420.101 Housing Development Corporation of Florida; creation, membership, and purposes.— (1) Twenty-five or more persons, a majority of whom shall be residents of this state, who may desire to create a housing development corporation under the provisions of this part for the purpose of promoting and developing housing and advancing the prosperity and economic welfare of the […]
420.102 Definitions.—As used in this part, the following words and terms have the following meanings unless the context indicates another or different meaning or intent: (1) “Board of directors” means the board of directors of the corporation created pursuant to this part. (2) “Consortium” means two or more mortgagees who jointly negotiate and agree to provide home equity […]
420.111 Housing Development Corporation of Florida; additional powers.—In furtherance of its purposes and in addition to the powers now or hereafter conferred on business corporations by part I of chapter 607, the corporation shall, subject to the restrictions and limitations contained in this section, have the following powers: (1) To elect, appoint, and employ officers, agents and […]
420.112 Authorization for certain relationships.—Notwithstanding any rule at common law or any provision of any general or special law or any provision in their respective charters, agreements of association, articles of organization, or trust indentures: (1) All persons, including all domestic corporations organized for the purpose of carrying on business within this state, and further including without […]
420.123 Stockholders; loan requirement.— (1) Any financial institution may request membership in the corporation by making application to the board of directors on such form and in such manner as the board of directors may require, and membership shall become effective upon acceptance of the application in the manner designated by the board. Each member stockholder of […]
420.124 Stockholders; powers.—The stockholders of the corporation shall have the following powers of the corporation: (1) To make, amend, and repeal bylaws. (2) To amend the charter as provided in s. 420.131. (3) To dissolve the corporation as provided in s. 420.161. (4) To do all things necessary or desirable to secure aid, assistance, loans, and other financing from any […]
420.131 Articles of incorporation; method of amending.— (1) The articles of incorporation may be amended by the vote of the stockholders of the corporation, and such amendments shall require approval by the affirmative vote of two-thirds of the votes to which the stockholders shall be entitled. However, no amendment of the articles of incorporation which is inconsistent […]
420.141 Housing Development Corporation of Florida; deposits and examination.— (1) The corporation shall not deposit any of its funds in any financial institution unless such institution has been designated as a depository by the vote of the majority of the directors present at an authorized meeting of the board of directors, exclusive of any director who is […]
420.161 Housing Development Corporation of Florida; period of existence; method of dissolution.— (1) The period of duration of the corporation shall be perpetual, subject, however, to the right of the stockholders and the members to dissolve the corporation as provided in subsection (2). (2) The corporation may, upon the affirmative vote of two-thirds of the votes to which […]
420.171 Housing Development Corporation of Florida; tax privileges and fiscal year.— (1) Any tax exemptions, tax credits, or tax privileges granted to banks, savings and loan associations, and trust companies by the general laws of the state are granted to the corporation organized pursuant to this chapter. (2) The corporation organized under this chapter shall adopt the calendar […]
