69U-105.111. Final Orders

(1) Final orders on applications for cross-industry conversions, cross-industry mergers, cross-industry acquisitions of all or substantially all of the assets of another financial institution, new banks, new trust companies, new associations, new savings banks, new credit unions, and conversion applications of federal financial institutions to state-chartered financial institutions, excluding applications involving a foreign national, shall be issued within 180 days after receipt of the original application, or receipt of timely requested additional information and/or corrections of errors or omissions, or within 30 days after conclusion of a public hearing held on the application, whichever is later. The final order on all other applications, excluding applications involving a foreign national, shall be issued within 90 days after receipt of the original application, or receipt of timely requested additional information and/or the correction of errors or omissions, within 15 days after the conclusion of a public hearing held on the application, or within 45 days after the written report is submitted to OFR and the parties, whichever is later. The final order on all applications involving a foreign national shall be issued within 1 year after receipt of the original application, or receipt of timely requested additional information and/or the correction of errors or omissions, or within 30 days after conclusion of the public hearing held on the application, whichever is later.

(2) For purposes of this chapter, Section 120.60(1) and Section 120.80(3), F.S., the public hearing shall not be deemed concluded until the presiding officer or administrative law judge submits his report together with the complete public record to OFR, or the presiding officer or administrative law judge orders the case dismissed or otherwise terminated.

(3) The final order shall contain a short and plain statement summarizing matters presented, separately-stated findings of fact based exclusively on competent substantial evidence in the record, and conclusions of law. If a party submits exceptions as provided in Rule 69U-105.110, F.A.C., the final order shall include a ruling upon each exception. The final order shall state with particularity the grounds or basis for the issuance or denial of the license or merger request.

(4) An applicant and OFR may agree to extend the time in which to render a final order on an application. Such extensions shall serve to continue the time in which to render a final order to the date agreed in such extensions.

Specific Authority 655.012(3), 655.411(2) FS. Law Implemented 120.60(1), 120.80(3), 655.012, 665.013 FS. History–New 11-1-77, Amended 8-3-78, 3-12-79, 5-27-81, 3-8-83, Formerly 3C-9.12, 3C-9.012, Amended 8-14-94, 4-15-98, Formerly 3C-105.111.