Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69U - FSC - Financial Institution Regulation › Chapter 69U-140 - INTERNATIONAL BANKS › Section 69U-140.002 - Applications

Current through Reg. 50, No. 138; July 16, 2024
(1) The application for authority to
				establish an international branch, or international bank agency, shall be filed
				on Form OFR-U-20, Application for the Establishment of an International Branch
				or International Bank Agency in the State of Florida, effective 01/2018, herein
				incorporated by reference and available at
http://www.flrules.org/Gateway/reference.asp?No=Ref-08795
.
				The application for authority to establish an international representative
				office or international administrative office shall be filed on Form OFR-U-20A,
				Application for the Establishment of an International Representative Office or
				International Administrative Office in the State of Florida, effective 01/2018,
				herein incorporated by reference and available at
http://www.flrules.org/Gateway/reference.asp?No=Ref-08797
.
				The application to convert an international bank agency to an international
				branch shall be filed on Form OFR-U-20B, Application to Convert an
				International Bank Agency to an International Branch, effective 01/2018, herein
				incorporated by reference and available at
http://www.flrules.org/Gateway/reference.asp?No=Ref-08801
.
				The application for authority to organize an international development bank
				shall be filed on Form OFR-U-20C, Application for Authority to Organize an
				International Development Bank, effective 01/2018, herein incorporated by
				reference and available at
http://www.flrules.org/Gateway/reference.asp?No=Ref-08791
.
				The application for authority to convert a currently licensed international
				banking office to an office of a different type shall be filed on Form
				OFR-U-20E, Application for Authority to Convert a Licensed International
				Banking Office to an Office of a Different Type, effective 01/2018, herein
				incorporated by reference and available at
http://www.flrules.org/Gateway/reference.asp?No=Ref-08792
.
				The application shall be submitted with a nonrefundable filing fee in the
				amount prescribed by Section
				663.12, F.S., which is made
				payable to the Office of Financial Regulation (OFR).
(2) An applicant which seeks authority to
				establish an international branch, international bank agency, international
				administrative office, or an international representative office may, in lieu
				of submitting its application on the form prescribed by the OFR in subsection
				(1), above, submit its application on such form and containing such information
				as is required by the Board of Governors of the Federal Reserve
				System.
(3) An applicant which
				seeks authority to establish an international branch, international bank
				agency, international administrative office, or an international representative
				office may submit the biographical information concerning its directors,
				executive officers, principal shareholders and proposed Florida management in
				the same form that such information was submitted to the Board of Governors of
				the Federal Reserve System on Interagency Biographical and Financial Report FR
				2081c (expiration 12/31/2017), herein incorporated by reference and available
				at
https://www.flrules.org/Gateway/reference.asp?No=Ref-07395
.
				The financial information in FR 2081c need not be provided.
(4) After the Fact Licensure In the Event of
				Acquisition, Merger, or Consolidation. Pursuant to section
				663.0601, F.S., if an
				international banking corporation proposes to acquire, merge, or consolidate
				with an international banking corporation that presently operates an
				international branch, international bank agency, international administrative
				office, or international representative office licensed in the State of
				Florida, the OFR may allow the currently licensed office to remain open and in
				operation after the consumation of a proposed acquisition, merger, or
				consolidation subject to certain conditions. An after-the-fact application for
				authority to establish an international branch or international bank agency
				shall be filed on Form OFR-U-20, Application for the Establishment of an
				International Branch or International Bank Agency in the State of Florida,
				effective 01/2018, which is hereby incorporated by reference and available at
http://www.flrules.org/Gateway/reference.asp?No=Ref-08795
.
				The application shall be submitted with a nonrefundable filing fee in the
				amount prescribed by Section
				663.12(1),
				F.S., which is made payable to the OFR. An after-the-fact application for
				authority to establish an international administrative office or an
				international representative office shall be filed on Form OFR-U-20A,
				Application for the Establishment of an International Representative Office or
				International Administrative Office in the State of Florida, effective 01/2018,
				which is hereby incorporated by reference and available at
http://www.flrules.org/Gateway/reference.asp?No=Ref-08797
.
				The application shall be submitted with a nonrefundable filing fee in the
				amount prescribed by Section
				663.12(1),
				F.S., which is made payable to the OFR.
(a)
				At least 30 days prior to the consumation of the acquisition, merger, or
				consolidation, the international banking corporation currently licensed to
				operate an international branch, international bank agency, international
				administrative office, or international representative office in Florida must
				provide the OFR a written notice. This written notice shall contain the
				following:
1. The name, home jurisdiction,
				and home country supervisor of each party to the transaction.
2. The effective date of the proposed
				transaction.
3. The type and terms
				of the transaction. The written notice must indicate whether the proposed
				transaction is an aqcuisition, merger, or consolidation, and give a brief
				description of the terms of the proposed transaction, including the names of
				the current and resulting entities, any reasons for engaging in the proposed
				transaction, and any proposed change to the board of directors.
4. If the proposed transaction will result in
				a change of home country supervisor, the written notice must include the name
				and home country jurisdiction of the new home country supervisor.
5. Certification that the international
				branch, international bank agency, international administrative office, or
				international representative office will not engage in any new lines of
				business or otherwise expand its activities until final disposition of the
				after-the-fact application.
6.
				Certification that the proposed transaction will not result in violation of
				subsection (1) of Section
				663.0601,
				F.S.