reglab/statecodes huggingface dataset:
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69U - FSC - Financial Institution Regulation › Chapter 69U-100 - FINANCIAL INSTITUTIONS GENERALLY › Section 69U-100.600 - Appraisals, and Appraisal Standards and Policies of State Financial Institutions

Current through Reg. 50, No. 138; July 16, 2024
(1) The board of
				directors of each state financial institution shall adopt appraisal standards
				and policies. Such standards and policies shall be reviewed and approved
				annually by the board of directors and such approval shall be recorded in the
				minutes of the meetings of the board of directors.
(2) At a minimum, the appraisal standards and
				policies shall require that an appraisal prepared by a state-certified or
				state-licensed appraiser must be obtained prior to funding any loan or
				extension of credit that is based on the security of real estate, except:
(a) Loans with a total value of $400,000 or
				less;
(b) Loans with a lien on real
				property when such property has been taken as collateral solely in an abundance
				of caution;
(c) When a lien on real
				estate has been taken for purposes other than the real estate's
				value;
(d) The transaction is a
				business loan that:
1. Has a transaction value
				of $1 million or less; and,
2. Is
				not dependent on the sale of, or rental income derived from, real estate as the
				primary source of repayment;
(e) A lease of real estate, unless the lease
				is the economic equivalent of a purchase or sale of the leased real
				estate;
(f) The transaction
				involves an existing extension of credit at the lending institution, provided
				that:
1. There has been no obvious and
				material deterioration in market conditions or physical aspects of the property
				that would threaten the institution's collateral protection after the
				transaction, even with the advancement of new monies; or
2. There is no advancement of new monies,
				other than funds necessary to cover reasonable closing
				costs;
(g) The
				transaction involves the purchase, sale, investment in, exchange of, or
				extension of credit secured by, a loan or interest in a loan, pooled loans, or
				interests in real property, including mortgage-backed securities, and each loan
				or interest in a loan, pooled loan, or real property interest met these
				appraisal requirements at the time of origination;
(h) The transaction is wholly or partially
				insured or guaranteed by a United States government agency or United States
				government-sponsored agency; or
(i)
				The transaction either:
1. Qualifies for sale
				to a United States government agency or United States government-sponsored
				agency; or
2. Involves a
				residential real estate transaction in which the appraisal conforms to the
				Federal National Mortgage Association or Federal Home Loan Mortgage Corporation
				appraisal standards applicable to that category of real
				estate.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69U - FSC - Financial Institution Regulation › Chapter 69U-100 - FINANCIAL INSTITUTIONS GENERALLY › Section 69U-100.948 - Reporting of Significant Events or Conditions

Current through Reg. 50, No. 138; July 16, 2024
(1) Section
				655.948, F.S., requires state
				financial institutions, not exempted by OFR, to report the occurrence of
				certain conditions or events within 30 days of the occurrence of the condition
				or event. Aggregate monthly reports that are received by OFR by the 10th day of
				each month, covering all reportable events or occurrences that occurred during
				the previous month, will satisfy the reporting requirements of Section
				655.948, F.S. All reports
				required by this rule shall be submitted by U.S. Mail or Email to: Director,
				Division of Financial Institutions, Office of Financial Regulation, 200 East
				Gaines Street, Tallahassee, Florida 32399-0371,
				OFRFinancialInstitutions@flofr.gov. A report will not be required if a
				reportable event or condition did not occur during the previous
				month.
(2)
(a) "Operating in a safe and sound manner"
				shall mean any state financial institution operating with a composite rating of
				"1," "2," or "3," and with a management rating of "1," or "2," in its most
				recent safety and soundness report of examination or, in the case of a trust
				company, its most recent trust report of examination, and which is not subject
				to a State or Federal regulatory action. For purposes of this section
				"regulatory action" shall include cease and desist orders, written agreements,
				memoranda of understanding, letters of understanding and agreement, and any
				other equivalent action initiated by a financial institution regulator.
				(Examination ratings are based on the Federal Financial Institutions
				Examinations Council's Uniform Interagency Trust Rating System and Uniform
				Financial Institutions Rating System, often called the CAMELS rating
				system.)
(b) Other financial
				institutions may request a determination that they are operating in a safe and
				sound manner by writing to the Director of the Division of Financial
				Institutions, Office of Financial Regulation detailing why the institution
				believes it is operating in a safe and sound manner. Any such request must
				include supporting documentation of improvements in the institution and its
				operations. The request shall be approved only when OFR concludes that, because
				of the documented improvements, the institution would be rated "1," "2," or
				"3," with a management rating of "1," or "2," were a safety and soundness
				examination conducted on the date of the institution's request. For example,
				the Director of the Division of Financial Institutions, Office of Financial
				Regulation may approve a request from an institution that was poorly rated in
				its last safety and soundness examination because of inadequate capital if the
				institution documents that it increased capital sufficiently to address the
				inadequacy.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69U - FSC - Financial Institution Regulation › Chapter 69U-100 - FINANCIAL INSTITUTIONS GENERALLY › Section 69U-100.956 - Conflict of Interest Policy

