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Code · Florida · Title XXXVIII — Banks and Banking · Chapter 655

655.416 Book value of assets.

76 words·~1 min read·/fl/title-xxxviii/chapter-655/655-416

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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 institution at the time of its last examination by a state or federal examiner before such effective date without written approval from the office.
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