658.94 – Prima Facie Evidence.
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 records of the office’s office relating to any closed bank or trust company, or any duly authenticated copy thereof, shall be prima facie evidence of the subject matter […]
658.95 – Voluntary Liquidation.
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 vote is taken to go into liquidation, the board of directors shall cause this fact to be certified to the office and publication thereof to be made for a […]
658.96 – Procedure in Voluntary Liquidation.
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 the notice required by law, furnish the office with a full and complete detailed statement of the affairs of the bank or trust company and shall thereafter […]
658.995 – Credit Card Bank Act.
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 agreement pursuant to which a domestic lender or credit card bank gives a borrower the privilege of using a credit card or other credit […]
658.67 – Investment Powers and Limitations.
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 TO LIMITATION.—A bank or trust company may invest without limitation in the following: (a) Direct obligations of the United States Government. (b) Obligations of agencies created by act […]
658.73 – Fees and Assessments.
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, each in such amount as may be determined by the commission, by rule, but not exceeding 15 cents for each $1,000 of total assets as […]
658.79 – Taking Possession of Insolvent State Banks or Trust Companies.
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 satisfactory evidence, that any state bank or trust company: (1) Is insolvent or imminently insolvent; or (2) Is transacting its business in an unsound, […]
658.80 – Appointment of Receiver or Liquidator.
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 of the institution or a liquidator to liquidate the assets of the institution and wind up its affairs. (2) The Federal Deposit Insurance Corporation or any […]
658.81 – Office Action; Notice and Court Confirmation.
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 or trust company, informing him or her of its action in appointing such liquidator or receiver and notifying him or her that the office will […]
658.40 – Definitions for Merger and Consolidation.
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 or trust company” means a bank or a state trust company which is a party to a merger. (2) “Merger” includes consolidation. (3) “Resulting bank or trust […]