Current through Reg. 50, No. 138; July 16, 2024
(1)
				Definitions. - As used in this rule, the following definitions shall apply:
(a) "Regulatory employee" shall mean all
				employees of OFR who have direct regulatory authority over the Florida
				Financial Institution Codes, including the authority to overrule the actions or
				decisions of professional examination or legal staff in the exercise of their
				duties under the Financial Institution Codes.
(b) "OFR" means the Office of Financial
				Regulation.
(c) "Family
				relationship" means any individual who is the regulatory employee's: father,
				mother, son, daughter, brother, sister, uncle, aunt, first cousin, nephew,
				niece, husband, wife, father-in-law, mother-in-law, son-in-law,
				daughter-in-law, brother-in-law, sister-in-law, stepfather, stepmother,
				stepson, stepdaughter, stepsister, stepbrother, half brother, half sister,
				grandparent, great-grandparent, grandchild, great-grandchild, step-grandparent,
				step-great-grandparent, step-grandchild, step-great-grandchild, person who is
				engaged to be married to the regulatory employee or who otherwise holds himself
				or herself out as or is generally known as the person to whom the regulatory
				employee intends to marry or with whom the regulatory employee intends to form
				a household, or any other natural person having the same legal residence as the
				regulatory employee.
(d) "Nominal
				intrinsic value" means a rebuttable presumption that an item, food, or
				refreshment is symbolic and of minimum value when such item, food, or
				refreshment is available in the market to a retail purchaser for $25.00 or
				less.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69U - FSC - Financial Institution Regulation › Chapter 69U-100 - FINANCIAL INSTITUTIONS GENERALLY › Section 69U-100.963 - Automated Teller Machines and the Disclosure of Safety Information

Current through Reg. 50, No. 138; July 16, 2024
(1) As used in Rule 69U-100.963, F.A.C.,
				unless the context otherwise requires, the term:
(a) "Access device" has the same meaning as
				set forth in Federal Reserve Board Regulation E, 12 C.F.R., part 205,
				promulgated pursuant to the Electronic Fund Transfer Act,
				15 U.S.C. §§
											1601 et seq.
(b) "Automated teller machine" means any
				electronic information processing device located in this state which accepts or
				dispenses cash in connection with a credit, deposit, checking, or convenience
				account. The term does not include devices used solely to facilitate check
				guarantees or check authorizations which are used in connection with the
				acceptance or dispensing of cash on a person-to-person basis, such as by a
				store cashier.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69U - FSC - Financial Institution Regulation › Chapter 69U-100 - FINANCIAL INSTITUTIONS GENERALLY › Section 69U-100.964 - Transactions Relating to Iran or Terrorism

Current through Reg. 50, No. 138; July 16, 2024
Florida state-chartered financial institutions shall comply
				  with the federal standards set out by the U.S. Treasury Department, Office of
				  Foreign Assets Control, in 31 C.F.R. Part 561, Subparts B, C, and D (7-1-2019
				  Edition), as amended at 84 Fed. Reg. 38545 (Aug. 7, 2019),
http://www.flrules.org/Gateway/reference.asp?No=Ref-12614
,
				  which are adopted and incorporated by reference, as the minimum standards for
				  due diligence policies, procedures, and controls as required by Section
				  655.968, F.S. The standards are
				  also available at the OFR's website,
www.flofr.gov
.
Rulemaking Authority 655.012(2), 655.968 FS. Law
					 Implemented 655.968 FS.
New 8-6-12, Amended
					 1-18-21.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69U - FSC - Financial Institution Regulation › Chapter 69U-105 - LICENSING AND CHARTERING OF FINANCIAL INSTITUTIONS › Section 69U-105.001 - Definitions

Current through Reg. 50, No. 138; July 16, 2024
For the purposes of this rule chapter, the following
				  definitions shall apply:
(1)
				"Applicant" means the proposed state financial institution, acting by order of
				the proposed Board of Directors through its correspondent; or, if opened, the
				state financial institution on behalf of which the application or notice is
				being filed.
(2) "Correspondent"
				means the person designated by the proposed Board of Directors to act on their
				behalf in all matters required to process the application, as more fully
				specified in the certificate contained in the application.
(3) "Department" means the Office of
				Financial Regulation.
(4)
				"Establish" means open for business.
(5) "Federal financial institution" means a
				federally or nationally chartered or organized bank, savings bank, trust
				company or association.
(6)
				"Financial entity" means an association, bank, credit union, savings bank, Edge
				Act or agreement corporation, or trust company organized under the laws of this
				state or organized under the laws of the United States and having its principal
				place of business in this state.
(7) "Major shareholder" means any person
				subscribing to 10 percent or more of the voting stock or nonvoting stock which
				is convertible into voting stock of the proposed state financial
				institution.
(8) "Metropolitan
				area" means any county designated by the United States Office of Management and
				Budget as being within a metropolitan statistical area (MSA). An MSA is a
				geographic area with a large population nucleus together with adjacent
				communities which have a high degree of economic and social integration with
				that nucleus.
(9) "Primary Service
				Area" means the smallest geographical area from which the proposed state bank,
				savings bank or association expects to draw approximately seventy-five percent
				of its deposits. Said term also means the smallest geographical area from which
				a state trust company expects to draw approximately 75 percent of the asset
				value of its fiduciary accounts. It should be drawn around a natural customer
				base and should not be unrealistically delineated to exclude competing
				financial institutions or to include areas of concentrated
				population.
(10) "State financial
				institution" means a state-chartered bank, savings bank, trust company or
				association organized under the laws of this state.
(11) "Temporary quarters" means the physical
				structure in which the state financial institution will be housed pending
				completion of the permanent structure.
Rulemaking Authority 655.012(3) FS. Law Implemented
					 655.013, 655.015, 658.19 FS.
New 4-15-98, Formerly
					 3C-105.001.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69U - FSC - Financial Institution Regulation › Chapter 69U-105 - LICENSING AND CHARTERING OF FINANCIAL INSTITUTIONS › Section 69U-105.101 - Scope

