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Florida Banks And Banking Code Section 655.016 - Financial Institutions Generally - Liability when acting upon rule, order, or declaratory statement.

Legal Research Home > Florida Lawyer > Banks and Banking > Florida Banks And Banking Code Section 655.016 - Financial Institutions Generally - Liability when acting upon rule, order, or declaratory statement.

Title XXXVIII   BANKS AND BANKING

Chapter 655   FINANCIAL INSTITUTIONS GENERALLY

655.016  Liability when acting upon rule, order, or declaratory statement.--No person acting, or who has acted, in good faith reliance upon a rule, order, or declaratory statement issued by the commission or office shall be subject to any criminal, civil, or administrative liability for such action, notwithstanding a subsequent decision by a court of competent jurisdiction invalidating the rule, order, or declaratory statement. In the case of an order or a declaratory statement which is not of general application, no person other than the person to whom the order or declaratory statement was issued is entitled to rely upon it, except upon material facts or circumstances which are substantially the same as those upon which the order or declaratory statement was based.

History.--s. 1, ch. 80-273; s. 438, ch. 81-259; s. 1, ch. 85-65; s. 1, ch. 91-307; s. 1, ch. 92-303; s. 1703, ch. 2003-261.

Last modified: November 21, 2006