HOUSE AMENDMENT
                                                  Bill No. HB 1449
    Amendment No. ___ (for drafter's use only)
                            CHAMBER ACTION
              Senate                               House
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 5                                           ORIGINAL STAMP BELOW
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11  The Council for Competitive Commerce offered the following:
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13         Amendment (with title amendment) 
14         On page 7, line 7 through page 8,line 9
15  remove from the bill:  all of said lines
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17  and insert in lieu thereof:  
18         Section 6.  Subsection (8) of section 559.803, Florida
19  Statutes, is amended, present subsections (11), (12), and (13)
20  of that section are renumbered as subsections (12), (13), and
21  (14), respectively, and a new subsection (11) is added to that
22  section, to read:
23         559.803  Disclosure statement.--At least 3 working days
24  prior to the time the purchaser signs a business opportunity
25  contract, or at least 3 working days prior to the receipt of
26  any consideration by the seller, whichever occurs first, the
27  seller must provide the prospective purchaser a written
28  document, the cover sheet of which is entitled in at least
29  12-point boldfaced capital letters "DISCLOSURES REQUIRED BY
30  FLORIDA LAW."  Under this title shall appear the following
31  statement in at least 10-point type:  "The State of Florida
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    File original & 9 copies    04/18/01                          
    hag0009                     03:35 pm         01449-ccc -752211

HOUSE AMENDMENT Bill No. HB 1449 Amendment No. ___ (for drafter's use only) 1 has not reviewed and does not approve, recommend, endorse, or 2 sponsor any business opportunity. The information contained 3 in this disclosure has not been verified by the state. If you 4 have any questions about this investment, see an attorney 5 before you sign a contract or agreement." Nothing except the 6 title and required statement shall appear on the cover sheet. 7 Immediately following the cover sheet, the seller must provide 8 an index page that briefly lists the contents of the 9 disclosure document as required in this section and any pages 10 on which the prospective purchaser can find each required 11 disclosure. At the top of the index page, the following 12 statement must appear in at least 10-point type: "The State of 13 Florida requires sellers of business opportunities to disclose 14 certain information to prospective purchasers. This index is 15 provided to help you locate this information." If the index 16 contains other information not required by this section, the 17 seller shall place a designation beside each of the 18 disclosures required by this section and provide an 19 explanation of the designation at the end of the statement at 20 the top of the index page. The disclosure document shall 21 contain the following information: 22 (8) If the business opportunity seller is required to 23 secure a bond, guaranteed letter of credit, or certificate of 24 deposit or establish a trust deposit pursuant to s. 559.807, 25 either of the following statements: 26 (a) "As required by Florida law, the seller has 27 secured a bond issued by ...., a surety company authorized to 28 do business in this state. Before signing a contract to 29 purchase this business opportunity, you should confirm the 30 bond's status with the surety company."; or 31 (b) "As required by Florida law, the seller has 2 File original & 9 copies 04/18/01 hag0009 03:35 pm 01449-ccc -752211
HOUSE AMENDMENT Bill No. HB 1449 Amendment No. ___ (for drafter's use only) 1 established a trust account or guaranteed letter of credit or 2 certificate of deposit ...(number of account)... with ...(name 3 and address of bank or savings institution).... Before 4 signing a contract to purchase this business opportunity, you 5 should confirm with the bank or savings institution the 6 current status of the trust account or guaranteed letter of 7 credit or certificate of deposit." 8 9 10 ================ T I T L E A M E N D M E N T =============== 11 And the title is amended as follows: 12 On page 1, line 16 after the ";" 13 14 insert: 15 revising statements that must be placed in 16 disclosure documents; 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 3 File original & 9 copies 04/18/01 hag0009 03:35 pm 01449-ccc -752211