Current through Reg. 50, No. 138; July 16, 2024
These rules contain procedures which shall govern all actions
				  taken by and proceedings held before OFR in connection with its responsibility
				  to process applications for the issuance, denial, renewal, or amendment of
				  licenses and mergers pursuant to titles XXXVI and XXXVIII, Florida Statutes. In
				  no case, however, shall rules 69U-105.200 through
				  69U-105.610, F.A.C., apply to
				  state chartered credit unions operating pursuant to chapter 657, F.S. The
				  following procedures provide a method by which all interested persons may
				  present evidence on the record prior to the formulation of a final OFR order.
				  This chapter shall govern in any case where there is a conflict or
				  inconsistency with other rules of the Financial Services Commission or the
				  Uniform Rules of Procedures adopted by the Administration Commission.
				  Proceedings not heard by the agency head shall be transferred to the Division
				  of Administrative Hearings pursuant to sections
				  120.569 and
				  120.57, F.S.
Rulemaking Authority 655.012(3) FS. Law Implemented
					 120.80(3), 658.19, 658.20, 658.21, 658.22, 658.23, 658.26
					 FS.
New 11-1-77, Amended 8-3-78, 5-27-81, Formerly 3C-9.01,
					 3C-9.001, Amended 8-14-94, 11-1-94, 4-15-98, Formerly
					 3C-105.101.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69U - FSC - Financial Institution Regulation › Chapter 69U-105 - LICENSING AND CHARTERING OF FINANCIAL INSTITUTIONS › Section 69U-105.102 - Application

Current through Reg. 50, No. 138; July 16, 2024
(1) The following application forms are
				hereby incorporated by reference.
(a) Form
				OFR-U-1, Application for Authority to Organize a Bank, Savings Bank or
				Association, Revised 3/2003.
(b)
				Form OFR-U-28, Application for Authority to Organize a Trust Company, Revised
				3/2003.
(c) Form OFR-U-10,
				Interagency Biographical and Financial Report, Revised 3/2003.
(d) Form OFR-U-16A, Application for Authority
				to Establish a Branch Office, Revised 11/97 (short form).
(e) Form OFR-U-16, Application for Authority
				to Establish a Branch Office, Revised 3/2003 (long form).
(f) Form OFR-U-12, Application for Authority
				to Relocate an Office, Effective 11/9, Revised 3/2003.
(g) Form OFR-U-15, Application for Authority
				to Exercise Trust Powers, Revised 3/2003.
(h) Form OFR-U-17, Application and Plan for
				the Purchase of Assets and Assumption of Liabilities, effective 1/2018,
https://www.flrules.org/Gateway/reference.asp?No=Ref-08789
.
(i) Form OFR-U-19, Application for Approval
				to Merge or Consolidate a Bank, Trust Company or Association, effective 1/2018,
https://www.flrules.org/Gateway/reference.asp?No=Ref-08790
.
(j) Form OFR-U-19A, Application for Authority
				to Organize a Successor Institution, Revised 3/2003.
(k) Form OFR-U-4, Application and Plan of
				Conversion, effective 1/2018,
https://www.flrules.org/Gateway/reference.asp?No=Ref-08788
.
(l) Form OFR-U-11, Application for
				Certificate of Approval to Purchase or Acquire a Controlling Interest in a
				State Bank or Trust Company, Revised 3/2003.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69U - FSC - Financial Institution Regulation › Chapter 69U-105 - LICENSING AND CHARTERING OF FINANCIAL INSTITUTIONS › Section 69U-105.103 - Publication of Notice of Receipt or Withdrawal of Application

Current through Reg. 50, No. 138; July 16, 2024
(1) When required, OFR shall publish notice
				of receipt of each application in the Florida Administrative Register within 21
				days of its receipt. The notice shall identify the applicant, the subject of
				the application, the proposed location of the requested license action (if
				appropriate), the date received, the time within which to request a public
				hearing, and reference to the rule describing procedures for requesting such a
				hearing.
(2) Where OFR determines
				more specific notice is desirable to reach potentially affected persons, it
				shall require the applicant to publish notice of filing the application in one
				or more newspapers of general circulation in the affected area or in any other
				manner which would reasonably communicate the notice.
(3) The applicant may withdraw the
				application at any time by filing a written notice of withdrawal from the
				correspondent as designated on the application form with OFR. OFR shall publish
				notice of the withdrawal within 21 days of its receipt, if the original
				application required public notice.
Rulemaking Authority 120.53(1)(a), 655.012(3) FS. Law
					 Implemented 120.53(1)(c), 120.60(5), 658.21, 658.26
					 FS.
New 11-1-77, Amended 5-27-81, 3-28-83, Formerly 3C-9.03,
					 3C-9.003, Amended 8-14-94, Formerly
					 3C-105.103.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69U - FSC - Financial Institution Regulation › Chapter 69U-105 - LICENSING AND CHARTERING OF FINANCIAL INSTITUTIONS › Section 69U-105.104 - Petition for Public Hearing

