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 […]
663.317 – 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.
663.318 – 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. […]
663.305 – Investigation by the office.
663.305 Investigation by the office.—Upon the filing of an application, the office shall make an investigation of such matters as it may deem appropriate, including the character, reputation, financial standing, business experience, and business qualifications of the proposed officers and directors. History.—ss. 1, 5, ch. 86-82; s. 1, ch. 91-307; s. 1, ch. 92-303; s. 1848, […]
663.306 – Decision by office.
663.306 Decision by office.—The office may, in its discretion, approve or disapprove the application, but it shall not approve the application unless it finds that: (1) International business in this state will be promoted by the establishment of the proposed international development bank. (2) The proposed capital structure is adequate, but in no case may the paid-in capital […]
663.307 – Name.
663.307 Name.— (1) The name of every international development bank shall include the words “Development Bank.” The use of the words “National,” “Federal,” “United States,” “Insured,” or “Guaranteed,” separately or in any combination thereof with other words or syllables, is prohibited as part of the corporate name of an international development bank unless authorized by federal law. […]
663.308 – Place of transacting business; branches.
663.308 Place of transacting business; branches.— (1) An international development bank operating pursuant to this part shall have one principal place of doing business. (2) An international development bank may establish branches in foreign countries with the approval of the appropriate governmental authorities in such foreign countries. An international development bank shall give the office written notice of […]
663.309 – Permissible activities; prohibited activities.
663.309 Permissible activities; prohibited activities.— (1) An international development bank shall have the authority: (a) To make loans or otherwise extend credit to foreign business enterprises and foreign governments and to issue and confirm letters of credit, create bankers acceptances, and provide guarantees for the purpose of providing financing to foreign business enterprises and foreign governments; (b) To provide […]
663.310 – Directors.
663.310 Directors.—The board of directors of an international development bank shall consist of not less than five directors who are elected, unless appointed to fill a vacancy, at the annual meeting of shareholders or at a special meeting. However, if so authorized by the articles of incorporation, a majority of the full board of directors may, […]
663.311 – Shares of stock.
663.311 Shares of stock.— (1) An international development bank shall issue capital stock with par value of not more than $1 per share. (2) No international development bank shall issue any shares of capital stock before they are fully paid. (3) With the approval of the office, an international development bank may issue less than all of the number […]