§ 159.414, Fla. Stat. · Part II. FLORIDA INDUSTRIAL DEVELOPMENTFINANCING ACT
Authority to deal with financial institution which employs a board member.
Text — 2026 Florida Statutes
Notwithstanding any general or special law, rule, regulation, or ordinance to the contrary, including ss. 112.311-112.326, a board may sell its bonds to a financial institution, as defined in s. 655.005, which employs a member of the board as an officer, director, or employee and may appoint a financial institution to serve as trustee or cotrustee under a trust indenture relating to bonds issued under this part, notwithstanding the fact that an officer, director, or employee of the financial institution is a member of the board. However, no member of the board who is an officer, director, or employee of a financial institution which is interested in purchasing or serving as trustee or cotrustee for a proposed or outstanding bond issue shall vote on any matter related to such bond issue after the interest of the financial institution in such bond issue becomes known to the member.
Notes and commentary — not statutory text
History
s. 2, ch. 81-321; s. 42, ch. 83-217; s. 196, ch. 92-303; s. 885, ch. 95-147.
Source of truth
- Edition
- 2026 Florida Statutes
- Official file
- https://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0100-0199/0159/0159.html
- Text hash
- sha256 2ec4ad5e207ad9a3f2e0429f7336c6899b1fb1ea6355da85076d004be306bce4
- Composed by
- compose_v2.py 2026-10-04: the Legislature's structured HTML read in document order; verify_v2.py's independent reading agrees character for character
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This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
The Florida Statutes
- § 112.311, Fla. Stat.Legislative intent and declaration of policy.Printed as ss. 112.311-112.326
- § 112.326, Fla. Stat.Additional requirements by political subdivisions and agencies not prohibited; certain procedures preempted.Printed as ss. 112.311-112.326
- § 655.005, Fla. Stat.Definitions.Printed as s. 655.005
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.