Current through Reg. 50, No. 138; July 16, 2024
(1) A
				petition for public hearing may be combined with a notice of intention to
				appear (which is a requirement for a person to become a party) as provided in
				subsection 69U-105.106(3),
				F.A.C. Any person may request a public hearing by filing a petition with OFR
				within 21 days of publication of notice, provided however, that no petition
				shall be complete unless it shall:
(a) Be
				printed, typewritten, duplicated, or otherwise in legible form on paper of
				either standard legal or letter size;
(b) Clearly identify the applicant, and the
				application on which the hearing is requested;
(c) Contain the name, address, and telephone
				number of the petitioners;
(d)
				Contain a concise statement of whether the petitioner has an interest in the
				application, and, if so, a statement identifying such interest, the grounds and
				basis of objection to the application, and such other information that the
				petitioner contends is material;
(e) Contain the signature of the petitioner
				or petitioner's attorney and the date the petition is signed; and,
(f) Clearly show that a copy of the petition
				has been sent to the applicant or the applicant's
				correspondent.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69U - FSC - Financial Institution Regulation › Chapter 69U-105 - LICENSING AND CHARTERING OF FINANCIAL INSTITUTIONS › Section 69U-105.105 - Publication of Notice of Hearing

Current through Reg. 50, No. 138; July 16, 2024
(1) The
				applicant shall, no more than 21 nor less than 14 days prior to the scheduled
				hearing, publish one time in a newspaper of general circulation in the
				community in which the applicant proposes to engage in business, a notice
				containing the name or names of the applicant, the subject matter of the
				application, the location at which the applicant proposes to engage in business
				and the date, time, and place of the hearing. The notice shall include a
				statement that the hearing is open to members of the general public and shall
				not be published in a specialized paper which caters only to the publication of
				legal notices or business news. The minimum notice size shall be 2 columns by 2
				inches, with no type less than 8 point and shall be placed as a
				run-of-the-paper ad. The name of the applicant shall appear in bold
				face.
(2) Immediately after
				publication, the applicant shall furnish OFR and all other parties with a
				certification from the publisher and a tear sheet or clipping evidencing such
				publication.
Rulemaking Authority 120.53(1)(a), 655.012(3) FS. Law
					 Implemented 120.53(1)(c), 120.60(5), 655.012
					 FS.
New 11-1-77, Amended 8-3-78, 5-27-81, Formerly 3C-9.05,
					 3C-9.005, Amended 8-14-94, Formerly
					 3C-105.105.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69U - FSC - Financial Institution Regulation › Chapter 69U-105 - LICENSING AND CHARTERING OF FINANCIAL INSTITUTIONS › Section 69U-105.106 - Participants in Proceeding

Current through Reg. 50, No. 138; July 16, 2024
(1) Applicant.
				The applicant for any license processed under this chapter shall be a party to
				any hearing and to any further proceedings on the application. The applicant
				may withdraw the application at any time by filing a notice of withdrawal on
				the record. Withdrawal shall terminate proceedings on the
				application.
(2) Office of
				Financial Regulation. OFR shall be a party to all proceedings conducted
				pursuant to this chapter.
(3) Where
				Substantial Interests Will Be Affected. The petitioner, if other than the
				applicant or OFR, and any other person whose substantial interest will be
				affected by OFR's decision on the application may become a party by filing
				written notice with OFR of intention to appear and serving a copy of the notice
				on the applicant. The notice must be received no later than 21 days after
				publication of the notice of receipt of the application and shall contain:
(a) The name, mailing address, and telephone
				number of the person and, if applicable, the name, mailing address, and
				telephone number of the attorney representing the person;
(b) A full and clear statement of the grounds
				upon which the person bases the claim that its substantial interest will be
				affected by decision on the application;
(c) An accurate description of the applicant
				and application involved; and,
(d)
				The signature of the person or the person's attorney and the date the notice is
				signed.
Within 10 days of the receipt of the notice of intention to
				  appear, OFR shall acknowledge receipt of the notice and determine whether the
				  person's substantial interests will be affected by OFR's action on the
				  application. Any person whose substantial interests will be affected and who
				  desires to become a party to a pending proceeding after expiration of the time
				  limit set in subsection (3) above, may petition OFR for leave to become a
				  party. Such a petition shall declare the petitioner's position by setting forth
				  the same information required in paragraphs (3)(a)-(d) of this rule, and by
				  explaining the failure to file timely written notice of intention to appear as
				  provided in subsection (3), above. Petitions for leave to become a party may be
				  filed with the presiding officer or administrative law judge at any time prior
				  to the termination of the hearing and shall be served on the applicant. The
				  presiding officer or administrative law judge shall determine whether the
				  petitioner's substantial interests will be affected by OFR's action on the
				  application. A later petition to become a party may be denied if granting the
				  petition might unduly interfere with or delay the orderly hearing
				  process.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69U - FSC - Financial Institution Regulation › Chapter 69U-105 - LICENSING AND CHARTERING OF FINANCIAL INSTITUTIONS › Section 69U-105.107 - Computation of Time

Current through Reg. 50, No. 138; July 16, 2024
The time period within which any pleading, paper, motion,
				  notice, instrument, or brief may be filed, or the time period within which any
				  act is required to or may be performed, as provided by any rule of the
				  Financial Services Commission or order of OFR, shall be so computed as to
				  exclude the first day and include the last day; provided, that when the last
				  day of such period falls on Saturday, Sunday, or a legal holiday under the laws
				  of this State, or a day on which the OFR may be closed for the day, the
				  computation of time shall omit such day and include the first day thereafter
				  which does not fall on any such day. When the period of time prescribed or
				  allowed shall be less than 7 days, intermediate Saturdays, Sundays, and legal
				  holidays shall be excluded from the computation. A half-day holiday shall be
				  considered as any other day and not as a holiday.
Rulemaking Authority 120.53(1)(a), 655.012(3) FS. Law
					 Implemented 120.53(1)(c), 120.60(5), 655.012
					 FS.
New 11-1-77, Amended 5-27-81, Formerly 3C-9.07, 3C-9.007,
					 Amended 8-14-94, Formerly 3C-105.107.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69U - FSC - Financial Institution Regulation › Chapter 69U-105 - LICENSING AND CHARTERING OF FINANCIAL INSTITUTIONS › Section 69U-105.108 - Extension of Time

