Fla. Stat. § 667.001
Short title
This chapter may be cited as the “Florida Savings Bank Act.”
Florida Statutes Chapter 667 — SAVINGS BANKS
Florida · statute · Fla. Stat. ch. 667 · 13 active provisions
Fla. Stat. § 667.002
Definitions
Except to the extent specifically qualified by context, when used in this chapter:(1) “Capital stock” means the aggregate of shares of nonwithdrawable capital issued by a capital stock association, but does not include nonwithdrawable capital represented by capital certificates.(2) “Dwelling unit” means a single, unifi…
Fla. Stat. § 667.003
Applicability of chapter 658
Any state savings bank is subject to all the provisions, and entitled to all the privileges, of the financial institutions codes except where it appears, from the context or otherwise, that such provisions clearly apply only to banks or trust companies organized under the laws of this state or the United States. Withou…
Fla. Stat. § 667.004
Name
The name of every savings bank shall include the words “savings bank.” The use of the words “National,” “Federal,” “United States,” “insured,” or “guaranteed,” separately or in any combination thereof with other words or syllables, is prohibited as part of the corporate name of a savings bank.
Fla. Stat. § 667.005
Reorganization, merger, or consolidation with a foreign savings bank
(1) A savings bank shall have the power to reorganize, merge, or consolidate with a foreign savings bank, as defined in s. 667.013, subject to the approval of the office.(2) If the resulting or surviving savings bank is to be a foreign savings bank, the office shall not approve the proposed transaction unless:(a) The l…
Fla. Stat. § 667.006
Conversion of state or federal mutual savings bank or state or federal mutual association to capital stock savings bank
(1) CONVERSION INTO CAPITAL STOCK SAVINGS BANK.—Any state or federal mutual savings bank or state or federal mutual association may apply to the office for permission to convert itself into a capital stock savings bank operated under the provisions of this chapter in accordance with the following procedures:(a) The boa…
Fla. Stat. § 667.007
Supervisory case; emergency conversion, reorganization, merger; consolidation; acquisition of assets
(1) The office may determine that a state or federal savings bank is a supervisory case if it finds that:(a) The savings bank is insolvent; or(b) The savings bank is imminently insolvent.Any such finding by the office shall be based upon reports furnished to it by a state or federal regulatory agency or upon other evid…
Fla. Stat. § 667.008
Acquisition of assets of or control over a savings bank
(1)(a) In any case in which a person or group of persons proposes to purchase or acquire voting common stock of any capital stock savings bank, which purchase or acquisition would cause such person or group of persons to have control, as defined herein, of that savings bank, such person or group of persons must first m…
Fla. Stat. § 667.009
Powers of savings bank generally
Every savings bank incorporated pursuant to or operating under the provisions of the financial institutions codes shall have all the powers enumerated, authorized, and permitted by this chapter and such other rights, privileges, and powers as may be incidental to or reasonably necessary or appropriate for the accomplis…
Fla. Stat. § 667.010
Loans
On an annual average, based on monthly computations, a savings bank shall have invested at least 50 percent of assets, other than liquid assets of a savings bank invested in either real estate loans or interests therein on home property or primarily residential property and not more than 30 percent invested in loans fo…
Fla. Stat. § 667.011
Loan expenses
Every savings bank may require borrowers to pay all reasonable expenses incurred in connection with the making, closing, disbursing, extending, readjusting, or renewing of real estate loans. Without limiting the generality of the foregoing, such expenses may include appraisal, attorney, abstract, recording, and registr…
Fla. Stat. § 667.012
Dealing with successors in interest
In the case of any investment made by a savings bank in a real estate loan, in the event the ownership of the real estate security or any part thereof becomes vested in a person other than the party or parties originally executing the security instruments, and provided there is not an agreement in writing to the contra…
Fla. Stat. § 667.013
Foreign savings banks
(1) DEFINED.—For the purposes of this section, the term “foreign savings bank” includes any domestic joint venture, business trust, syndicate, firm, company, savings bank, fiduciary, partnership, or corporation, and all other groups or combinations, by whatever name called, actually engaged in the business of a savings…