Florida Statutes Title XXXVIII Chapter 658 - Banks And Trust Companies

• 658.12 - Definitions.
  Subject to other definitions contained in the financial institutions codes and unless the context otherwise requires:(1) “Association” means an association as defined in s. 665.012.(2) “Bank” means...
• 658.16 - Creation Of Banking Or Trust Corporation.
  (1) When authorized by the office, as provided herein, a corporation may be formed under the laws of this state for the purpose of becoming a...
• 658.165 - Banker’s Banks; Formation; Applicability Of Financial Institutions Codes; Exceptions.
  (1) If authorized by the office, a corporation may be formed under the laws of this state for the purpose of becoming a banker’s bank. An...
• 658.19 - Application For Authority To Organize A Bank Or Trust Company.
  (1) A written application for authority to organize a banking corporation or a trust company shall be filed with the office by the proposed directors and...
• 658.20 - Investigation By Office.
  (1) Upon the filing of an application, the office shall make an investigation of:(a) The character, reputation, financial standing, business experience, and business qualifications of the proposed...
• 658.21 - Approval Of Application; Findings Required.
  The office shall approve the application if it finds that:(1) Local conditions indicate reasonable promise of successful operation for the proposed state bank or trust company....
• 658.22 - Coordination With Federal Agencies.
  Upon approval by the office of the application for authority to organize a state bank, the office shall forward a copy of its final order...
• 658.23 - Submission Of Articles Of Incorporation; Contents; Form; Approval; Filing; Commencement Of Corporate Existence; Bylaws.
  (1) Within 3 months after approval by the office and the appropriate federal regulatory agency, the applicant shall submit its duly executed articles of incorporation to...
• 658.235 - Subscriptions For Stock; Approval Of Major Shareholders.
  (1) Within 6 months after commencement of corporate existence, and at least 30 days prior to opening, the directors shall have completed the stock offering and...
• 658.24 - Organizational Procedures.
  After the corporate existence of a bank or trust company corporation has commenced and the stock has been issued, but no less than 30 days...
• 658.25 - Opening For Business.
  (1) A bank or trust company corporation shall open and conduct a general commercial bank or trust business no later than 12 months after the commencement...
• 658.26 - Places Of Transacting Business; Branches; Facilities.
  (1) Any bank or trust company heretofore or hereafter incorporated pursuant to this chapter shall have one main office, which shall be located within the state.(2)(a) In...
• 658.27 - Control Of Bank Or Trust Company; Definitions And Related Provisions.
  (1) In ss. 658.27-658.285, unless the context clearly requires otherwise:(a) “Bank holding company” means any business organization which has or acquires control over any bank or trust...
• 658.28 - Acquisition Of Control Of A Bank Or Trust Company.
  (1) If a person or a group of persons, directly or indirectly or acting by or through one or more persons, proposes to purchase or acquire...
• 658.285 - Acquisition Or Ownership Of State Banks By International Banking Corporations.
  An international banking corporation may, with the approval of the office pursuant to s. 658.28, acquire control over or organize a state bank organized under...
• 658.2953 - Interstate Branching.
  (1) SHORT TITLE.—This section may be cited as the “Florida Interstate Branching Act.”(2) PURPOSE.—The purpose of this section is to provide for the regulation of interstate branching,...
• 658.30 - Application Of The Florida Business Corporation Act.
  (1) When not in direct conflict with or superseded by specific provisions of the financial institutions codes, the provisions of the Florida Business Corporation Act, part...
• 658.32 - Annual Meetings.
  Unless otherwise approved by the office, the annual meeting of stockholders of a state bank or trust company shall be held on such day in...
• 658.33 - Directors, Number, Qualifications; Officers.
  (1) The board of directors of a bank or trust company must consist of at least five directors, each of whom must be elected, except in...
• 658.34 - Shares Of Capital Stock.
  (1) A bank or trust company shall issue its capital stock with par value of not less than $1 per share.(2) No bank or trust company shall...
• 658.35 - Share Options; Warrants.
  (1) After obtaining the approval of the majority of the board of directors, the majority of the holders of common stock of the bank, and the...
• 658.36 - Changes In Capital.
  (1) A state bank or trust company may not reduce the number of shares of its outstanding capital stock without first obtaining the approval of the...
• 658.37 - Dividends And Surplus.
  (1) The directors of any bank or trust company, after charging off bad debts, depreciation, and other worthless assets if any, and making provision for reasonably...
• 658.38 - Deposit Insurance.
  A state bank must, prior to opening, obtain and thereafter maintain insurance of its deposits by the Federal Deposit Insurance Corporation.History.—s. 2, ch. 28016, 1953;...
• 658.39 - Stockholders; Examination Of Records.
  No bank, trust company, or financial institution-affiliated party shall permit any stockholder, other than a qualified director, officer, or employee thereof, to have access to,...