Current through Reg. 50, No. 138; July 16, 2024
In cases where Director's designee sits as a presiding
				  officer, the presiding officer may grant an extension of time for the filing of
				  any pleading required or permitted by these rules. Applications for such
				  extensions must be served on all other parties and filed with OFR at least 3
				  days prior to the date on which the pleading must be filed under these
				  rules.
Rulemaking Authority 655.012(3) FS. Law Implemented
					 120.80(3), 655.012(3) FS.
New 11-1-77, Amended 5-27-81, 3-28-83, Formerly 3C-9.08,
					 3C-9.008, Amended 8-14-94, 4-15-98, Formerly
					 3C-105.108.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69U - FSC - Financial Institution Regulation › Chapter 69U-105 - LICENSING AND CHARTERING OF FINANCIAL INSTITUTIONS › Section 69U-105.109 - Notice, Filing, Service

Current through Reg. 50, No. 138; July 16, 2024
(1) Notice. When
				required, service or notice shall be deemed effected when accomplished in the
				following manner:
(a) Service and notice of
				initial pleadings, orders, and other papers shall be effected upon a party by
				hand delivery or by U.S. mail, directed to a party's last known mailing
				address.
(b) Required notice to the
				general public shall be by publication in the Florida Administrative Register.
				OFR shall require any applicant to publish additional notices in newspapers of
				general circulation in the area affected, where it deems it necessary to afford
				adequate notice to the public.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69U - FSC - Financial Institution Regulation › Chapter 69U-105 - LICENSING AND CHARTERING OF FINANCIAL INSTITUTIONS › Section 69U-105.110 - Post-Evidentiary Procedures

Current through Reg. 50, No. 138; July 16, 2024
The presiding officer's or administrative law judge's report
				  shall contain findings of fact which shall be based exclusively upon competent
				  substantial evidence in the record and rulings on evidentiary matters. OFR
				  shall allow each party 10 days from the date of the presiding officer's or
				  administrative law judge's report in which to submit written exceptions thereto
				  pursuant to section 120.80(3)(b),
				  F.S.
Rulemaking Authority 655.012(3) FS. Law Implemented
					 120.80(3) FS.
New 11-1-77, Amended 8-3-78, 5-27-81, Formerly 3C-9.11,
					 3C-9.011, Amended 8-14-94, 4-15-98, Formerly
					 3C-105.110.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69U - FSC - Financial Institution Regulation › Chapter 69U-105 - LICENSING AND CHARTERING OF FINANCIAL INSTITUTIONS › Section 69U-105.112 - Record

Current through Reg. 50, No. 138; July 16, 2024
OFR shall see that an appropriate record of the proceedings
				  is maintained. The record shall consist only of:
(1) All notices, pleadings, motions, and
				interlocutory rulings;
(2) Evidence
				received or considered;
(3) A
				statement of matters officially recognized;
(4) Questions and proffers of proof and
				objections and rulings thereon;
(5)
				Proposed findings and exceptions;
(6) Any decision, opinion, or report by the
				presiding officer or administrative law judge;
(7) All staff memoranda or data submitted to
				the presiding officer or administrative law judge during the hearing or prior
				to its disposition, after notice of the submission to all parties, except
				communications by advisory staff as permitted under subsection
				120.66(1),
				F.S., if such communications are public records;
(8) All matters placed on the record after an
				ex parte communication pursuant to subsection
				120.66(2),
				F.S.; and,
(9) The official
				transcript, if one is ordered.
Rulemaking Authority 655.012(3) FS. Law Implemented 120.66,
					 120.80(3), 655.012 FS.
New 11-1-77, Amended 5-27-81, 3-8-83, Formerly 3C-9.13,
					 3C-9.013, Amended 8-14-94, 4-15-98, Formerly
					 3C-105.112.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69U - FSC - Financial Institution Regulation › Chapter 69U-105 - LICENSING AND CHARTERING OF FINANCIAL INSTITUTIONS › Section 69U-105.113 - Coordination with Federal and Other Agencies

Current through Reg. 50, No. 138; July 16, 2024
Immediately following the approval of any application
				  pursuant to this chapter OFR shall forward a copy of the final order to the
				  appropriate federal regulatory agencies. (See 12 USC section 1828c, and
				  12 U.S.C. sections
				  1811-1832.)
Rulemaking Authority 120.53(1)(a), 655.012(3) FS. Law
					 Implemented 120.53(1)(c), 120.60, 655.012, 658.22, 658.41, 658.43
					 FS.
New 11-1-77, Amended 3-12-79, 5-27-81, Formerly 3C-9.15,
					 3C-9.015, Amended 8-14-94, Formerly
					 3C-105.113.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69U - FSC - Financial Institution Regulation › Chapter 69U-105 - LICENSING AND CHARTERING OF FINANCIAL INSTITUTIONS › Section 69U-105.114 - Reconsideration

