Florida Statutes

Fla. Stat. § 658.80 (2025)

Appointment of receiver or liquidator.

✓ 2025 Florida Statutes — current through the 2025 Regular Session

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658.80 Appointment of receiver or liquidator.—

(1) Upon taking possession of a state bank or trust company pursuant to s. 658.79, the office shall appoint either a receiver to conserve the assets of the institution or a liquidator to liquidate the assets of the institution and wind up its affairs.

(2) The Federal Deposit Insurance Corporation or any appropriate federal agency shall be appointed by the office as receiver or liquidator of any state bank, the deposits of which are to any extent insured by the corporation, and which shall have been closed by the office. Upon appointment, the corporation may act without bond as receiver or liquidator and shall have and possess all the powers and privileges provided by the laws of this state with respect to a receiver or liquidator, respectively, of such institution, its depositors and other creditors. If the corporation declines to accept the tendered appointment, the office may appoint and thereafter dismiss or replace such other receiver or liquidator as deemed necessary or advisable.

History.—ss. 103, 152, ch. 80-260; ss. 2, 3, ch. 81-318; s. 1, ch. 91-307; ss. 1, 137, ch. 92-303; s. 1797, ch. 2003-261.

Notes of Decisions

Cited in 2 cases, 1987–1990 · leading case: In Re Banco De Descuento, 78 B.R. 337 (Bankr. S.D. Florida 1987).

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In Re Banco De Descuento, 78 B.R. 337 (Bankr. S.D. Florida 1987). “§ 658.80 (2). The General Law of Banks of the Republic of Ecuador establishes a generally similar system for the liquidation of insolvent Ecuadorian banks.”

Citibank Leasing Corp. v. Van Arnem, 39 Fla. Supp. 2d 160 (Fla. Cir. Ct. 1990). · cites it 2× “1937); Fla. Stat. § 658.80 . The entire subsidiary, including all of its assets, constitute assets of the failed institution, and, necessarily, pass through the FDIC to successors such as Citibank Leasing to wind up the affairs of the failed bank.”

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