SENATE AMENDMENT

    Bill No. CS for SB 1056

    Amendment No.    

                            CHAMBER ACTION
              Senate                               House
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11  Senator Kurth moved the following amendment:

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13         Senate Amendment (with title amendment) 

14         On page 5, between lines 24 and 25,

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16  insert:

17         Section 3.  Subsection (3) of section 626.8473, Florida

18  Statutes, is amended to read:

19         626.8473  Escrow; trust fund.--

20         (3)  All funds received by a title insurance agent to

21  be held in trust shall be immediately placed in an escrow

22  trust account in a financial institution that is located

23  within this state and is a member of the Federal Deposit

24  Insurance Corporation. These funds shall be invested in an

25  escrow account in accordance with the investment requirements

26  and standards established for deposits and investments of

27  state funds in s. 18.10 insured by an agency of the federal

28  government and located within this state, where the funds

29  shall be kept until disbursement thereof is properly

30  authorized.

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    4:27 PM   04/14/98                              s1056c1c-15c6b




                                                  SENATE AMENDMENT

    Bill No. CS for SB 1056

    Amendment No.    





 1  (Redesignate subsequent sections.)

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 4  ================ T I T L E   A M E N D M E N T ===============

 5  And the title is amended as follows:

 6         On page 1, line 14, after the semicolon

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 8  insert:

 9         amending s. 626.8473, F.S.; providing for funds

10         to be held in trust by a title insurance agent

11         to be held in the same manner required for

12         deposits of state funds;

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    4:27 PM   04/14/98                              s1056c1c-15c6b