Current through Reg. 50, No. 138; July 16, 2024
Requests for reconsideration of applications on which a final
				  order has been rendered shall not be accepted. A new application may be filed
				  at any time by submitting substantive new or additional information to OFR. To
				  the extent relevant, OFR shall consider and incorporate the prior
				  administrative record. The statutory filing fee shall be
				  required.
Rulemaking Authority 120.53(1)(a), 655.012(3) FS. Law
					 Implemented 120.53(1)(c) FS.
New 5-24-78, Formerly 3C-10.101, 3C-9.16, 3C-9.016, Amended
					 8-14-94, Formerly 3C-105.114.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69U - FSC - Financial Institution Regulation › Chapter 69U-105 - LICENSING AND CHARTERING OF FINANCIAL INSTITUTIONS › Section 69U-105.201 - Scope

Current through Reg. 50, No. 138; July 16, 2024
These rules contain the specific procedures and policies for
				  filing and evaluating applications to organize or relocate state-chartered
				  banks, savings banks, associations, and trust companies ("state financial
				  institutions").
Rulemaking Authority 655.012(3) FS. Law Implemented
					 120.80(3), 658.26, 665.013, 667.003
					 FS.
New 8-28-75, Amended 5-24-78, 6-9-81, Formerly 3C-10.01,
					 3C-10.001, Amended 8-14-94, 4-15-98, Formerly
					 3C-105.201.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69U - FSC - Financial Institution Regulation › Chapter 69U-105 - LICENSING AND CHARTERING OF FINANCIAL INSTITUTIONS › Section 69U-105.202 - Application

Current through Reg. 50, No. 138; July 16, 2024
(1) Forms. The application for a new
				state-chartered bank, savings bank ("bank") or state-chartered association
				("association") shall be made on Form OFR-U-1. The application for a new
				state-chartered trust company ("trust company") shall be made on Form OFR-U-28.
(a) Each proposed executive officer,
				director, and major shareholder shall also complete the Interagency
				Biographical and Financial Report, Form OFR-U-10.
(b) Each proposed executive officer,
				director, and major shareholder shall review and attest to the accuracy of the
				biographical forms and financial reports submitted on his or her behalf.
				Material errors or omissions in the information submitted shall be grounds for
				a finding by OFR that such person lacks the truthfulness and integrity or the
				business acumen and judgment to meet the requisite standards for service as an
				executive officer, director, or major shareholder of a state financial
				institution. Unless there exists a reasonable basis for deciding otherwise, OFR
				shall waive this requirement for financial reports of proposed executive
				officers and directors should the proposed state financial institution be a
				subsidiary of a registered financial institution holding company, and accurate
				Annual Reports of the financial institution holding company for the last three
				years are both available and submitted.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69U - FSC - Financial Institution Regulation › Chapter 69U-105 - LICENSING AND CHARTERING OF FINANCIAL INSTITUTIONS › Section 69U-105.205 - Organization Expenses

Current through Reg. 50, No. 138; July 16, 2024
(1) The organization
				expenses shall be borne by the applicant. After approval of the shareholders,
				these expenses may be reimbursed as provided in section
				658.24, F.S. An accounting of
				the organization expenses must be provided to each subscriber and to OFR no
				later than the date upon which the call for payment of stock subscriptions is
				made.
(2) All capitalized expenses
				must be supported by an itemized statement from the applicant's certified
				public accountant of their eligibility for capitalization.
Rulemaking Authority 655.012(3) FS. Law Implemented 658.24,
					 665.013, 667.003 FS.
New 5-24-78, Amended 6-9-81, Formerly 3C-10.041, Amended
					 6-20-90, Formerly 3C-10.0041, Amended 8-14-94, 4-15-98, Formerly 3C-105.205,
					 Formerly 3C-105.205.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69U - FSC - Financial Institution Regulation › Chapter 69U-105 - LICENSING AND CHARTERING OF FINANCIAL INSTITUTIONS › Section 69U-105.207 - Coordination with Federal Regulatory Agencies and Department of State

Current through Reg. 50, No. 138; July 16, 2024
(1) Approval by Federal Regulatory Agencies.
				Upon approval by OFR, a copy of the final order shall be forwarded to the
				Federal Deposit Insurance Corporation for insurance of accounts, to the Federal
				Reserve System for approval of membership in the Federal Reserve System and/or
				for formation of a bank holding company, and the Office of Thrift Supervision
				for the formation of an association holding company. Within three months after
				approval by OFR, the applicant must have provided sufficient information to all
				appropriate federal regulatory agencies to have its federal application(s)
				considered complete for processing. The failure of applicant to accomplish this
				filing with all the appropriate federal regulatory agencies within three months
				after approval by OFR, a final order of denial by any federal regulatory
				agency, or a revocation of the final order issued by any federal regulatory
				agency will terminate and revoke the final order issued by OFR approving the
				application.
(2) Articles of
				Incorporation. Within three months after approval by OFR and all appropriate
				federal regulatory agencies, the applicant shall execute and submit articles of
				incorporation, conformed to the form articles prescribed by OFR, together with
				the filing fees due under section
				607.0122, F.S., to
				OFR.
(3) OFR will review the
				Articles, approve them for filing with the Department of State, as provided in
				section 658.23(3),
				F.S., and shall file such Articles with the Department of
				State.
Rulemaking Authority 655.012(3) FS. Law Implemented
					 607.0122, 658.22, 658.23, 655.013, 665.013, 667.003
					 FS.
New 8-28-75, Formerly 3C-10.11, Amended 5-24-78, 6-9-81,
					 Formerly 3C-10.061, Amended 6-20-90, Formerly 3C-10.0061, Amended 8-14-94,
					 4-15-98, Formerly 3C-105.207.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69U - FSC - Financial Institution Regulation › Chapter 69U-105 - LICENSING AND CHARTERING OF FINANCIAL INSTITUTIONS › Section 69U-105.208 - Relocation of Opened State Financial Institutions and Redesignation of Main Office or Branch Office