• 658.40 - Definitions For Merger And Consolidation.
  As used in the provisions of this code relating to the merger and consolidation of banks and trust companies, unless the context requires otherwise:(1) “Constituent bank...
• 658.41 - Merger; Resulting State Or National Bank.
  (1) Upon filing of an application with the office by the constituent banks or trust companies, and upon approval by the office, banks and state trust...
• 658.42 - Plan Of Merger And Merger Agreement.
  (1) If the resulting bank or trust company will be a state bank or a state trust company, the constituent banks or trust companies shall adopt...
• 658.43 - Approval By Office; Valuation Of Assets; Emergency Action.
  (1) After approval by the board of directors of each constituent bank or trust company, the plan of merger and merger agreement shall be submitted to...
• 658.44 - Approval By Stockholders; Rights Of Dissenters; Preemptive Rights.
  (1) The office shall not issue a certificate of merger to a resulting state bank or trust company unless the plan of merger and merger agreement,...
• 658.45 - Certificate Of Merger And Effective Date; Effect On Charters And Powers.
  (1) Promptly upon compliance with the provisions of s. 658.44(9), the office shall issue to the resulting bank a certificate of merger setting forth the name...
• 658.48 - Loans.
  A state bank may make loans and extensions of credit, with or without security, subject to the following limitations and provisions:(1) LOANS; GENERAL LIMITATIONS.—(a) A bank may...
• 658.491 - Commercial Loans By Financial Institutions.
  (1) In making collateralized commercial loans secured by accounts, contract rights, or other receivables, any bank may charge and collect audit charges in addition to interest....
• 658.51 - Banks Authorized To Make Commodity Loans.
  (1) Banks may make loans known and described as “commodity loans” on the obligations of any person, firm, copartnership, association, or corporation, in the form of...
• 658.53 - Borrowing; Limits Of Indebtedness.
  (1) Subject to the limitations imposed by this chapter on the indebtedness of state banks and trust companies, a state bank or trust company may borrow...
• 658.60 - Depositories Of Public Moneys And Pledge Of Assets.
  (1) Banks shall be depositories of public moneys; they may also be employed as financial agents of the state and its political subdivisions, and they shall...
• 658.67 - Investment Powers And Limitations.
  A bank may invest its funds, and a trust company may invest its corporate funds, subject to the following definitions, restrictions, and limitations:(1) INVESTMENTS NOT SUBJECT...
• 658.73 - Fees And Assessments.
  (1) Each state bank and state trust company shall pay to the office examination fees and assessments as follows:(a) A semiannual fee of $2,500; and(b) A semiannual assessment,...
• 658.79 - Taking Possession Of Insolvent State Banks Or Trust Companies.
  Whenever the office has reason to conclude, based upon the reports furnished to it by a state bank or trust company examiner or upon other...
• 658.80 - Appointment Of Receiver Or Liquidator.
  (1) Upon taking possession of a state bank or trust company pursuant to s. 658.79, the office shall appoint either a receiver to conserve the assets...
• 658.81 - Office Action; Notice And Court Confirmation.
  The office, immediately upon appointing such liquidator or receiver, shall serve notice upon any other person having the charge or management of any such bank...
• 658.82 - Receiver; Powers And Duties.
  (1) When the Federal Deposit Insurance Corporation or other appropriate federal agency is appointed receiver of the bank, it may proceed independently with the receivership pursuant...
• 658.83 - Liquidator; Powers And Duties.
  (1) When the Federal Deposit Insurance Corporation or other appropriate federal agency is appointed liquidator or makes a decision to liquidate a bank of which it...
• 658.84 - Transfers By Banks And Other Acts In Contemplation Of Insolvency.
  (1) Any and all transfers of the notes, bonds, bills of exchange, or other evidences of debt owing to any bank or trust company or of...
• 658.90 - Receivers Or Liquidators Under Supervision Of Office.
  The provisions of ss. 658.79-658.96 shall apply to all receivers or liquidators of any bank or trust company heretofore appointed by the order of any...
• 658.94 - Prima Facie Evidence.
  The general ledger, list of claimants, examiner’s final report made at the time of the failure of the bank or trust company, and such other...
• 658.95 - Voluntary Liquidation.
  Any bank or trust company may go into liquidation and be closed by a vote of its stockholders owning two-thirds of its stock. Whenever a...
• 658.96 - Procedure In Voluntary Liquidation.
  When a bank or trust company decides to go into voluntary liquidation, the president and cashier, or other appropriate officers, shall, before beginning publication of...
• 658.995 - Credit Card Bank Act.
  (1) This section may be cited as the “Credit Card Bank Act.”(2) As used in this section, the term:(a) “Credit card” means any type of arrangement or loan...

Last modified: September 23, 2016