Florida Clauses Relating to Capital Withdrawals: In the state of Florida, there are several clauses that address capital withdrawals in various legal agreements. These clauses define the conditions and terms under which partners or members of a business entity can withdraw their capital investments. They aim to provide guidelines that ensure fair treatment for all parties involved and protect the interests of both investors and the entity itself. 1. Capital Withdrawal Clause: This clause outlines the circumstances under which a partner or member can withdraw their capital from the business. It may include specific triggering events such as death, disability, retirement, or voluntary withdrawal. The clause may also specify the method of valuation for the withdrawn capital and any associated penalties or restrictions. 2. Return of Capital Clause: This clause addresses the repayment of capital by the entity to the withdrawing partner or member. It may outline the timeline or schedule for the return of capital and any interest or earnings that may accrue on the withdrawn amount. The clause may also specify the priority or order in which capital is returned, particularly when multiple partners or members are withdrawing simultaneously. Florida Clauses Relating to Interest on Capital: Interest on capital clauses govern the payment of interest on capital investments made by partners or members in a business entity. These clauses ensure that individuals who have invested capital in the entity receive adequate compensation for their investment, in addition to any profits or distributions they may be entitled to. 1. Interest on Capital Clause: This clause defines the rate of interest to be paid on the capital investments made by partners or members. It may specify a fixed rate or a variable rate based on a predetermined formula or external market indices. The clause may also outline the frequency of interest payments and any conditions or prerequisites for earning interest. 2. Accrual of Interest Clause: This clause determines when interest on capital begins to accrue. It may state that interest is accrued from the date of investment or from a later predetermined date. The clause may also specify how interest is calculated, such as compounding annually, semi-annually, or on a different schedule. 3. Priority of Interest Payments Clause: This clause establishes the priority or order in which interest payments are made. It may specify that interest payments on capital are made before profits or distributions are allocated to partners or members. The clause may also address any limitations or restrictions on interest payments, such as capping the total interest payable or limiting interest to a specified time period. It is important to note that the specific terms and language of these clauses may vary depending on the individual business entity, the nature of its operations, and the agreements between partners or members. Consulting with a legal professional is always recommended when drafting or interpreting these clauses to ensure compliance with Florida laws and the unique circumstances of the business.
Florida Clauses Relating to Capital Withdrawals, Interest on Capital
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(19) ?Grantor? means one who creates or adds to a trust and includes ?settlor? or ?trustor? and a testator who creates or adds to a trust. (20) ?Heirs? or ?heirs at law? means those persons, including the surviving spouse, who are entitled under the statutes of intestate succession to the property of a decedent.
(6) ?Collateral heir? means an heir who is related to the decedent through a common ancestor but who is not an ancestor or descendant of the decedent. (7) ?Court? means the circuit court.
738.302 Apportionment of receipts and disbursements when decedent dies or income interest begins. 738.303 Apportionment when income interest ends.
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738.102 Definitions. ?As used in this chapter, the term: (1) ?Accounting period? means a calendar year unless another 12-month period is selected by a fiduciary. The term includes a portion of a calendar year or other 12-month period that begins when an income interest begins or ends when an income interest ends.
280.02 Definitions. ?As used in this chapter, the term: (1) ?Affiliate? means an entity that is related through a parent corporation's controlling interest. The term also includes a financial institution holding company or a subsidiary or service corporation of such holding company.
Section 501.98, Florida Statutes, requires that, at least 30 days before bringing any claim against a motor vehicle dealer for an unfair or deceptive trade practice, a consumer must provide the dealer with a written demand letter stating the name, address, and telephone number of the consumer; the name and address of ...
