December 09, 2019
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The Florida Statutes

The 2001 Florida Statutes

Title XXXVIII
Banks And Banking
Chapter 655
Financial Institutions Generally
View Entire Chapter
Section 655.057, Florida Statutes 2001

655.057  Records; limited restrictions upon public access.--

(1)  Except as otherwise provided in this section and except for such portions thereof which are otherwise public record, all records and information relating to an investigation by the department are confidential and exempt from the provisions of s. 119.07(1) until such investigation is completed or ceases to be active. For purposes of this subsection, an investigation is considered "active" while such investigation is being conducted by the department with a reasonable, good faith belief that it may lead to the filing of administrative, civil, or criminal proceedings. An investigation does not cease to be active if the department is proceeding with reasonable dispatch, and there is a good faith belief that action may be initiated by the department or other administrative or law enforcement agency. After an investigation is completed or ceases to be active, portions of such records relating to the investigation shall be confidential and exempt from the provisions of s. 119.07(1) to the extent that disclosure would:

(a)  Jeopardize the integrity of another active investigation;

(b)  Impair the safety and soundness of the financial institution;

(c)  Reveal personal financial information;

(d)  Reveal the identity of a confidential source;

(e)  Defame or cause unwarranted damage to the good name or reputation of an individual or jeopardize the safety of an individual; or

(f)  Reveal investigative techniques or procedures.

(2)  Except as otherwise provided in this section and except for such portions thereof which are public record, reports of examinations, operations, or condition, including working papers, or portions thereof, prepared by, or for the use of, the department or any state or federal agency responsible for the regulation or supervision of financial institutions in this state are confidential and exempt from the provisions of s. 119.07(1). However, such reports or papers or portions thereof may be released to:

(a)  The financial institution under examination;

(b)  Any holding company of which the financial institution is a subsidiary;

(c)  Proposed purchasers if necessary to protect the continued financial viability of the financial institution, upon prior approval by the board of directors of such institution;

(d)  Persons proposing in good faith to acquire a controlling interest in or to merge with the financial institution, upon prior approval by the board of directors of such financial institution;

(e)  Any officer, director, committee member, employee, attorney, auditor, or independent auditor officially connected with the financial institution, holding company, proposed purchaser, or person seeking to acquire a controlling interest in or merge with the financial institution; or

(f)  A fidelity insurance company, upon approval of the financial institution's board of directors. However, a fidelity insurance company may receive only that portion of an examination report relating to a claim or investigation being conducted by such fidelity insurance company.

(g)  Examination, operation, or condition reports of a financial institution shall be released by the department within 1 year after the appointment of a liquidator, receiver, or conservator to such financial institution. However, any portion of such reports which discloses the identities of depositors, bondholders, members, borrowers, or stockholders, other than directors, officers, or controlling stockholders of the institution, shall remain confidential and exempt from the provisions of s. 119.07(1).

Any confidential information or records obtained from the department pursuant to this paragraph shall be maintained as confidential and exempt from the provisions of s. 119.07(1).

(3)  The provisions of this section do not prevent or restrict:

(a)  Publishing reports required to be submitted to the department pursuant to s. 655.045(2)(a) or required by applicable federal statutes or regulations to be published.

(b)  Furnishing records or information to any other state, federal, or foreign agency responsible for the regulation or supervision of financial institutions, including Federal Home Loan Banks.

(c)  Furnishing records or information, in the case of a credit union, to the Florida Credit Union Guaranty Corporation, Inc.

(d)  Disclosing or publishing summaries of the condition of financial institutions and general economic and similar statistics and data, provided that the identity of a particular financial institution is not disclosed.

(e)  Reporting any suspected criminal activity, with supporting documents and information, to appropriate law enforcement and prosecutorial agencies.

(f)  Furnishing information upon request to the State Treasurer regarding the financial condition of any financial institution that is, or has applied to be, designated as a qualified public depository pursuant to chapter 280.

Any confidential information or records obtained from the department pursuant to this subsection shall be maintained as confidential and exempt from the provisions of s. 119.07(1).

(4)(a)  Orders of courts or of administrative law judges for the production of confidential records or information shall provide for inspection in camera by the court or the administrative law judge and, after the court or administrative law judge has made a determination that the documents requested are relevant or would likely lead to the discovery of admissible evidence, said documents shall be subject to further orders by the court or the administrative law judge to protect the confidentiality thereof. Any order directing the release of information shall be immediately reviewable, and a petition by the department for review of such order shall automatically stay further proceedings in the trial court or the administrative hearing until the disposition of such petition by the reviewing court. If any other party files such a petition for review, it will operate as a stay of such proceedings only upon order of the reviewing court.

(b)  Confidential records and information furnished pursuant to a legislative subpoena shall be kept confidential by the legislative body or committee which received the records or information, except in a case involving investigation of charges against a public official subject to impeachment or removal, and then disclosure of such information shall be only to the extent determined by the legislative body or committee to be necessary.

(5)  Every credit union and mutual association shall maintain, in the principal office where its business is transacted, full and correct records of the names and residences of all the members of the credit union or mutual association. Such records shall be subject to the inspection of all the members of the credit union or mutual association, and the officers authorized to assess taxes under state authority, during business hours of each business day. A current list of members shall be made available to the department's examiners for their inspection and, upon the request of the department, shall be submitted to the department. Except as otherwise provided in this subsection, the list of the members of the credit union or mutual association is confidential and exempt from the provisions of s. 119.07(1).

(6)  Every bank, trust company, and stock association shall maintain, in the principal office where its business is transacted, full and complete records of the names and residences of all the shareholders of the bank, trust company, or stock association and the number of shares held by each. Such records shall be subject to the inspection of all the shareholders of the bank, trust company, or stock association, and the officers authorized to assess taxes under state authority, during business hours of each banking day. A current list of shareholders shall be made available to the department's examiners for their inspection and, upon the request of the department, shall be submitted to the department. Except as otherwise provided in this subsection, any portion of this list which reveals the identities of the shareholders is confidential and exempt from the provisions of s. 119.07(1).

(7)  Materials supplied to the department or to employees of any financial institution by other governmental agencies, federal or state, or the Florida Credit Union Guaranty Corporation, Inc., shall remain the property of the submitting agency or the corporation, and any document request must be made to the appropriate agency. Any confidential documents supplied to the department or to employees of any financial institution by other governmental agencies, federal or state, or by the Florida Credit Union Guaranty Corporation, Inc., shall be confidential and exempt from the provisions of s. 119.07(1). Such information shall be made public only with the consent of such agency or the corporation.

(8)  Examination reports, investigatory records, applications, and related information compiled by the department, or photographic copies thereof, shall be retained by the department for a period of at least 10 years.

(9)  A copy of any document on file with the department which is certified by the department as being a true copy may be introduced in evidence as if it were the original. The department shall establish a schedule of fees for preparing true copies of documents.

(10)  Any person who willfully discloses information made confidential by this section is guilty of a felony of the third degree, punishable as provided in s. 775.082, s. 775.083, or s. 775.084.

History.--s. 1, ch. 80-273; s. 441, ch. 81-259; s. 9, ch. 84-216; s. 1, ch. 85-65; s. 4, ch. 85-82; s. 13, ch. 88-185; s. 6, ch. 89-229; s. 1, ch. 91-307; ss. 1, 3, 28, 216, ch. 92-303; s. 412, ch. 96-406; s. 292, ch. 96-410.

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