CS/HB 823

1
A bill to be entitled
2An act relating to loan processing; amending s. 494.001,
3F.S.; creating and revising definitions; deleting a
4redundant definition; amending s. 494.0011, F.S.;
5specifying rulemaking powers of the Financial Services
6Commission; amending s. 494.0018, F.S.; revising cross-
7references; amending s. 494.0025, F.S.; prohibiting acting
8as an in-house loan processor without a specified license;
9amending s. 494.00255, F.S.; including licensed in-house
10loan processors in disciplinary provisions; amending s.
11494.00312, F.S.; providing that a loan originator license
12may not be issued to a person who has had an in-house loan
13processor license or its equivalent revoked in any
14jurisdiction; creating s. 494.00314, F.S.; providing for
15licensing of in-house loan processors; providing
16application requirements; specifying when an application
17is considered received; providing grounds for denial of
18licensure; prohibiting issuance of licenses to applicants
19who have had certain licenses revoked in other
20jurisdictions; providing for annulment of licenses in
21certain circumstances; requiring annual renewal of
22licenses; prohibiting an in-house loan processor from
23acting as a loan originator without a loan originator
24license; authorizing a licensed loan originator to act as
25an in-house loan processor without an in-house loan
26processor license; creating s. 494.00315, F.S.; providing
27for license renewals; amending s. 494.00331, F.S.;
28providing that specified provisions do not apply to a
29licensed contract loan processor who has on file with the
30office a declaration of intent to act solely as a contract
31loan processor; deleting a definition; providing
32restrictions on employment of persons licensed as in-house
33loan processors; amending s. 494.0035, F.S.; clarifying
34provisions concerning operation of mortgage brokers;
35amending s. 494.0038, F.S.; revising provisions relating
36to disclosure of settlement charges and loan terms;
37amending s. 494.00421, F.S.; revising an agency reference
38in the mortgage broker agreement; providing that a
39borrower may contact the Office of Financial Regulation
40rather than the Department of Financial Services regarding
41any complaints against a loan originator; amending s.
42494.00611, F.S.; providing that a mortgage lender license
43may not be issued to an applicant if any of the
44applicant's control persons has ever had an in-house loan
45processor license or its equivalent revoked in any
46jurisdiction; amending s. 494.00612, F.S.; requiring that
47in order to renew a mortgage lender license a mortgage
48lender must authorize the Nationwide Mortgage Licensing
49System and Registry to obtain an independent credit report
50on each of the mortgage lender's control persons; amending
51s. 494.0067, F.S.; requiring each mortgage lender to
52submit certain reports to the registry as may be required;
53providing an effective date.
54
55Be It Enacted by the Legislature of the State of Florida:
56
57     Section 1.  Subsections (5) through (9), (10) through (14),
58(15) through (24), and (26) through (34) of section 494.001,
59Florida Statutes, are renumbered as subsections (6) through
60(10), (12) through (16), (18) through (27), and (28) through
61(36), respectively, new subsections (5), (11), and (17) are
62added to that section, and present subsections (14), (25), and
63(26) of that section are amended, to read:
64     494.001  Definitions.-As used in ss. 494.001-494.0077, the
65term:
66     (5)  "Contract loan processor" means an individual who is
67licensed under part II of this chapter as a loan originator, who
68is an independent contractor for a mortgage broker or mortgage
69lender, and who engages only in loan processing.
70     (11)  "In-house loan processor" means an individual who is
71an employee of a mortgage broker or a mortgage lender who
72engages only in loan processing.
73     (16)(14)  "Loan originator" means an individual who,
74directly or indirectly, solicits or offers to solicit a mortgage
75loan, accepts or offers to accept an application for a mortgage
76loan, negotiates or offers to negotiate the terms or conditions
77of a new or existing mortgage loan on behalf of a borrower or
78lender, processes a mortgage loan application, or negotiates or
79offers to negotiate the sale of an existing mortgage loan to a
80noninstitutional investor for compensation or gain. The term
81includes an individual who is required to be licensed as a loan
82originator under the activities of a loan originator as that
83term is defined in the S.A.F.E. Mortgage Licensing Act of 2008,
84and an individual acting as a loan originator pursuant to that
85definition is acting as a loan originator for purposes of this
86definition. The term does not include an employee of a mortgage
87broker or mortgage lender whose duties are limited to who
88performs only administrative or clerical tasks, including
89quoting available interest rates, physically handling a
90completed application form, or transmitting a completed
91application form to a lender on behalf of a prospective
92borrower.