Current through Reg. 50, No. 138; July 16, 2024
(1) The site of a
				state financial institution office which has been in operation for at least 18
				months may be relocated to a new site in any county of this state where the
				state financial institution currently has an authorized branch office with at
				least 30 days prior written notification to OFR. Such notification shall
				include the following minimum information:
(a)
				The name and address of the office.
(b) The exact street address for the proposed
				site, or the legal description if street address is not available.
(c) The distance and direction of the
				proposed location from the present location.
(d) The anticipated effective date for
				completion of the relocation.
(e)
				Plans for disposal of the present building or lease and leasehold improvements,
				if applicable.
(f) A schedule of
				applicant's present and proposed investment in fixed assets to confirm
				compliance with the fixed asset investment requirements of section
				658.67(7),
				F.S.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69U - FSC - Financial Institution Regulation › Chapter 69U-105 - LICENSING AND CHARTERING OF FINANCIAL INSTITUTIONS › Section 69U-105.209 - Opening

Current through Reg. 50, No. 138; July 16, 2024
(1) Temporary Quarters. Requests for
				authority to open for business in temporary quarters shall be submitted in
				writing as soon as such contingency becomes evident. The request shall include
				the minimum information required in the appropriate pages of Exhibit D of Form
				OFR-U-1 or Form OFR-U-28, as applicable, in effect at the time the request is
				made.
(2) Shareholder's Meeting.
				Following commencement of corporate existence and issuance of all of the stock
				certificates from the initial stock offering, and at least 30 days prior to the
				state financial institution's proposed opening date, a shareholders meeting
				shall be held to elect directors already approved by OFR, approve reimbursement
				of organizational expenses previously incurred by the organizers, and conduct
				other business as may be appropriate. For the purpose of this paragraph (a),
				one financial institution holding company will be required to have a meeting of
				the holding company shareholders in order to empower the holding company
				directors to authorize the above required actions.
(3) Pre-opening Examination. Following
				receipt of the notice of payment of capital funds, as required by section
				658.25(2),
				F.S., a pre-opening state examination of the state financial institution shall
				be performed prior to the requested opening date.
(4) Federal Approval. Should the bank or
				association pre-opening examination show that all requirements for opening have
				been met, the Federal Deposit Insurance Corporation Regional Office in Atlanta,
				the Office of Thrift Supervision, Atlanta District, or the Federal Reserve Bank
				of Atlanta, whichever is appropriate, shall be contacted and so
				informed.
(5) Certificate of
				Authority to Transact Business. A certificate of authority to transact business
				shall be delivered to the applicant specifying the opening date. The
				certificate will constitute the charter for the applicant.
Rulemaking Authority 655.012(3) FS. Law Implemented 658.23,
					 658.24, 658.25, 658.26, 665.013 FS.
New 8-28-75, Formerly 3C-10.12, Amended 5-24-78, 6-9-81,
					 Formerly 3C-10.081, Amended 6-20-90, Formerly 3C-10.0081, Amended 8-14-94,
					 4-15-98, Formerly 3C-105.209.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69U - FSC - Financial Institution Regulation › Chapter 69U-105 - LICENSING AND CHARTERING OF FINANCIAL INSTITUTIONS › Section 69U-105.401 - Scope

Current through Reg. 50, No. 138; July 16, 2024
These rules contain the procedures for filing and evaluating
				  applications to establish or relocate branch offices of state financial
				  institutions pursuant to sections
				  658.26(2) and
				  (3), F.S.
Rulemaking Authority 655.012(3) FS. Law Implemented
					 658.26(2), (3), 665.013 FS.
New 3-22-76, Amended 5-24-78, 7-27-81, Formerly 3C-13.01,
					 Amended 3-24-86, Formerly 3C-13.001, Amended 8-14-94, 4-15-98, Formerly
					 3C-105.401.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69U - FSC - Financial Institution Regulation › Chapter 69U-105 - LICENSING AND CHARTERING OF FINANCIAL INSTITUTIONS › Section 69U-105.402 - Application

Current through Reg. 50, No. 138; July 16, 2024
Forms and Filing. A state financial institution operating in
				  a safe and sound manner may submit a notice to OFR to establish a branch office
				  at least 30 days before opening such branch. For the purpose of this section, a
				  safe and sound financial institution is an institution that has been in
				  operation for at least 24 months, is well-capitalized, has received an
				  aggregate rating at the institution's most recent state or federal safety and
				  soundness examination of "1," "2," or "3," with a management rating of "1," or
				  "2," and is not the object of any regulatory action. Other financial
				  institutions shall apply for approval to establish a branch office through
				  filing Form OFR-U-16. For purposes of this section, "regulatory action" shall
				  include cease and desist orders, written agreements, memoranda of
				  understanding, letters of understanding and agreement and any other equivalent
				  action initiated by a financial institution regulator. (Examination ratings are
				  based on the Federal Financial Institutions Examinations Council's Uniform
				  Interagency Trust Rating System and Uniform Financial Institutions Rating
				  System, often called the CAMELS rating system.)
Rulemaking Authority 655.012(3), 658.26(2)(c) FS. Law
					 Implemented 658.26(2), 665.013 FS.
New 3-22-76, Amended 5-24-78, 7-27-81, 8-12-82, Formerly
					 3C-13.02, Amended 3-24-86, Formerly 3C-13.002, Amended 8-14-94, 4-15-98,
					 9-27-99, 12-28-00, Formerly 3C-105.402.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69U - FSC - Financial Institution Regulation › Chapter 69U-105 - LICENSING AND CHARTERING OF FINANCIAL INSTITUTIONS › Section 69U-105.406 - Relocation of Established Branch Offices, Main Office or Branch Office

