What is the process for declaring corporate splits?

In Florida, the process for declaring corporate splits is straightforward. First, the company must pass a resolution setting out the terms of the split. This resolution must state the effective date, the number of new shares that will be issued, and the terms of any stock options or other forms of equity that may be given out as part of the split. Then, the company must record the resolution and file it with the Florida Department of State Division of Corporations. The resolution must also be published in a general circulation newspaper in the county where the company is located. Finally, the company must provide written notice to the shareholders of the split. This notice must include the date of the resolution and the terms and conditions of the split. Once these steps are complete, the corporate split is declared. It is important to note that if the company does not comply with the steps outlined above, the split may be deemed invalid. Therefore, it is important to consult with a qualified attorney to ensure that all necessary paperwork is filed properly.

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