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Can you summarize FLCL Chapter 655?
BANKS AND BANKING > FINANCIAL INSTITUTIONS GENERALLY
Short Summary
The provided legal document governs the regulation of financial institutions in Florida. It applies to all state-authorized or state-chartered financial institutions. The document aims to ensure the safe and sound conduct of financial institution businesses, conserve their assets, maintain public confidence, protect the interests of the public, depositors, and creditors, and promote competition among financial institutions. It also aims to facilitate effective customer service, economic progress, and welfare, while allowing financial institution management to exercise business judgment within the framework of the codes. The document provides definitions for various terms used in the financial institutions codes and grants the office general supervision over all state financial institutions. It also establishes the proper location for service of process upon a financial institution. The document outlines the powers and procedures related to investigations, subpoenas, hearings, and witnesses in the context of financial institutions. It prohibits counties and municipalities from enacting or enforcing resolutions, ordinances, or rules that regulate financial or lending activities. The document also governs the disapproval of directors and executive officers in state financial institutions. It establishes the standards to be observed by the commission and office in the exercise of their discretionary powers under the financial institutions codes. Overall, the document provides a comprehensive framework for the regulation and operation of financial institutions in Florida.
Whom does it apply to?
State-authorized or state-chartered financial institutions
What does it govern?
The regulation of financial institutions in Florida
What are exemptions?
No specific exemptions are mentioned in this document
What are the Penalties?
No specific penalties are mentioned in this document
Jurisdiction
Florida