Current through Reg. 50, No. 138; July 16, 2024
All applications for approval to relocate a main office or a
				  branch office of a state financial institution shall be made on Form
				  OFR-U-12.
Rulemaking Authority 655.012(3), 655.061 FS. Law
					 Implemented 120.60(5), 655.012(3), 655.061, 658.26(3)(a), (b), 665.013, 667.003
					 FS.
New 5-24-78, Amended 7-27-81, 7-13-83, Formerly 3C-13.051,
					 Amended 3-24-86, Formerly 3C-13.0051, Amended 8-14-94, 10-8-95, 4-15-98,
					 Formerly 3C-105.406.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69U - FSC - Financial Institution Regulation › Chapter 69U-105 - LICENSING AND CHARTERING OF FINANCIAL INSTITUTIONS › Section 69U-105.407 - Branch Office Closing

Current through Reg. 50, No. 138; July 16, 2024
OFR shall be notified in writing at least 30 days prior to
				  the closing of an established branch office. Such notification shall include
				  evidence of a board resolution approving the closing and a copy of the notice
				  that was sent to the customers of the branch office notifying them of the
				  anticipated closing.
Rulemaking Authority 655.012(3) FS. Law Implemented
					 655.012(3), 658.26(3), 665.013, 667.003
					 FS.
New 7-27-81, Formerly 3C-13.071, 3C-13.0071, Amended
					 8-14-94, 4-15-98, Formerly 3C-105.407.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69U - FSC - Financial Institution Regulation › Chapter 69U-105 - LICENSING AND CHARTERING OF FINANCIAL INSTITUTIONS › Section 69U-105.408 - Timeframes for Processing

Current through Reg. 50, No. 138; July 16, 2024
Applicable time limits for processing branch office
				  applications filed with a proposed new state financial institution application
				  shall be the same as the time limits placed on the proposed new state financial
				  institution application (180 days).
Rulemaking Authority 655.012(3) FS. Law Implemented
					 120.60(5)(c), 658.26(2)(a), 665.013
					 FS.
New 7-13-83, Formerly 3C-13.10, 3C-13.010, Amended 8-14-94,
					 Formerly 3C-105.408.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69U - FSC - Financial Institution Regulation › Chapter 69U-105 - LICENSING AND CHARTERING OF FINANCIAL INSTITUTIONS › Section 69U-105.409 - Mobile Banking Units, Account Service Representatives, and Courier Services

Current through Reg. 50, No. 138; July 16, 2024
(1) With the prior
				approval of OFR, state financial institutions may provide banking services
				through mobile banking units, provided such units stop at predetermined
				locations within counties where the institution is otherwise authorized by OFR
				to operate. These mobile banking units shall be considered branches, and an
				application, pursuant to rule
				69U-105.402, F.A.C., along with
				the appropriate filing fee, shall be required.
(a) During each stop, the mobile banking unit
				shall be accessible to banking customers for intervals of not less than two
				hours and each stop location shall be utilized at least once each week in
				accordance with a published schedule. The published schedule may be altered or
				amended to provide for changes in operating hours of other offices of the state
				financial institution or to accommodate emergency situations as defined in
				section 655.90, F.S.
(b) Each state financial institution
				providing mobile banking services shall carry adequate fidelity, robbery, and
				hazard insurance coverage commensurate with the risks associated with the
				operation of such unit.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69U - FSC - Financial Institution Regulation › Chapter 69U-105 - LICENSING AND CHARTERING OF FINANCIAL INSTITUTIONS › Section 69U-105.501 - Scope

Current through Reg. 50, No. 138; July 16, 2024
These rules contain the procedures for filing and evaluating
				  applications for authority to establish a trust department by a state-chartered
				  bank, or savings bank ("bank") or a state-chartered association ("association")
				  pursuant to section 660.26, F.S.
Rulemaking Authority 655.012(3) FS. Law Implemented 660.26
					 FS.
New 7-5-83, Formerly 3C-2.01, 3C-2.001, Amended 8-14-94,
					 4-15-98, Formerly 3C-105.501.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69U - FSC - Financial Institution Regulation › Chapter 69U-105 - LICENSING AND CHARTERING OF FINANCIAL INSTITUTIONS › Section 69U-105.502 - Procedural Rules for Processing Applications

Current through Reg. 50, No. 138; July 16, 2024
Applications filed pursuant to rules
				  69U-105.501 through
				  69U-105.507, F.A.C., shall be
				  processed in all respects pursuant to rules
				  69U-105.101 through 69U-105.115,
				  F.A.C.
Rulemaking Authority 655.012(3) FS. Law Implemented 660.26
					 FS.
New 7-5-83, Formerly 3C-2.02, 3C-2.002, Amended 8-14-94,
					 Formerly 3C-105.502.