Florida Statutes 667.010 – Loans
Current as of: 2023 | Check for updates
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Terms Used In Florida Statutes 667.010
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Home property: means real estate on which is located, or will be located pursuant to a real estate loan, a structure designed for residential use by one family or a single condominium unit, including common elements pertinent to such unit, designed for residential use by one family in a multiple-dwelling-unit structure or complex and including fixtures, home furnishings, and equipment. See Florida Statutes 667.002
- Liquid assets: means :(a) Cash on hand. See Florida Statutes 667.002
- Primarily residential property: means real estate on which there is located, or will be located pursuant to a real estate loan:
(a) Any structure designed or used primarily for residential rather than nonresidential purposes and consisting of more than one dwelling unit. See Florida Statutes 667.002- Savings bank: means a capital stock or mutual savings bank subject to the provisions of this chapter. See Florida Statutes 667.002
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 for agricultural, business, corporate, or commercial purposes.