The Florida Senate

658.36  Changes in capital.--

(1)  No state bank or trust company shall reduce its outstanding capital stock without first obtaining the approval of the department, and such approval shall be withheld if the reduction will cause the outstanding capital stock to be less than the minimum required pursuant to the financial institutions codes.

(2)  Any state bank or trust company may, with the approval of the department, provide for an increase in its capital stock.

History.--s. 2, ch. 28016, 1953; ss. 12, 35, ch. 69-106; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 26, 151, 152, ch. 80-260; ss. 2, 3, ch. 81-318; s. 1, ch. 91-307; ss. 1, 120, ch. 92-303.

Note.--Former s. 659.10.