The Walt Disney Company invoked a rare legal clause based on the descendants of the British royal family to block efforts by Florida Gov. Ron DeSantis to strip the company of its self-governance power in the state.
The clause is part of an agreement that limits the power the state has over Disney and the district and is set to continue until 21 years after the last surviving descendant of King Charles III of England who was alive as of Feb. 8 dies. One tax policy expert explained that if any of the grandchildren reach age 80, the clause will remain in force for a century.
On Feb. 8, the day before the Florida House voted to put DeSantis in charge of the Reedy Creek district, the previous Disney-allied board signed the agreement.
- The clause is most often used in the U.K., usually in trusts, and provides a buffer against perpetuities. It's been commonly used since 1692 in the U.K. but is rare in the U.S.
- Florida lawmakers have balked at the new agreement and have vowed to find a legal way to repeal or void the document.
- Disney said all of its conduct was legal and conducted in properly noticed meetings.
