FL S1332

Revises definitions in financial institutions codes including "affiliate," "bank holding company," "capital accounts," and new terms like "home state," "host state," and "out-of-state financial institution."

Authorizes the Office of Financial Regulation to appoint provisional directors and executive officers for state financial institutions with insufficient board members or management qualifications, specifying their rights and protections from liability.

Updates examination and accounting requirements for state financial institutions, allowing more flexible examination schedules based on risk profiles and requiring compliance with United States generally accepted accounting principles.

Revises merger and acquisition procedures for financial entities, including provisions for conversion of charters, acquisition of assets, and emergency actions for failing institutions, with updated criteria for office approval.

Modifies lending and investment limitations for banks and credit unions by including derivatives transactions and repurchase agreements in liability calculations, and requires financial institutions to establish written risk evaluation policies and procedures.

Repeals outdated provisions related to remote financial service units, the Florida Interstate Banking Act, and control of deposit-taking institutions; updates interstate branching provisions consistent with federal banking laws.