The 2023 Florida Statutes (including Special Session C)

Title XXXVIII
BANKS AND BANKING

Chapter 658
BANKS AND TRUST COMPANIES

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F.S. 658.79

658.79 Taking possession of insolvent state banks or trust companies.—Whenever the office has reason to conclude, based upon the reports furnished to it by a state bank or trust company examiner or upon other satisfactory evidence, that any state bank or trust company:

(1) Is insolvent or imminently insolvent; or

(2) Is transacting its business in an unsound, unsafe, or unauthorized manner such that it is threatened with imminent insolvency,

the office may, in its discretion, forthwith designate and appoint a liquidator or receiver to take charge of the assets and affairs of such bank or trust company and require of him or her such bond and security as the office deems proper, not exceeding double the amount that may come into his or her hands. The office may enlist the services of any state or local law enforcement agency in taking possession and securing the assets of the bank or trust company.

History.—ss. 102, 152, ch. 80-260; ss. 2, 3, ch. 81-318; s. 1, ch. 91-307; ss. 1, 136, ch. 92-303; s. 541, ch. 97-102; s. 1796, ch. 2003-261.

F.S. 658.79 on Google Scholar

F.S. 658.79 on Casetext

Amendments to 658.79

Arrestable Offenses / Crimes under Fla. Stat. 658.79

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 658.79.

Annotations, Discussions, Cases:

Cases from cite.case.law:

GRANADA LAKES VILLAS CONDOMINIUM ASSOCIATION, INC. v. METRO- DADE INVESTMENTS CO., 125 So. 3d 756 (Fla. 2013)

. . . authorizing the appointment of a receiver for the purpose of winding up and liquidating a corporation); § 658.79 . . .

IBERIABANK, a v. BENEVA I, LLC, a II, LLC, a III, LLC, a, 701 F.3d 916 (11th Cir. 2012)

. . . . §§ 658.79, 658.80, and 658.81 (2009). . . . Under § 658.79, the Office of Financial Regulation may designate a receiver to take charge of the assets . . .

In HAAS, 195 B.R. 933 (Bankr. S.D. Ala. 1996)

. . . Principal Financial Group holds a priority claim for $658.79 in connection with an employee benefit program . . . Plan proposes in Class 8 to pay the priority employee benefit claim of Principal Financial Group of $658.79 . . .

WILLINGWAY HOSPITAL, INC. v. BLUE CROSS BLUE SHIELD OF OHIO,, 870 F. Supp. 1102 (S.D. Ga. 1994)

. . . hereinafter “Will-ingway”), filed suit in the Superior Court of Bulloch County, Georgia, to collect a $45,-658.79 . . .

FEDERAL DEPOSIT INSURANCE CORPORATION, v. HADDAD,, 826 F. Supp. 1419 (S.D. Fla. 1993)

. . . . §§ 658.79 and 658.80, the FDIC was appointed as liquidator of the bank. . . .

FEDERAL DEPOSIT INSURANCE CORPORATION, v. J. COLEMAN,, 611 So. 2d 1300 (Fla. Dist. Ct. App. 1992)

. . . On the same date, the Broward County Circuit Court, pursuant to sections 658.79 and 658.-81, Florida . . .

FEDERAL DEPOSIT INSURANCE CORPORATION, v. HADDAD, De C. J. N., 778 F. Supp. 1559 (S.D. Fla. 1991)

. . . . §§ 658.79, 658.80, the FDIC was appointed as liquidator of the bank and simultaneous therewith, the . . .

BAYSHORE EXECUTIVE PLAZA PARTNERSHIP, a v. FEDERAL DEPOSIT INSURANCE CORPORATION, a, 750 F. Supp. 507 (S.D. Fla. 1990)

. . . Pursuant to Florida Statute section 658.79 (1984), the Comptroller named the FDIC as liquidator of Bayshore . . . Florida Statute section 658.79 states in pertinent part as follows: (1) Whenever the department has reason . . .

ANONYMOUS BANK, v. FLORIDA DEPARTMENT OF BANKING AND FINANCE,, 512 So. 2d 1112 (Fla. Dist. Ct. App. 1987)

. . . We also note that the Department of Banking pursuant to Section 658.79, Florida Statutes (1985), has . . . Such an order is an alternative to the Department closing the bank without notice pursuant to Section 658.79 . . .

In CHARTER EXECUTIVE CENTER LTD. CHARTER EXECUTIVE CENTER LTD. v. FEDERAL DEPOSIT INSURANCE CORP. v. CHARTER EXECUTIVE CENTER LTD., 34 B.R. 131 (Bankr. M.D. Fla. 1983)

. . . . § 658.79 (1981). . . .