Florida Savings Bank Act

The act governs the chartering, organization, and supervision of savings banks under state law, in both mutual and capital stock form. It establishes how such an institution is incorporated — application, minimum initial capital, approval of the corporate name and managing officer, and issuance of a certificate of incorporation — and sets ongoing corporate requirements covering the board of directors, officers, amendment of articles and bylaws, and changes of name, office, or branch locations. It also defines the supervisory framework: rulemaking, hearings with notice and a right to respond, recorded proceedings, decisions and orders subject to judicial review, fees, examination access to books and records, and administrative penalties for noncompliance, together with provisions on how tax, securities, and commercial law apply to savings banks and on the liability of the commissioner and other regulatory personnel.

Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.