The Florida Senate

663.09  Reports; records.--

(1)  Every international banking corporation doing business in this state shall, at such times and in such form as the department shall prescribe, make written reports in the English language to the department, under the oath of one of its officers, managers, or agents transacting business in this state, showing the amount of its assets and liabilities and containing such other matters as the department shall prescribe. An international banking corporation that maintains two or more offices may consolidate such information in one report unless the department otherwise requires for purposes of its supervision of the condition and operations of each such office. The late filing of such reports shall be subject to the imposition of the administrative fine prescribed by s. 655.045(2)(b). If any such international banking corporation shall fail to make any such report, as directed by the department, or if any such report shall contain any false statement knowingly made, the same shall be grounds for revocation of the license of the international banking corporation.

(2)  The international banking corporation of each state-licensed international bank agency or international branch shall perform or cause to be performed an audit of such international bank agency or international branch. The department shall, by rule, prescribe the minimum audit procedures including the audit reporting requirements which would satisfy the provisions of this subsection. The late submission of an audit shall be subject to the imposition of the administrative fine prescribed by s. 655.045(2)(b).

(3)  Each international banking corporation which operates an office licensed under this part shall cause to be kept, at a location accepted by the department:

(a)  Correct and complete books and records of account of the business operations transacted by such office. All policies and procedures governing the operations of such office, as well as any existing general ledger or subsidiary accounts, shall be maintained in the English language. The department may require that any other document not written in the English language which the department deems necessary for the purposes of its regulatory and supervisory functions be translated into English at the expense of the international banking corporation.

(b)  Current copies of the charter and bylaws of the international banking corporation, relative to the operations of the office, and minutes of the proceedings of its directors, officers, or committees relative to the business of the office. Such records shall be kept pursuant to ¹s. 658.72 and shall be made available to the department, upon request, at any time during regular business hours of the office. Any failure to keep such records as aforesaid or any refusal to produce such records upon request by the department shall be grounds for suspension or revocation of any license issued under this part.

(4)  In addition to any other reports it may be required to make, an international banking corporation which maintains an international bank agency or international branch in this state shall make reports to the department in such form and at such times as the department prescribes by rule concerning the management, asset quality, capital adequacy, and liquidity of the international banking corporation.

History.--s. 1, ch. 77-157; s. 257, ch. 79-400; ss. 90, 151, 152, ch. 80-260; ss. 2, 3, ch. 81-318; s. 1, ch. 91-307; ss. 1, 166, ch. 92-303.

¹Note.--Repealed by s. 189, ch. 92-303.

Note.--Former s. 659.67(9).