Florida Statutes 663.318 – Reserve requirements
Current as of: 2023 | Check for updates
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Terms Used In Florida Statutes 663.318
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- International development bank: means a corporation established for the purpose of promoting development in foreign countries by directly or indirectly making funding available to foreign business enterprises or foreign governments or by providing financing in connection with import-export transactions. See Florida Statutes 663.301
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
(1) An international development bank shall establish and maintain adequate loan loss reserves.
(2) An international development bank organized under chapter 617 as a corporation not for profit shall not be required to establish or maintain any reserves with respect to its liabilities.