93     (17)  "Loan processing" means:
94     (a)  Receiving, collecting, distributing, and analyzing
95information common for the processing of a mortgage loan; or
96     (b)  Communicating with a consumer to obtain information
97necessary for the processing of a mortgage loan, if such
98communication does not include offering or negotiating loan
99rates or terms, or counseling consumers about residential
100mortgage loan rates or terms.
101     (25)  "Person" has the same meaning as in s. 1.01.
102     (28)(26)  "Principal loan originator" means the licensed
103loan originator in charge of, and responsible for, the operation
104of a mortgage lender or mortgage broker, including all of the
105activities of the mortgage lender's or mortgage broker's loan
106originators, in-house loan processors, and branch managers,
107whether employees or independent contractors.
108     Section 2.  Subsection (2) of section 494.0011, Florida
109Statutes, is amended to read:
110     494.0011  Powers and duties of the commission and office.-
111     (2)  To administer ss. 494.001-494.0077, The commission may
112adopt rules to administer parts I, II, and III of this chapter,
113including rules:
114     (a)  Requiring electronic submission of any forms,
115documents, or fees required by this act.
116     (b)  Relating to compliance with the S.A.F.E. Mortgage
117Licensing Act of 2008, including rules to:
118     1.  Require in-house loan processors, loan originators,
119mortgage brokers, mortgage lenders, and branch offices to
120register through the registry.
121     2.  Require the use of uniform forms that have been
122approved by the registry, and any subsequent amendments to such
123forms if the forms are substantially in compliance with the
124provisions of this chapter. Uniform forms that the commission
125may adopt include, but are not limited to:
126     a.  Uniform Mortgage Lender/Mortgage Broker Form, MU1.
127     b.  Uniform Mortgage Biographical Statement & Consent Form,
128MU2.
129     c.  Uniform Mortgage Branch Office Form, MU3.
130     d.  Uniform Individual Mortgage License/Registration &
131Consent Form, MU4.
132     3.  Require the filing of forms, documents, and fees in
133accordance with the requirements of the registry.
134     4.  Prescribe requirements for amending or surrendering a
135license or other activities as the commission deems necessary
136for the office's participation in the registry.
137     5.  Prescribe procedures that allow a licensee to challenge
138information contained in the registry.
139     6.  Prescribe procedures for reporting violations of this
140chapter and disciplinary actions on licensees to the registry.
141     (c)  Establishing time periods during which an in-house
142loan processor, a loan originator, a mortgage broker, or a
143mortgage lender license applicant under part II or part III is
144barred from licensure due to prior criminal convictions of, or
145guilty or nolo contendere pleas by, any of the applicant's
146control persons, regardless of adjudication.
147     1.  The rules must provide:
148     a.  Permanent bars for felonies involving fraud,
149dishonesty, breach of trust, or money laundering;
150     b.  A 15-year disqualifying period for felonies involving
151moral turpitude;
152     c.  A 7-year disqualifying period for all other felonies;
153and
154     d.  A 5-year disqualifying period for misdemeanors
155involving fraud, dishonesty, or any other act of moral
156turpitude.
157     2.  The rules may provide for an additional waiting period
158due to dates of imprisonment or community supervision, the
159commitment of multiple crimes, and other factors reasonably
160related to the applicant's criminal history.
161     3.  The rules may provide for mitigating factors for crimes
162identified in sub-subparagraph 1.b. However, the mitigation may
163not result in a period of disqualification less than 7 years.
164The rule may not mitigate the disqualifying periods in sub-
165subparagraphs 1.a., 1.c., and 1.d.
166     4.  An applicant is not eligible for licensure until the
167expiration of the disqualifying period set by rule.
168     5.  Section 112.011 is not applicable to eligibility for
169licensure under this part.
170     Section 3.  Subsection (1) of section 494.0018, Florida
171Statutes, is amended to read:
172     494.0018  Penalties.-
173     (1)  Whoever knowingly violates any provision of s.
