Section 69U-120.008 - Borrowing - Obligations to Repurchase Certain Securities Sold(1) For purposes of Section 658.53, F.S., a state bank's indebtedness or liability does not include obligations to repurchase, at the end of a stated period, securities sold if the securities are of the character and quality herein specified.(2) The securities referred to in this section are direct obligations of the United States Government and obligations of Agencies created by act of the United States Congress and authorized thereby to issue securities or evidences of indebtedness regardless of repayment by the United States Government.Fla. Admin. Code Ann. R. 69U-120.008
Rulemaking Authority 655.012(3), 655.061 FS. Law Implemented 658.53, 658.68 FS. (See also 12 U.S.C. Section 82)
New 3-12-78, Amended 6-30-81, Formerly 3C-11.18, 3C-11.018, 3C-120.008.New 3-12-78, Amended 6-30-81, Formerly 3C-11.18, 3C-11.018, 3C-120.008.