663.4081 – After-the-fact licensure process in the event of the acquisition, merger, or consolidation of international trust entities.
663.4081 After-the-fact licensure process in the event of the acquisition, merger, or consolidation of international trust entities.—If an international trust entity proposes to acquire, merge, or consolidate with an international trust entity that presently operates an international trust company representative office licensed in this state, the office may allow the currently licensed international trust company representative […]
663.409 – International trust company representative offices; permissible activities; requirements.
663.409 International trust company representative offices; permissible activities; requirements.— (1) An international trust company representative office may conduct any nonfiduciary activities that are ancillary to the fiduciary business of its international trust entity, but may not act as a fiduciary. Permissible activities include advertising, marketing, and soliciting for fiduciary business on behalf of an international trust entity; […]
663.410 – Certification of capital accounts.
663.410 Certification of capital accounts.—Before opening an office in this state, and annually thereafter so long as an international trust company representative office is maintained in this state, an international trust entity licensed pursuant to this part must certify to the office the amount of its capital accounts, expressed in the currency of the home jurisdiction […]
663.411 – Reports; records.
663.411 Reports; records.— (1) An international trust entity that operates an office licensed under this part shall, at such times and in such form as the commission prescribes, make written reports in the English language to the office, under the oath of one of its officers, managers, or agents transacting business in this state, showing the amount […]
663.316 – Borrowing; capital accounts.
663.316 Borrowing; capital accounts.— (1) An international development bank may borrow money and issue evidences of indebtedness in connection therewith. (2) An international development bank shall have capital accounts in an amount equal to not less than 8 percent of its aggregate deposits. However, the commission by rule may increase the required amount of capital accounts to not […]
663.412 – Termination of international trust entity’s charter or authority.
663.412 Termination of international trust entity’s charter or authority.— (1)(a) An international trust entity that is licensed to maintain an office in this state may not continue to conduct its licensed business in this state if the international trust entity: 1. Is dissolved, or its authority or existence is otherwise terminated or canceled in the home jurisdiction where […]
663.317 – Foreign currency lending, borrowing, and deposits.
663.317 Foreign currency lending, borrowing, and deposits.—An international development bank may make loans and other extensions of credit denominated in foreign currencies and may borrow funds and accept deposits denominated in foreign currencies. History.—ss. 1, 5, ch. 86-82; s. 8, ch. 89-110; s. 1, ch. 91-307; s. 1, ch. 92-303.
663.413 – Application and examination fees.
663.413 Application and examination fees.— (1) An application for a license to establish an international trust company representative office under this part must be accompanied by a nonrefundable $5,000 filing fee, payable to the office. (2) An international trust entity that maintains an office licensed under this part must pay to the office examination fees that are determined […]
663.318 – Reserve requirements.
663.318 Reserve requirements.— (1) An international development bank shall establish and maintain adequate loan loss reserves. (2) An international development bank organized under chapter 617 as a corporation not for profit shall not be required to establish or maintain any reserves with respect to its liabilities. History.—ss. 1, 5, ch. 86-82; s. 9, ch. 89-110; s. 1, ch. […]
663.414 – Rules; exemption from statement of estimated regulatory costs requirements.
663.414 Rules; exemption from statement of estimated regulatory costs requirements.—In addition to any other rulemaking authority it has under the financial institutions codes, the commission may adopt reasonable rules that it deems advisable for the administration of international trust entities under this part in the interest of protecting depositors, creditors, borrowers, or the public interest and […]