Florida Regulations 69U-105.703: Application
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(1) Applications for approval to convert a federal or state financial entity into a state charter to do business as another type of financial entity or without a change in business form shall be filed on an Application and Plan of Conversion, Form OFR-U-4, effective 1/2018, herein incorporated by reference and available at http://www.flrules.org/Gateway/reference.asp?No=Ref-08788. Applications for approval to merge or consolidate one or more financial entities shall be filed on an Application for Approval to Merge or Consolidate a Bank, Trust Company, or Association, Form OFR-U-19, effective 1/2018, herein incorporated by reference and available at http://www.flrules.org/Gateway/reference.asp?No=Ref-08790. Applicants may modify the form to the extent necessary to accommodate different types of financial entities. Applications to acquire all or substantially all of the assets and/or liabilities of any financial entity shall be submitted on an Application and Plan for the Purchase of Assets and Assumption of Liabilities, Form OFR-U-17, effective 1/2018, herein incorporated by reference and available at http://www.flrules.org/Gateway/reference.asp?No=Ref-08789.
(2) Applications shall include the following material relevant to the particular type of application filed:
(a) A certified copy of a conversion, merger or consolidation resolution adopted by the board of directors;
(b) A resolution adopted by the board of directors of a federal financial entity authorizing OFR to examine the federal financial entity’s records in connection with the conversion, merger, or consolidation application. Additionally, OFR is authorized to assess any state or federal financial entity, applying pursuant to this chapter, a non-refundable examination fee to cover the actual costs of any examination required as a part of the application process;
(c) A certified copy of a conversion, merger or consolidation resolution adopted by the members or stockholders may be submitted to OFR upon receipt of a conditional approval order;
(d) The plan merger or consolidation, and conversion.
Rulemaking Authority Florida Statutes § 655.012(2). Law Implemented 655.411(1), 655.412(1), 655.414(1) FS. History-New 11-23-83, Formerly 3C-18.03, 3C-18.003, Amended 8-14-94, 4-15-98, Formerly 3C-105.703, Amended 11-28-17.
Terms Used In Florida Regulations 69U-105.703
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
(a) A certified copy of a conversion, merger or consolidation resolution adopted by the board of directors;
(b) A resolution adopted by the board of directors of a federal financial entity authorizing OFR to examine the federal financial entity’s records in connection with the conversion, merger, or consolidation application. Additionally, OFR is authorized to assess any state or federal financial entity, applying pursuant to this chapter, a non-refundable examination fee to cover the actual costs of any examination required as a part of the application process;
(c) A certified copy of a conversion, merger or consolidation resolution adopted by the members or stockholders may be submitted to OFR upon receipt of a conditional approval order;
(d) The plan merger or consolidation, and conversion.
Rulemaking Authority Florida Statutes § 655.012(2). Law Implemented 655.411(1), 655.412(1), 655.414(1) FS. History-New 11-23-83, Formerly 3C-18.03, 3C-18.003, Amended 8-14-94, 4-15-98, Formerly 3C-105.703, Amended 11-28-17.