Florida Statute 658.79 - Full Text and Legal Analysis

The 2025 Florida Statutes

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.

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Amendments to 658.79

Annotations, Discussions, Cases:

Cases Citing Statute 658.79

Total Results: 6

Bayshore Executive Plaza Partnership v. Federal Deposit Insurance

750 F. Supp. 507, 1990 U.S. Dist. LEXIS 14599, 1990 WL 165147

District Court, S.D. Florida | Filed: Sep 24, 1990 | Docket: 2516698

Cited 21 times | Published

("COMPTROLLER"). Pursuant to Florida Statute section 658.79 (1984),[4] the Comptroller named the FDIC as

Charter Executive Center Ltd. v. Federal Deposit Insurance Corp. (In Re Charter Executive Center Ltd.)

34 B.R. 131, 1983 Bankr. LEXIS 6018

United States Bankruptcy Court, M.D. Florida | Filed: Jun 14, 1983 | Docket: 1474985

Cited 8 times | Published

State of Florida pursuant to state law. Fla.Stat. § 658.79 (1981). The FDIC was appointed as liquidator,

Iberiabank v. Beneva 41-1, LLC

701 F.3d 916, 2012 U.S. App. LEXIS 24696, 2012 WL 5974042

Court of Appeals for the Eleventh Circuit | Filed: Nov 30, 2012 | Docket: 2903755

Cited 2 times | Published

658.79, 658.80, and 658.81 (2009). Under § 658.79, the Office of Financial Regulation may designate

Granada Lakes Villas Condominium Ass'n v. Metro-Dade Investments Co.

125 So. 3d 756, 38 Fla. L. Weekly Supp. 777, 2013 WL 5878908, 2013 Fla. LEXIS 2354

Supreme Court of Florida | Filed: Oct 31, 2013 | Docket: 60236066

Cited 1 times | Published

of winding up and liquidating a corporation); § 658.79, Fla. Stat. (2012) (authorizing the appointment

Anonymous Bank v. Florida Department of Banking & Finance

512 So. 2d 1112, 12 Fla. L. Weekly 2298, 1987 Fla. App. LEXIS 10348

District Court of Appeal of Florida | Filed: Sep 22, 1987 | Docket: 64629625

Published

that the Department of Banking pursuant to Section 658.79, Florida Statutes (1985), has the power to

Crews Lake Road & Bridge District v. Pineview Estates, Inc. (In re Pineview Estates, Inc.)

57 B.R. 483, 1986 Bankr. LEXIS 6985

United States Bankruptcy Court, M.D. Florida | Filed: Jan 2, 1986 | Docket: 65779104

Published

State of Florida closed Metropolitan pursuant to § 658.-79 Fla.Stat. (1981). On February 12, 1982 the Comptroller