Fla. Admin. Code Ann. R. 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.
Notes
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.
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