Ask Reggi Your Question Now
Can you summarize Florida Administrative Code > BANKS, TRUST COMPANIES, SAVINGS BANKS AND ASSOCIATIONS?
Florida Administrative Code > BANKS, TRUST COMPANIES, SAVINGS BANKS AND ASSOCIATIONS
Short Summary
The provided legal document content covers various aspects related to banks, trust companies, savings banks, and associations. It includes requirements for state banks and trust companies to file a list of stockholders upon demand by the Office of Financial Regulation (OFR). The document also outlines criteria for loans secured by secondary liens on real estate, including documentation requirements and limitations on loan maturity. Additionally, it allows state banks to purchase leases covering specified goods, subject to certain conditions and limitations. The document also addresses undivided profits for loan and investment purposes, obligations to repurchase certain securities sold, investment characteristics of securities, internal audit procedures, filing of financial reports, investments/deposits in foreign banks, daily liquidity, and assessments to be paid by state banks and state trust companies. The documents apply to state banks, trust companies, savings banks, associations, officers, directors, employees, federal financial institutions examination council, and the office of financial regulation. No specific exemptions or penalties are mentioned in the documents.
Whom does it apply to?
State banks, trust companies, savings banks, associations, officers, directors, employees, federal financial institutions examination council, office of financial regulation
What does it govern?
Stockholders list, loans secured by secondary liens on real estate, purchase of leases covering specified goods, undivided profits for loan and investment purposes, obligations to repurchase certain securities sold, investment characteristics of securities, internal audit procedures, filing of financial reports, investments/deposits in foreign banks, daily liquidity, assessments to be paid by state banks and state trust companies
What are exemptions?
No specific exemptions are mentioned in the documents.
What are the Penalties?
No specific penalties are mentioned in the documents.
Jurisdiction
Florida