658.32 – Annual Meetings.
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 the first 4 months of each year as is specified therefor in the articles of incorporation or in the bylaws of the corporation; however, when the day fixed in […]
658.33 – Directors, Number, Qualifications; Officers.
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 cases in which a director must be appointed to fill a vacancy. Elections are to be held at the annual meeting of stockholders or at a […]
658.34 – Shares of Capital Stock.
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 issue any shares of capital stock at a price less than par value, and prior to issuance, any such shares must be fully paid in […]
658.35 – Share Options; Warrants.
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 office and after complying with the provisions of s. 607.0624, any bank or trust company may, for the purpose of providing share options for or issuing warrants […]
658.21 – Approval of Application; Findings Required.
658.21 Approval of application; findings required.—The office shall approve the application if it finds that: (1) Local and target market conditions indicate reasonable promise of successful operation for the proposed state bank or trust company. In determining whether an applicant meets the requirements of this subsection, the office shall consider all materially relevant factors, including: (a) The purpose, […]
658.36 – Changes in Capital.
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 office. Approval shall be withheld if the reduction will cause capital accounts to be less than the minimum required pursuant to the financial institutions codes. (2) A state […]
658.22 – Coordination With Federal Agencies.
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 to the appropriate federal regulatory agencies. The failure of an applicant to apply for membership in the Federal Reserve System or apply for the insurance of accounts […]
658.37 – Dividends and Surplus.
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 anticipated future losses on loans and other assets, may quarterly, semiannually, or annually declare a dividend of so much of the aggregate of the net profits of […]
658.23 – Submission of Articles of Incorporation; Contents; Form; Approval; Filing; Commencement of Corporate Existence; Bylaws.
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 the office, together with the filing fee due the Department of State under s. 607.0122. (2) The […]
658.38 – Deposit Insurance.
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; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 28, 151, 152, ch. 80-260; ss. 2, 3, ch. 81-318; s. 1, ch. 91-307; ss. 1, 122, ch. 92-303. […]