2010 Florida Code
TITLE XXXVIII BANKS AND BANKING
Chapter 663 INTERNATIONAL BANKING
PART II INTERNATIONAL DEVELOPMENT BANKS(ss. 663.301-663.319)
663.313 Ownership of stock.
663.313 Ownership of stock.
(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 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.
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