2010 Florida Code
TITLE XXXVIII BANKS AND BANKING
Chapter 663 INTERNATIONAL BANKING
PART II INTERNATIONAL DEVELOPMENT BANKS(ss. 663.301-663.319)
663.316 Borrowing; capital accounts.
663.316 Borrowing; capital accounts.
(1) An international development bank may borrow money and issue evidences of indebtedness in connection therewith.
(2) An international development bank shall have capital accounts in an amount equal to not less than 8 percent of its aggregate deposits. However, the commission by rule may increase the required amount of capital accounts to not more than 10 percent of such aggregate deposits. When adopting any such rule, the commission shall take into account the objective of protecting the interests of depositors and of maintaining a sound banking system in this state.
History. ss. 1, 5, ch. 86-82; s. 7, ch. 89-110; s. 1, ch. 91-307; s. 1, ch. 92-303; s. 1854, ch. 2003-261.
Disclaimer: These codes may not be the most recent version. Florida may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
