(1) Is insolvent or imminently insolvent; or
(2) Is transacting its business in an unsound, unsafe, or unauthorized manner such that it is threatened with imminent insolvency,
the office may, in its discretion, forthwith designate and appoint a liquidator or receiver to take charge of the assets and affairs of such bank or trust company and require of him or her such bond and security as the office deems proper, not exceeding double the amount that may come into his or her hands. The office may enlist the services of any state or local law enforcement agency in taking possession and securing the assets of the bank or trust company.
History.—ss. 102, 152, ch. 80-260; ss. 2, 3, ch. 81-318; s. 1, ch. 91-307; ss. 1, 136, ch. 92-303; s. 541, ch. 97-102; s. 1796, 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.