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The Committee on Banking and Insurance (Posey) recommended the

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following amendment:

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     Senate Amendment (with title amendment)

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     Delete everything after the enacting clause

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and insert:

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     Section 1.  Section 877.101, Florida Statutes, is created to

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read:

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     877.101 Escrow business by unauthorized persons; use of

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name.--

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     (1) Except as provided in subsection (2), in connection

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with the purchase and sale of real property a person may not:

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     (a) Transact business under any name or title that contains

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the word "escrow" or words of similar import; or

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     (b)1. Use any name, word, sign, symbol, or device in any

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context or in any manner; or

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     2. Circulate or use any letterhead, billhead, circular,

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paper, or writing of any kind, or otherwise advertise or

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represent in any manner,

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which indicates or reasonably implies that the business being

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conducted or advertised is the kind or character of business

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transacted that is regulated by this state as an escrow agent.

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     (2) This section, does not apply to:

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     (a) A financial institution as defined in s. 655.005;

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     (b) An attorney who is a member of The Florida Bar or his

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or her law firm;

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     (c) A person who is licensed pursuant to chapter 475 or his

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or her brokerage firm; or

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     (d) A title insurance agent who is licensed pursuant to s.

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626.8417, a title insurance agency that is licensed pursuant to

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s. 626.8418, or a title insurer who is authorized to transact

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business in this state pursuant to s. 624.401.

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     (3) Any person aggrieved by a violation of this section may

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bring an action in a court of competent jurisdiction to obtain a

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declaratory judgment that an act or practice violates this

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section.

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     (4) In any action brought by a person who has suffered a

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loss as a result of a violation of this section, such person may

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recover actual damages, plus attorney's fees and court costs.

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     (5) Any person who willfully violates this section commits

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a misdemeanor of the first degree, punishable as provided in s.

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775.082, s. 775.083, or s. 775.084.

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     Section 2.  This act shall take effect July 1, 2008.

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

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And the title is amended as follows:

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     Delete everything before the enacting clause

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and insert:

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A bill to be entitled

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An act relating to escrow agents; creating s. 877.101,

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F.S.; prohibiting unauthorized persons from transacting

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business using the term "escrow" in a name or a title

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under certain circumstances; providing certain exceptions

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to such prohibition; authorizing a person aggrieved by a

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violation of the act to bring an action for declaratory

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relief; providing for recovery by an injured person of

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actual damages, plus attorney's fees and court costs;

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providing criminal penalties; providing an effective date.

4/14/2008  8:55:00 AM     597-07422A-08