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The Florida Statutes
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The 1995 Florida Statutes
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658.79 Taking possession of
insolvent state banks or trust companies. ---
Whenever the department has reason to conclude, based
upon the reports furnished to it by a state bank or trust company
examiner or upon other satisfactory evidence, that any state bank
or trust company:
(1) Is insolvent or imminently insolvent; or
(2) Is transacting its business in an unsound, unsafe,
or unauthorized manner such that it is threatened with imminent
insolvency,
the department may, in its discretion, forthwith designate and
appoint a liquidator or receiver to take charge of the assets and
affairs of such bank or trust company and require of him such bond
and security as the department deems proper, not exceeding double
the amount that may come into his hands. The department may enlist
the services of any state or local law enforcement agency in
taking possession and securing the assets of the bank or trust
company.
History: ss. 102, 152, ch. 80-260; ss. 2, 3, ch. 81-318; s. 1, ch.
91-307; ss. 1, 136, ch. 92-303.
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