Regulatory Alerts2026-08-27
Added
Final Order on Petition for Declaratory Statement Regarding Use of Name Mineral Bank, LLC
Use of the name "Mineral Bank" or "Mineral Bank LLC" by the Petitioner, a non-financial institution, to solicit or transact business in Florida would violate section 655.922, Florida Statutes. Section 655.922(2)(a) prohibits any entity that is not a financial institution authorized to do business in the state from transacting or soliciting business under any name containing the word "bank," with no statutory exceptions for non-financial repositories or absence of consumer confusion. This Declaratory Statement applies solely to the Petitioner and the specific issue of utilizing the name in Florida, based on the assertions of fact contained in the Petition filed under section 120.565, Florida Statutes.
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