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Florida Statute 657.031 | Lawyer Caselaw & Research
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The 2024 Florida Statutes

Title XXXVIII
BANKS AND BANKING
Chapter 657
CREDIT UNIONS
View Entire Chapter
F.S. 657.031
657.031 Powers.—
(1) When not in direct conflict with or superseded by specific provisions of the financial institutions codes, the general powers authorized to corporations in s. 607.0302 extend to credit unions formed under this chapter. This section shall be liberally construed to accomplish the purposes stated herein.
(2) Except as provided in s. 607.0304 or specific provisions of the financial institutions codes, the validity of a credit union’s action, including, but not limited to, any conveyance, transfer, or encumbrance of real or personal property to or by a credit union, may not be challenged on the ground that the credit union lacks or lacked power to act.
(3) A credit union formed under this chapter shall operate as a financial institution, consistent with the provisions of chapter 655 and this chapter, and may exercise such incidental powers as are necessary or required to effectively carry out the purposes for which the credit union was organized, provided the exercise of powers is approved by rule or order of the commission or office.
History.—ss. 1, 6, ch. 80-258; ss. 2, 3, ch. 81-318; ss. 5, 46, ch. 82-214; ss. 13, 58, ch. 85-82; s. 1, ch. 91-307; ss. 1, 88, ch. 92-303; s. 1747, ch. 2003-261; s. 145, ch. 2004-5; s. 18, ch. 2005-181.

F.S. 657.031 on Google Scholar

F.S. 657.031 on Casetext

Amendments to 657.031


Arrestable Offenses / Crimes under Fla. Stat. 657.031
Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 657.031.

Annotations, Discussions, Cases:

Cases Citing Statute 657.031

Total Results: 2

Ago

Court: Florida Attorney General Reports | Date Filed: 1984-04-03

Snippet: and deposits or obligations (see, ss 657.002 and 657.031, F.S.) of a credit union. Section402.17(2)(d),

Ago

Court: Florida Attorney General Reports | Date Filed: 1980-11-21

Snippet: noted that former s. 657.04(10) and present s. 657.031(25) empower the credit unions to reimburse their