174494.00255(1)(a), (b), or (c) or s. 494.0025(1), (3)(2), (4)(3),
175(5)(4), or (6)(5), except as provided in subsection (2) of this
176section, commits a felony of the third degree, punishable as
177provided in s. 775.082, s. 775.083, or s. 775.084. Each such
178violation constitutes a separate offense.
179     Section 4.  Subsections (2) through (10) of section
180494.0025, Florida Statutes, are renumbered as subsections (3)
181through (11), respectively, and a new subsection (2) is added to
182that section to read:
183     494.0025  Prohibited practices.-It is unlawful for any
184person:
185     (2)  To act as an in-house loan processor in this state
186without a current, active in-house loan processor license issued
187by the office pursuant to part II of this chapter.
188     Section 5.  Paragraphs (n) and (p) of subsection (1),
189paragraph (f) of subsection (2), and subsections (3), (4), (5),
190(6), and (8) of section 494.00255, Florida Statutes, are
191amended, and paragraph (m) of subsection (1) is reenacted, to
192read:
193     494.00255  Administrative penalties and fines; license
194violations.-
195     (1)  Each of the following acts constitutes a ground for
196which the disciplinary actions specified in subsection (2) may
197be taken against a person licensed or required to be licensed
198under part II or part III of this chapter:
199     (m)  In any mortgage transaction, violating any provision
200of the federal Real Estate Settlement Procedures Act, as
201amended, 12 U.S.C. ss. 2601 et seq.; the federal Truth in
202Lending Act, as amended, 15 U.S.C. ss. 1601 et seq.; or any
203regulations adopted under such acts.
204     (n)  Having a loan originator, an in-house loan processor,
205a mortgage broker, or a mortgage lender license, or the
206equivalent of such license, revoked in any jurisdiction.
207     (p)  Acting as a loan originator, an in-house loan
208processor, a mortgage broker, or a mortgage lender without a
209current license issued under part II or part III of this
210chapter.
211     (2)  If the office finds a person in violation of any act
212specified in this section, it may enter an order imposing one or
213more of the following penalties:
214     (f)  An administrative fine of up to $1,000 per day, but
215not to exceed $25,000 cumulatively, for each day that:
216     1.  A mortgage broker or mortgage lender conducts business
217at an unlicensed branch office.
218     2.  An unlicensed person acts as a loan originator, an in-
219house loan processor, a mortgage broker, or a mortgage lender.
220     (3)  A mortgage broker or mortgage lender, as applicable,
221is subject to the disciplinary actions specified in subsection
222(2) for a violation of subsection (1) by:
223     (a)  A control person of the mortgage broker or mortgage
224lender; or
225     (b)  A loan originator employed by or contracting with the
226mortgage broker or mortgage lender; or
227     (c)  An in-house loan processor who is an employee of the
228mortgage broker or mortgage lender.
229     (4)  A principal loan originator of a mortgage broker is
230subject to the disciplinary actions specified in subsection (2)
231for violations of subsection (1) by a loan originator or an in-
232house loan processor in the course of an association with the
233mortgage broker if there is a pattern of repeated violations by
234the loan originator or in-house loan processor or if the
235principal loan originator has knowledge of the violations.
236     (5)  A principal loan originator of a mortgage lender is
237subject to the disciplinary actions specified in subsection (2)
238for violations of subsection (1) by a loan originator or an in-
239house loan processor in the course of an association with a
240mortgage lender if there is a pattern of repeated violations by
241the loan originator or in-house loan processor or if the
242principal loan originator has knowledge of the violations.
243     (6)  A branch manager is subject to the disciplinary
244actions specified in subsection (2) for violations of subsection
245(1) by a loan originator or an in-house loan processor in the
246course of an association with the mortgage broker or mortgage
247lender if there is a pattern of repeated violations by the loan
248originator or in-house loan processor or if the branch manager
249has knowledge of the violations.
250     (8)  Pursuant to s. 120.60(6), the office may summarily
251suspend the license of a loan originator, an in-house loan
252processor, a mortgage broker, or a mortgage lender if the office
253has reason to believe that a licensee poses an immediate,
254serious danger to the public's health, safety, or welfare. The
255arrest of the licensee, or the mortgage broker or the mortgage
256lender's control person, for any felony or any crime involving
257fraud, dishonesty, breach of trust, money laundering, or any
258other act of moral turpitude is deemed sufficient to constitute
259an immediate danger to the public's health, safety, or welfare.
