.0502, 617.0503, 617.0505, 617.0604, 617.0605, 617.0606, 617.0608, 617.0701, 617.0721, 617.0803, 617.0820, 617.0823, 617.0830, 617.0832, 617.0835, 617.1001, 617.1006, 617.1101, 617.1102, 617.1103, 617.1105, 617.1106, 617.1107, 617.1202, 617.1401, 617.1402, 617.1403, 617.1405, 617.1406, 617.1407, 617.1408, 617.1420, 617.1430, 617.1431, 617.1433, 617.1440, 617.1502, 617.1504, 617.1505, 617.1506, 617.1508, 617.1509, 617.1520, 617.1530, 617.1532, 617.1601, 617.1602, 617.1603, 617.1604, 617.1605, 617.1622, 617.2005, 617.2006, 39.8298, 381.00316, 605.1025, 617.0102, 617.0121, 617.0122, 617.0125, 617.02011, 617.0203, 617.0205, 617.0301, 617.0504, 617.0806, 617.0824, 617.0831, 617.0901, 617.1008, 617.1009, 617.1404, 617.1422, 617.1501, 617.1510, 617.1606, 617.1701, 617.1702, 617.1703, 617.1711, 617.1808, 617.1809, 617.1904, 617.1907, 617.1908, 617.2001, 617.2002, 617.2003, 617.2007, 617.2101, 617.221, 620.2108, 620.8918, 768.38, 893.055