Florida Administrative Code
69 - DEPARTMENT OF FINANCIAL SERVICES
69U - FSC - Financial Institution Regulation
Chapter 69U-120 - BANKS, TRUST COMPANIES, SAVINGS BANKS AND ASSOCIATIONS
Section 69U-120.006 - Undivided Profits; Loan and Investment Limitations
Universal Citation: FL Admin Code R 69U-120.006
Current through Reg. 50, No. 187; September 24, 2024
(1) Undivided profits, as part of capital for loan and investment purposes, shall be the amount reported as undivided profits on the Report of Condition as submitted to OFR at the close of the previous calendar quarter.
(2) Approved changes in the capital stock issued and outstanding shall be applicable at the date of entry in the bank's records of account for computation of loan and investment limitations.
Rulemaking Authority 655.012(3) FS. Law Implemented 658.48, 658.67 FS.
New 6-30-81, Formerly 3C-11.23, 3C-11.023, 3C-120.006.
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