§ 657.001 Short title
§ 657.002 Definitions
§ 657.003 Purposes
§ 657.005 Application for authority to organize a credit union; investigation
§ 657.0061 Amendments to bylaws
§ 657.008 Place of doing business
§ 657.021 Board of directors; executive committee
§ 657.022 Executive officers
§ 657.023 Membership
§ 657.024 Membership meetings
§ 657.026 Supervisory or audit committee
§ 657.0265 Liability of credit union directors, supervisory committee members, or audit committee members
§ 657.027 Credit committee and credit manager
§ 657.028 Activities of directors, officers, committee members, employees, and agents
§ 657.031 Powers
§ 657.033 Accounts
§ 657.0335 Additional power to restrict withdrawals
§ 657.038 Loan powers
§ 657.039 Loan powers; extension of credit to directors and certain others
§ 657.041 Insurance; employee benefit plans
§ 657.042 Investment powers and limitations
§ 657.043 Reserves
§ 657.053 Assessments; state credit unions
§ 657.062 Conservatorship
§ 657.063 Involuntary liquidation
§ 657.064 Voluntary liquidation
§ 657.065 Merger
§ 657.066 Conversion from state credit union to federal credit union and conversely

Terms Used In Florida Statutes > Chapter 657

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Business: means any trade or business regardless of its for-profit or not-for-profit status. See Florida Statutes 668.802
  • Capital: means shares, deposits, and equity. See Florida Statutes 668.801
  • Computer: means an electronic, magnetic, optical, electrochemical, or other high-speed data processing device that performs logical, arithmetic, or storage functions and includes any data storage facility, data storage device, or communications facility directly related to, or operating in conjunction with, the device. See Florida Statutes 668.802
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporate credit union: means any credit union organized pursuant to any state or federal act for the purpose of serving other credit unions. See Florida Statutes 668.801
  • 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.
  • Credit union: means any cooperative society organized pursuant to this chapter. See Florida Statutes 668.801
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Deposits: means that portion of the money placed into the credit union by members on which interest may be paid. See Florida Statutes 668.801
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Equity: means undivided earnings, regular reserves, and other reserves. See Florida Statutes 668.801
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
  • Felony: A crime carrying a penalty of more than a year in prison.
  • Foreign credit union: means a credit union organized and operating under the laws of another state. See Florida Statutes 668.801
  • Fraud: Intentional deception resulting in injury to another.
  • Harm: means any impairment to the integrity, access, or availability of data, programs, systems, or information. See Florida Statutes 668.802
  • Immediate family: means parents, children, spouse, or surviving spouse of the member, or any other relative by blood, marriage, or adoption. See Florida Statutes 668.801
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Limited field of membership: means the defined group of persons designated as eligible for membership in the credit union who:
    (a) Have a similar profession, occupation, or formal association with an identifiable purpose;
    (b) Live or work within an identifiable neighborhood, community, rural district, or county;
    (c) Are employed by a common employer; or
    (d) Are employed by the credit union; and

    members of the immediate family of persons within such group. See Florida Statutes 668.801

  • Loss: means any of the following:
    (a) Any reasonable cost incurred by the owner, operator, or lessee of a protected computer or the owner of stored information, including the reasonable cost of conducting a damage assessment for harm associated with the violation and the reasonable cost for remediation efforts, such as restoring the data, programs, systems, or information to the condition it was in before the violation. See Florida Statutes 668.802
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) Source: OCC
  • oath: includes affirmations. See Florida Statutes 88.6011
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • person: includes individuals, children, firms, associations, joint adventures, partnerships, estates, trusts, business trusts, syndicates, fiduciaries, corporations, and all other groups or combinations. See Florida Statutes 88.6011
  • Personal property: All property that is not real property.
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • political subdivision: include counties, cities, towns, villages, special tax school districts, special road and bridge districts, bridge districts, and all other districts in this state. See Florida Statutes 88.6011
  • Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
  • Protected computer: means a computer that is used in connection with the operation of a business and stores information, programs, or code in connection with the operation of the business in which the stored information, programs, or code can be accessed only by employing a technological access barrier. See Florida Statutes 668.802
  • Quorum: The number of legislators that must be present to do business.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Shares: means the money placed into the credit union by members on which dividends may be paid. See Florida Statutes 668.801
  • Technological access barrier: means a password, security code, token, key fob, access device, or similar measure. See Florida Statutes 668.802
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
  • Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
  • Without authorization: means access to a protected computer by a person who:
    (a) Is not an authorized user;
    (b) Has stolen a technological access barrier of an authorized user; or
    (c) Circumvents a technological access barrier on a protected computer without the express or implied permission of the owner, operator, or lessee of the computer or the express or implied permission of the owner of information stored in the protected computer. See Florida Statutes 668.802
  • writing: includes handwriting, printing, typewriting, and all other methods and means of forming letters and characters upon paper, stone, wood, or other materials. See Florida Statutes 88.6011