Title XXXVIII, Banks and Banking

Notwithstanding s. 607.01401(36), the provisions of part I of chapter 607 not in conflict with the financial institutions codes which relate to foreign corporations apply to all international banking corporations and their offices doing business in this state.History.—s. 1, ch. 7…

An international banking corporation or any affiliate, subsidiary, or other person or business entity acting as an agent for, on behalf of, or for the benefit of such international banking corporation who engages in such activities from an office located in this state, may not tr…

(1) Every international banking corporation, before being licensed by the office to maintain any office in this state, shall subscribe and acknowledge, and submit to the office, an application which shall contain:(a) The name of the international banking corporation.(b) The propo…

(1) To qualify for a license under this part, the proposed capitalization of the international banking corporation must be in such amount as the office determines is necessary, taking into consideration the risk profile of the international banking corporation and the ability of …

(1)(a) An international banking corporation licensed to operate an office in this state may engage in the business authorized by this part at the office specified in such license for an indefinite period.(b) An international banking corporation may operate more than one licensed …

If an international banking corporation proposes to acquire, merge, or consolidate with an international banking corporation that presently operates an international branch, international bank agency, international administrative office, or international representative office lic…

(1) An international bank agency licensed under this part may make any loan, extension of credit, or investment which it could make if incorporated and operating as a bank organized under the laws of this state. An international bank agency may act as custodian and may furnish in…

An international representative office may promote or assist the deposit-taking, lending, or other financial or banking activities of an international banking corporation. An international representative office may serve as a liaison in Florida between an international banking co…

(1) Subject to the provisions of this part, any international banking corporation may establish offices in this state for the purposes of:(a) Administering personnel and operations;(b) Engaging in data processing or record-keeping activities; and(c) Negotiating, approving, or ser…

(1) An international banking corporation that meets the requirements of ss. 658.26, 663.04, and 663.05 may, with the approval of the office, establish one or more branches in this state. The operations of an international branch shall be conducted pursuant to requirements determi…

(1) With the approval of the office, a Florida corporation may be formed for the purpose of engaging in international banking, lending, and other financial activities. A state-chartered investment company established pursuant to this section shall engage directly in only those ac…

(1) Each international bank agency and international branch shall:(a) Maintain with one or more banks insured by the Federal Deposit Insurance Corporation and located within the United States, in such amounts as the office specifies, evidence of dollar deposits or investment secu…

Before opening an office in this state, and annually thereafter so long as a bank office is maintained in this state, an international banking corporation licensed pursuant to ss. 663.01-663.14 shall certify to the office the amount of its capital accounts, expressed in the curre…

(1) The commission shall by rule prescribe the limits of drafts or bills of exchange which an international bank agency or branch may accept relative to the capital accounts of the international banking corporation. These limits shall take into account all transactions which are …

(1) An international banking corporation doing business in this state 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…

(1) An international banking corporation desiring to convert its existing federal agency or federal branch or Edge Act corporation into an international bank agency or international branch, or an Edge Act corporation which desires to convert to a state-chartered investment compan…

(1)(a) An international banking corporation that is licensed to maintain an office in this state may not continue to conduct its licensed business in this state if the international banking corporation:1. Is dissolved, or its authority or existence is otherwise terminated or canc…

(1) Each application for a license under this part must be accompanied by a nonrefundable filing fee payable to the office in the following amount:(a) Ten thousand dollars for establishing a state-chartered investment company.(b) Ten thousand dollars for establishing an internati…

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 banking corporations under this part, in the interest of protecting depositors, c…

If domestic or foreign travel is deemed necessary by the office to effectuate the purposes of this part, representatives of the office shall be reimbursed for actual, reasonable, and necessary expenses incurred in such domestic or foreign travel.History.—ss. 95, 152, ch. 80-260; …

As used in ss. 663.17-663.181, the term:(1) “Business and property in this state” includes, but is not limited to, all property of the international banking corporation, real, personal, or mixed, whether tangible or intangible:(a) Wherever situated, constituting a part of the bus…

(1) The office may, at its discretion, take possession of the business and property in this state of any international banking corporation that has been licensed to operate in this state upon finding that the corporation, or any of the corporation’s licensed offices operating in …

(1) Except as otherwise provided in this section, when the office has taken possession of the business and property in this state of an international banking corporation, or any of the corporation’s licensed offices located in this state, the office may assume or repudiate any co…

(1) Except as otherwise provided in this section, upon the repudiation or termination of any contract pursuant to s. 663.171, the liability of the office shall be limited to the actual direct compensatory damages of the parties to the contract, determined as of the date the offic…

A party to a qualified financial contract with an international banking corporation, possession of which has been taken by the office pursuant to s. 663.17, which party has a perfected security interest in collateral or other valid lien or security interest in collateral enforcea…

(1) If the office repudiates a lease of an international banking corporation, the real or personal property under which the corporation was a lessee, the lessor under such lease shall be entitled to file a claim with the office for the lesser of:(a) The amount designated as liqui…

(1) Except as provided in this section, the office’s taking of possession of any international banking corporation and the liquidation of the corporation shall operate as a stay of and as an injunction against, as of the date the office takes possession of the corporation and app…

When the office has taken possession of an international banking corporation and has determined to liquidate the corporation’s affairs, the office shall notify all persons who may have claims against the corporation to present such claims to the office and make proper proof of su…

(1) The office may, after it has taken possession of the business and property of an international banking corporation, send a written notice by registered mail to each person claiming, or appearing upon the books of the corporation, to be:(a) The owner of any personal property i…

(1) Proof of claim shall consist of a written statement under oath signed by the claimant or his or her attorney in fact and shall be in such form as the office requires.(2) The office shall not accept a claim based on an agreement with an international banking corporation unless…

The office is not required to pay any fee to any clerk, sheriff, register, or other public officer for entering, filing, docketing, registering, recording, executing, or issuing a copy, transcript, extract, or certificate of, or authenticating or exemplifying, any paper, record, …

At any time within 10 days after the office has taken possession of the property and business of an international banking corporation, such corporation may apply to a court of competent jurisdiction in the county in which its principal office is located in this state for an order…

(1) As used in this part:(a) “International development bank” means a corporation established for the purpose of promoting development in foreign countries by directly or indirectly making funding available to foreign business enterprises or foreign governments or by providing fi…

(1)(a) International development banks shall be subject to the following provisions of chapter 655 as though such international development banks were state banks:1. Section 655.005, relating to definitions.2. Section 655.012, relating to general supervisory powers of the office.…

When authorized by the office as provided herein, a corporation may be formed under the laws of this state for the purpose of becoming an international development bank and engaging in activities authorized by this part.History.—ss. 1, 5, ch. 86-82; s. 1, ch. 91-307; s. 1, ch. 92…

(1) A written application for authority to organize an international development bank shall be filed with the office by the proposed incorporator and shall include:(a) The name, residence, and occupation of each incorporator and proposed director.(b) The total initial capital and…

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…

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 c…

(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 …

(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 c…

(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 pr…

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…

(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 …

(1) No international development bank shall reduce its outstanding capital stock without first obtaining the approval of the office, and such approval shall be withheld if the reduction would cause the outstanding capital stock to be less than the minimum required pursuant to s. …

(1) At least a majority of the shares of stock of an international development bank organized under chapter 617 as a corporation not for profit shall be owned by one or more domestic or foreign not-for-profit entities.(2) Subject to the limitations contained in subsections (1) an…

(1) An international development bank shall be subject to the provisions of s. 658.48, relating to loans, in the same manner and to the same extent as a state bank.(2) Notwithstanding the provisions of subsection (1), an international development bank organized under chapter 617 …