(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 bank may issue less than all of the number of shares of capital stock authorized by its articles of incorporation; provided that such authorized but unissued shares may be issued only to increase the capital of the international development bank with the approval of the office.
History.—ss. 1, 5, ch. 86-82; s. 1, ch. 91-307; s. 1, ch. 92-303; s. 1852, ch. 2003-261.
Structure Florida Statutes
Title XXXVIII - Banks and Banking
Chapter 663 - International Banking
Part II - International Development Banks (Ss. 663.301-663.318)
663.302 - Applicability of state banking laws.
663.303 - Creation of an international development bank.
663.304 - Application for authority to organize an international development bank.
663.305 - Investigation by the office.
663.308 - Place of transacting business; branches.
663.309 - Permissible activities; prohibited activities.
663.316 - Borrowing; capital accounts.
663.317 - Foreign currency lending, borrowing, and deposits.