260Any proceeding for the summary suspension of a license must be
261conducted by the commissioner of the office, or designee, who
262shall issue the final summary order.
263     Section 6.  Subsection (5) of section 494.00312, Florida
264Statutes, is amended to read:
265     494.00312  Loan originator license.-
266     (5)  The office may not issue a license to an applicant who
267has had a loan originator or an in-house loan processor license
268or its equivalent revoked in any jurisdiction.
269     Section 7.  Section 494.00314, Florida Statutes, is created
270to read:
271     494.00314  In-house loan processor license.-
272     (1)  An individual acting as an in-house loan processor
273must be licensed under this section.
274     (2)  In order to apply for an in-house loan processor
275license, an applicant must:
276     (a)  Be at least 18 years of age and have a high school
277diploma or its equivalent.
278     (b)  Submit a completed license application form as
279prescribed by commission rule.
280     (c)  Submit a nonrefundable application fee of $100.
281Application fees may not be prorated for partial years of
282licensure.
283     (d)  Submit fingerprints in accordance with rules adopted
284by the commission.
285     1.  The fingerprints must be submitted to a live-scan
286vendor authorized by the Department of Law Enforcement.
287     2.  A state criminal history background check must be
288conducted through the Department of Law Enforcement, and a
289federal criminal history check must be conducted through the
290Federal Bureau of Investigation.
291     3.  All fingerprints submitted to the Department of Law
292Enforcement must be submitted electronically and entered into
293the statewide automated fingerprint identification system
294established in s. 943.05(2)(b) and available for use in
295accordance with s. 943.05(2)(g) and (h). The office shall pay an
296annual fee to the department to participate in the system and
297inform the department of any person whose fingerprints are no
298longer required to be retained.
299     4.  The costs of fingerprint processing, including the cost
300of retaining fingerprints, shall be borne by the person subject
301to the background check.
302     5.  The office is responsible for reviewing the results of
303the state and federal criminal history checks and determining
304whether the applicant meets licensure requirements.
305     (e)  Submit additional information or documentation
306requested by the office and required by rule concerning the
307applicant. Additional information may include documentation of
308pending or prior disciplinary or criminal history events,
309including arrest reports and certified copies of charging
310documents, plea agreements, judgments and sentencing documents,
311documents relating to pretrial intervention, orders terminating
312probation or supervised release, final administrative agency
313orders, or other comparable documents that may provide the
314office with the appropriate information to determine eligibility
315for licensure.
316     (f)  Submit any other information required by the registry
317for processing the application.
318     (3)  An application is considered received for the purposes
319of s. 120.60 upon the office's receipt of all documentation from
320the registry, including the completed application form, criminal
321history information, and license application fee.
322     (4)  The office shall issue an in-house loan processor
323license to each person who is not otherwise ineligible and who
324meets the requirements of this section. However, it is a ground
325for denial of licensure if the applicant:
326     (a)  Has committed any violation specified in ss. 494.001-
327494.0077; or
328     (b)  Is the subject of a pending felony criminal
329prosecution or a prosecution or an administrative enforcement
330action in any jurisdiction which involves fraud, dishonesty,
331breach of trust, money laundering, or any other act of moral
332turpitude.
333     (5)  The office may not issue a license to an applicant who
334has had an in-house loan processor or loan originator license or
335its equivalent revoked in any jurisdiction.
336     (6)  An in-house loan processor license shall be annulled
337pursuant to s. 120.60 if it was issued by the office by mistake.
338A license must be reinstated if the applicant demonstrates that
339the requirements for obtaining the license have been satisfied.
340     (7)  All in-house loan processor licenses must be renewed
341annually by December 31, pursuant to s. 494.00315. If a person
342holding an active license has not applied to renew the license
343on or before December 31, the license expires on December 31. If
344a person holding an active license has applied to renew on or
345before December 31, the license remains active until the renewal
346application is approved or denied. An in-house loan processor is
347not precluded from reapplying for licensure upon expiration of a
348previous license.
