Florida Regulations 69U-110.008: Branches
Current as of: 2024 | Check for updates
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(1) “”Branch office”” means any permanent location or mobile unit other than the principal place of business where membership services are provided by credit union staff.
(2) A credit union operating in a safe and sound manner in Fl. Admin. Code R. 69U-100.948(2)(a), may open a branch office or relocate branch offices previously established by providing prior written notification to OFR. The notification must specify the name and location of the branch office and effective date of the change. The branch office location and operations must comport with the credit union’s bylaws and authorized field of membership.
(3) Any additional investment in fixed assets related to a change in location or opening of a branch office may not exceed the statutory limits of investments in real estate and equipment without prior written approval of OFR.
(4) OFR shall be notified in writing within ten business days of the closing of an established branch office.
Rulemaking Authority Florida Statutes § 655.012(2). Law Implemented 657.008, 657.042 FS. History-New 6-16-78, Amended 10-13-81, Formerly 3C-30.29, Amended 7-2-87, Formerly 3C-30.029, Amended 10-8-95, Formerly 3C-110.008, Amended 3-6-07, 9-11-18.
Terms Used In Florida Regulations 69U-110.008
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
(3) Any additional investment in fixed assets related to a change in location or opening of a branch office may not exceed the statutory limits of investments in real estate and equipment without prior written approval of OFR.
(4) OFR shall be notified in writing within ten business days of the closing of an established branch office.
Rulemaking Authority Florida Statutes § 655.012(2). Law Implemented 657.008, 657.042 FS. History-New 6-16-78, Amended 10-13-81, Formerly 3C-30.29, Amended 7-2-87, Formerly 3C-30.029, Amended 10-8-95, Formerly 3C-110.008, Amended 3-6-07, 9-11-18.