Division of Administrative Hearings, Florida
Filed: Oct. 19, 1989
Section 658.28(1), Florida Statutes, provides, in pertinent part, the following: (1) In any case in which a person or a group of persons, directly or indirectly or acting by or through one or more persons, proposes to purchase or acquire a control- ling interest in any state bank or state trust company, and thereby to change the control of the bank or trust company, each person or group of persons shall first make application to the department for a certi- ficate of approval of such proposed change of control of the bank or trust company. . . . The department shall issue a certificate of approval only after it has made an investigation and determined that the proposed new owner or owners of the interest are qualified by reputation, character, experience, and financial responsibility to control and operate theReport of public hearing on application of foreign national to acquire control of Key Biscayne Bank and Trust, a state-chartered bank.
