(1) At least a majority of the shares of stock of an international development bank organized under chapter 617 as a corporation not for profit shall be owned by one or more domestic or foreign not-for-profit entities.
(2) Subject to the limitations contained in subsections (1) and (3), shares of stock of an international development bank organized under chapter 617 as a corporation not for profit may be owned by domestic or foreign international for-profit business entities.
(3) A for-profit business entity shall not own more than 10 percent of the shares of stock of an international development bank organized under chapter 617 as a corporation not for profit.
(4) All of the shares of voting stock of an international development bank organized under part I of chapter 607 as a corporation for profit shall be owned by a regional development bank or by one or more wholly owned subsidiaries of a regional development bank.
History.—ss. 1, 5, ch. 86-82; s. 5, ch. 89-110; s. 1, ch. 91-307; s. 1, ch. 92-303; s. 68, ch. 2014-209.
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.