Florida Regulations 69U-105.706: Resulting Financial Entity’s Capital Structure and Management
Current as of: 2024 | Check for updates
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(1) For purposes of rules 69U-105.701 through 69U-105.708, F.A.C., sections 655.411(1)(c)1. and 655.414(2)(a), F.S., an adequate capital structure in relation to the resulting state financial entity’s activities and deposit liabilities, shall be a capital structure satisfactory to provide necessary services, including loans of sufficient size to meet the needs of prospective customers.
(2) The qualifications of management for the resulting state financial entity shall constitute reasonable promise for successful operation if they equal or exceed the management qualifications of OFR for financial entities of the same type. See Fl. Admin. Code R. 69U-105.206(3)(d)
Rulemaking Authority Florida Statutes § 655.012(3). Law Implemented 655.411(1)(c)2., (4), 655.414(2)(a) FS. History-New 11-23-83, Formerly 3C-18.06, 3C-18.006, Amended 8-14-94, 4-15-98, Formerly 3C-105.706.
Terms Used In Florida Regulations 69U-105.706
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
Rulemaking Authority Florida Statutes § 655.012(3). Law Implemented 655.411(1)(c)2., (4), 655.414(2)(a) FS. History-New 11-23-83, Formerly 3C-18.06, 3C-18.006, Amended 8-14-94, 4-15-98, Formerly 3C-105.706.