655.416 Book value of assets. - Florida Statutes

655.416 Book value of assets.

Upon the effective date of a merger, consolidation, conversion, or acquisition pursuant to ss. 655.41-655.419, an asset may not be carried on the books of the resulting financial entity at a valuation higher than that at which it was carried on the books of a participating or converting financial entity at the time of its last examination by a state or federal examiner before the effective date of such merger, consolidation, conversion, or acquisition, without written approval from the office.

History. s. 4, ch. 82-214; s. 1, ch. 85-65; s. 1, ch. 91-307; ss. 1, 35, ch. 92-303; s. 1727, ch. 2003-261.