(1) A bank or trust company corporation shall open and conduct a general commercial bank or trust business no later than 12 months after the commencement of its corporate existence.
(2) At least 30 days prior to its intended opening date, the corporation shall notify the office of its proposed opening date and confirm its compliance with all conditions imposed in the order or orders issued by the office relating to its organization.
(3) The office shall perform a preopening examination to verify good faith compliance with all the requirements of law and that the bank or trust company corporation is ready to engage in a general commercial bank or trust business. If the office finds that such requirements have been met, it shall issue a certificate of authorization to transact a general commercial bank or trust business. Upon the issuance of the certificate of authorization, the bank or trust company corporation shall become a state bank or a state trust company and the certificate shall constitute its charter.
(4) Upon opening for business, a bank or trust company shall have power to engage in a general commercial bank or trust business and to exercise, subject to law, all such incidental powers as may reasonably promote its general commercial bank or trust business.
History.—ss. 15, 152, ch. 80-260; ss. 2, 3, ch. 81-318; ss. 24, 51, ch. 84-216; ss. 33, 58, ch. 85-82; s. 14, ch. 89-229; s. 1, ch. 91-307; ss. 1, 110, ch. 92-303; s. 13, ch. 2001-243; s. 1770, ch. 2003-261.
Structure Florida Statutes
Title XXXVIII - Banks and Banking
Chapter 658 - Banks and Trust Companies
658.16 - Creation of Banking or Trust Corporation.
658.165 - Banker’s Banks; Formation; Applicability of Financial Institutions Codes; Exceptions.
658.19 - Application for Authority to Organize a Bank or Trust Company.
658.20 - Investigation by Office.
658.21 - Approval of Application; Findings Required.
658.22 - Coordination With Federal Agencies.
658.235 - Subscriptions for Stock; Approval of Major Shareholders.
658.24 - Organizational Procedures.
658.25 - Opening for Business.
658.26 - Places of Transacting Business; Branches; Facilities.
658.27 - Control of Bank or Trust Company; Definitions and Related Provisions.
658.28 - Acquisition of Control of a Bank or Trust Company.
658.285 - Acquisition or Ownership of State Banks by International Banking Corporations.
658.2953 - Interstate Branching.
658.30 - Application of the Florida Business Corporation Act.
658.33 - Directors, Number, Qualifications; Officers.
658.34 - Shares of Capital Stock.
658.35 - Share Options; Warrants.
658.37 - Dividends and Surplus.
658.39 - Stockholders; Examination of Records.
658.40 - Definitions for Merger and Consolidation.
658.41 - Merger; Resulting State or National Bank.
658.42 - Plan of Merger and Merger Agreement.
658.43 - Approval by Office; Valuation of Assets; Emergency Action.
658.44 - Approval by Stockholders; Rights of Dissenters; Preemptive Rights.
658.45 - Certificate of Merger and Effective Date; Effect on Charters and Powers.
658.491 - Commercial Loans by Financial Institutions.
658.51 - Banks Authorized to Make Commodity Loans.
658.53 - Borrowing; Limits of Indebtedness.
658.60 - Depositories of Public Moneys and Pledge of Assets.
658.67 - Investment Powers and Limitations.
658.73 - Fees and Assessments.
658.79 - Taking Possession of Insolvent State Banks or Trust Companies.
658.80 - Appointment of Receiver or Liquidator.
658.81 - Office Action; Notice and Court Confirmation.
658.82 - Receiver; Powers and Duties.
658.83 - Liquidator; Powers and Duties.
658.84 - Transfers by Banks and Other Acts in Contemplation of Insolvency.
658.90 - Receivers or Liquidators Under Supervision of Office.
658.94 - Prima Facie Evidence.
658.95 - Voluntary Liquidation.