Florida § 667.007 - Supervisory case; emergency conversion, reorganization, merger; consolidation; acquisition of assets.
Full text of Florida Florida Statutes § 667.007 — Supervisory case; emergency conversion, reorganization, merger; consolidation; acquisition of assets., with citation guidance and answers to common questions.
§ 667.007. Supervisory case; emergency conversion, reorganization, merger; consolidation; acquisition of assets.
(1) The office may determine that a state or federal savings bank is a supervisory case if it finds that: (a) The savings bank is insolvent; or (b) The savings bank is imminently insolvent. Any such finding by the office shall be based upon reports furnished to it by a state or federal regulatory agency or upon other evidence from which it is reasonable to conclude that the savings bank is a supervisory case. (2) Notwithstanding any other provision of this chapter or chapter 120, if the office finds that immediate action is necessary to protect the interests of depositors and reduce the potential for claims against the insurance fund, or in order to prevent the probable failure of a state or federal savings bank which is a supervisory case, the office may, with the concurrence of the appropriate federal regulatory agency in the case of any savings bank the deposits of which are federally insured, issue an emergency order authorizing: (a) The conversion of such savings bank from a state to a federal charter, or vice versa, without change of business form; (b) The reorganization, merger, or consolidation of such state or federal savings bank with another state or federal savings bank; (c) The conversion of such state or federal savings bank into a state or federal capital stock savings bank; or (d) Any state or federal savings bank to acquire the assets of, and assume the liabilities of, such failing savings bank.
Frequently Asked Questions About Florida § 667.007
What does Florida Statutes § 667.007 cover?
Section 667.007 ("Supervisory case; emergency conversion, reorganization, merger; consolidation; acquisition of assets.") is part of the Florida Statutes, the codified statutory law of Florida. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Florida § 667.007?
A common citation format is "Florida Statutes § 667.007" (Florida). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Florida law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Florida official source linked on this page or consult a licensed Florida attorney.
How does Florida § 667.007 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Florida can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Florida.