658.51 – Banks Authorized to Make Commodity Loans.
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 notes or drafts secured by shipping documents, warehouse receipts, or other such documents transferring or securing title covering readily marketable nonperishable staples when such […]
658.53 – Borrowing; Limits of Indebtedness.
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 money and issue evidences of indebtedness for a loan for temporary purposes in the usual course of its business. (2) A state bank may at any time, […]
658.60 – Depositories of Public Moneys and Pledge of Assets.
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 perform such reasonable duties as such depositories and financial agents as may be required of them. Banks so designated shall give satisfactory […]
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 […]
658.82 – Receiver; Powers and Duties.
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 to its rules and regulations. (2) Any other receiver appointed pursuant to s. 658.80 shall be subject to the supervision of the office and shall have the […]