House Bill 2169

    Florida House of Representatives - 1999                HB 2169

        By Representative Goodlette






  1                      A bill to be entitled

  2         An act relating to real estate brokers and

  3         salespersons; amending s. 475.011, F.S.;

  4         providing an exemption from regulation under

  5         pt. I, ch. 475, F.S., relating to real estate

  6         brokers, salespersons, and schools, for any

  7         federally registered securities dealer, or any

  8         federally insured depository institution and

  9         any parent, subsidiary, or affiliate thereof,

10         in connection with the sale, exchange,

11         purchase, or rental of a business enterprise to

12         or by an accredited investor; providing an

13         effective date.

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15  Be It Enacted by the Legislature of the State of Florida:

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17         Section 1.  Subsection (12) is added to section

18  475.011, Florida Statutes, 1998 Supplement, to read:

19         475.011  Exemptions.--This part does not apply to:

20         (12)  Any dealer registered under the Securities

21  Exchange Act of 1934, as amended, or any federally insured

22  depository institution and any parent, subsidiary, or

23  affiliate thereof, in connection with the sale, exchange,

24  purchase, or rental of a business enterprise to or by a person

25  who is an accredited investor as defined by 15 U.S.C. s. 77b,

26  the Securities Act of 1933, as amended, or any regulation

27  adopted thereunder. This exemption shall apply whether stock

28  or assets of the business enterprise are purchased or sold.

29  The exemption shall not apply to a sale, exchange, purchase,

30  or rental of land, buildings, fixtures, or other improvements

31  to the land which is not made in connection with the sale,

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CODING: Words stricken are deletions; words underlined are additions.






    Florida House of Representatives - 1999                HB 2169

    704-111A-99






  1  exchange, purchase, or rental of a business enterprise. Any

  2  reference to rental in this subsection shall include a lease

  3  transaction.

  4         Section 2.  This act shall take effect upon becoming a

  5  law.

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  8                          HOUSE SUMMARY

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      Provides an exemption from regulation under pt. I, ch.
10    475, F.S., relating to real estate brokers, salespersons,
      and schools, for any federally registered securities
11    dealer, or any federally insured depository institution
      and any parent, subsidiary, or affiliate thereof, in
12    connection with the sale, exchange, purchase, or rental
      of a business enterprise to or by an accredited investor.
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