349     (8)  An in-house loan processor licensed under this section
350may not act as a loan originator without a loan originator
351license issued under this part.
352     (9)  A loan originator licensed under this part may also
353act as an in-house loan processor without an in-house loan
354processor license.
355     Section 8.  Section 494.00315, Florida Statutes, is created
356to read:
357     494.00315  In-house loan processor license renewal.-In
358order to renew an in-house loan processor license, an in-house
359loan processor must:
360     (1)  Submit a completed license renewal form as prescribed
361by commission rule.
362     (2)  Submit a nonrefundable renewal fee of $75 and
363nonrefundable fees to cover the costs of further fingerprint
364processing and retention as set forth in commission rule.
365     (3)  Submit any additional information or documentation
366requested by the office and required by rule concerning the
367licensee. Additional information may include documentation of
368pending and prior disciplinary and criminal history events,
369including arrest reports and certified copies of charging
370documents, plea agreements, judgments and sentencing documents,
371documents relating to pretrial intervention, orders terminating
372probation or supervised release, final administrative agency
373orders, or other comparable documents that may provide the
374office with the appropriate information to determine eligibility
375for renewal of licensure.
376     Section 9.  Section 494.00331, Florida Statutes, is amended
377to read:
378     494.00331  Loan originator and loan processor employment.-
379     (1)  LOAN ORIGINATORS.-An individual may not act as a loan
380originator unless he or she is an employee of, or an independent
381contractor for, a mortgage broker or a mortgage lender, and may
382not be employed by or contract with more than one mortgage
383broker or mortgage lender, or either simultaneously.
384     (2)  CONTRACT LOAN PROCESSORS.-Subsection (1) However, this
385provision does not apply to a contract loan processor who has a
386declaration of intent to act solely as a contract loan processor
387on file with the office. The declaration of intent must be on a
388form as prescribed by commission rule any licensed loan
389originator who acts solely as a loan processor and contracts
390with more than one mortgage broker or mortgage lender, or either
391simultaneously.
392     (2)  For purposes of this section, the term "loan
393processor" means an individual who is licensed as a loan
394originator who engages only in:
395     (a)  The receipt, collection, distribution, and analysis of
396information common for the processing or underwriting of a
397residential mortgage loan; or
398     (b)  Communication with consumers to obtain the information
399necessary for the processing or underwriting of a loan, to the
400extent that such communication does not include offering or
401negotiating loan rates or terms or does not include counseling
402consumers about residential mortgage loan rates or terms.
403     (3)  A person may not act as a loan processor unless the
404person is licensed as a loan originator under this chapter and
405has on file with the office a declaration of intent to engage
406solely in loan processing. The declaration of intent must be on
407such form as prescribed by the commission by rule.
408     (a)(4)  A loan originator that currently has a declaration
409of intent to engage solely in loan processing on file with the
410office may withdraw his or her declaration of intent to engage
411solely in loan processing. The withdrawal of declaration of
412intent must be on such form as prescribed by commission rule.
413     (b)(5)  A declaration of intent or a withdrawal of
414declaration of intent is effective upon receipt by the office.
415     (c)(6)  The fee earned by a contract loan processor may be
416paid to the company that employs the loan processor without
417violating the restriction in s. 494.0025(8)(7) requiring fees or
418commissions to be paid to a licensed mortgage broker or mortgage
419lender or a person exempt from licensure under this chapter.
420     (3)  IN-HOUSE LOAN PROCESSORS.-An individual may not act as
421an in-house loan processor unless he or she is an employee of a
422mortgage broker or a mortgage lender and may not be employed by
423more than one mortgage broker or mortgage lender, or either,
424simultaneously. An in-house loan processor must work at the
425direction of and be subject to the supervision and instruction
426of a loan originator licensed under this part.
427     Section 10.  Subsection (1) of section 494.0035, Florida
428Statutes, is amended to read:
429     494.0035  Principal loan originator and branch manager for
430mortgage broker.-
431     (1)  Each mortgage broker must be operated by a principal
432loan originator who shall have full charge, control, and
433supervision of the mortgage broker business. The principal loan
434originator must have been licensed as a loan originator for at
435least 1 year before being designated as the principal loan
436originator, or must demonstrate to the satisfaction of the
437office that he or she has been actively engaged in a mortgage-
438related mortgage broker-related business for at least 1 year
439before being designated as a principal loan originator. Each
440mortgage broker must keep the office informed of the person
441designated as the principal loan originator as prescribed by
442commission rule. If the designation is inaccurate, the mortgage
443broker business shall be deemed to be operated under the full
444charge, control, and supervision of each officer, director, or
445ultimate equitable owner of a 10-percent or greater interest in
446the mortgage broker, or any other person in a similar capacity.
