Online Sunshine Logo
Official Internet Site of the Florida Legislature
December 7, 2024
Text: 'NEW Advanced Legislative Search'
Interpreter Services for the Deaf and Hard of Hearing
Go to MyFlorida House
Go to MyFlorida House
Select Year:  
The Florida Statutes

The 2024 Florida Statutes

Title XXXVIII
BANKS AND BANKING
Chapter 658
BANKS AND TRUST COMPANIES
View Entire Chapter
F.S. 658.79
658.79 Taking possession of insolvent state banks or trust companies.Whenever the office has reason to conclude, based upon the reports furnished to it by a state bank or trust company examiner or upon other satisfactory evidence, that any state bank or trust company:
(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.