(1) No international development bank shall reduce its outstanding capital stock without first obtaining the approval of the office, and such approval shall be withheld if the reduction would cause the outstanding capital stock to be less than the minimum required pursuant to s. 663.306(2) or if the reduction would cause the international development bank’s capital accounts to be less than the minimum required by s. 663.316(2).
(2) An international development bank may, with the approval of the office, provide for an increase in its capital.
History.—ss. 1, 5, ch. 86-82; s. 1, ch. 91-307; s. 1, ch. 92-303; s. 1853, 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.