SENATE AMENDMENT
    Bill No. CS for SB 1130   Barcode 804136
    Amendment No. 1
                            CHAMBER ACTION
              Senate                               House
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11  The Committee on Commerce and Economic Opportunities
12  recommended the following amendment:
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14         Senate Amendment 
15         On page 6, line 20 through page 7, line 2, delete those
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18  and insert:  
19         1.  Reasonable costs and expenses of forming and,
20  syndicating the certified capital company, including
21  professional fees and the costs of financing and insuring the
22  obligations of the certified capital company; provided,
23  however, no more than one insurance company or affiliate
24  thereof may receive a qualified distribution from that
25  certified capital company and its affiliates related to
26  providing a guarantee, indemnity, bond, insurance policy, or
27  other payment undertaking in favor of the certified capital
28  company's certified investors. The total cash, cash
29  equivalents, or other assets readily available to the
30  certified capital company at the time of receipt of certified
31  capital from certified investors, after deducting the costs
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    4:10 PM   03/21/01                                 s1130.cm.01


                                                  SENATE AMENDMENT
    Bill No. CS for SB 1130   Barcode 804136
    Amendment No. 1
 1  and expenses of forming and syndicating the certified capital
 2  company, including any payments made over time for obligations
 3  incurred at the time of receipt of certified capital excluding
 4  other future qualified distributions and payments made under
 5  paragraph (9)(a), must be an amount equal to or greater than
 6  50 percent of the total certified capital allocated to the
 7  certified capital company pursuant to subsection (9);
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    4:10 PM   03/21/01                                 s1130.cm.01