447A loan originator may not be a principal loan originator for
448more than one mortgage broker at any given time.
449     Section 11.  Paragraph (c) of subsection (3) of section
450494.0038, Florida Statutes, is amended to read:
451     494.0038  Loan origination and mortgage broker fees and
452disclosures.-
453     (3)  At the time a written mortgage broker agreement is
454signed by the borrower or forwarded to the borrower for
455signature, or at the time the mortgage broker business accepts
456an application fee, credit report fee, property appraisal fee,
457or any other third-party fee, but at least 3 business days
458before execution of the closing or settlement statement, the
459mortgage broker shall disclose in writing to any applicant for a
460mortgage loan the following information:
461     (c)  A good faith estimate that discloses settlement
462charges and loan terms, signed and dated by the borrower, which
463discloses the total amount of each of the fees the borrower may
464reasonably expect to pay if the loan is closed, including, but
465not limited to, fees earned by the mortgage broker, lender fees,
466third-party fees, and official fees, together with the terms and
467conditions for obtaining a refund of such fees, if any.
468     1.  Any amount collected in excess of the actual cost shall
469be returned within 60 days after rejection, withdrawal, or
470closing.
471     2.  At the time a good faith estimate is provided to the
472borrower, the loan originator must identify in writing an
473itemized list that provides the recipient of all payments
474charged the borrower, which, except for all fees to be received
475by the mortgage broker, may be disclosed in generic terms, such
476as, but not limited to, paid to lender, appraiser, officials,
477title company, or any other third-party service provider. This
478requirement does not supplant or is not a substitute for the
479written mortgage broker agreement described in subsection (1).
480The disclosure required under this subparagraph must be signed
481and dated by the borrower.
482     Section 12.  Paragraph (a) of subsection (7) of section
483494.00421, Florida Statutes, is amended to read:
484     494.00421  Fees earned upon obtaining a bona fide
485commitment.-Notwithstanding the provisions of ss. 494.001-
486494.0077, any mortgage broker which contracts to receive a loan
487origination fee from a borrower upon obtaining a bona fide
488commitment shall accurately disclose in the mortgage broker
489agreement:
490     (7)(a)  The following statement, in at least 12-point
491boldface type immediately above the signature lines for the
492borrowers:
493     "You are entering into a contract with a mortgage broker to
494obtain a bona fide mortgage loan commitment under the same terms
495and conditions as stated hereinabove or in a separate executed
496good faith estimate form. If the mortgage broker obtains a bona
497fide commitment under the same terms and conditions, you will be
498obligated to pay the loan origination fees even if you choose
499not to complete the loan transaction. If the provisions of s.
500494.00421, Florida Statutes, are not met, the loan origination
501fee can only be earned upon the funding of the mortgage loan.
502The borrower may contact the Office of Financial Regulation
503Department of Financial Services, Tallahassee, Florida,
504regarding any complaints that the borrower may have against the
505loan originator. The telephone number of the office department
506is: ...(insert telephone number)...."
507     Section 13.  Subsection (5) of section 494.00611, Florida
508Statutes, is amended to read:
509     494.00611  Mortgage lender license.-
510     (5)  The office may not issue a license if the applicant
511has had a mortgage lender license or its equivalent revoked in
512any jurisdiction, or any of the applicant's control persons has
513ever had a loan originator or an in-house loan processor license
514or its equivalent revoked in any jurisdiction.
515     Section 14.  Paragraph (e) of subsection (1) of section
516494.00612, Florida Statutes, is amended to read:
517     494.00612  Mortgage lender license renewal.-
518     (1)  In order to renew a mortgage lender license, a
519mortgage lender must:
520     (e)  Authorize the registry to obtain an independent credit
521report on each of the mortgage lender's control persons lender
522from a consumer reporting agency, and transmit or provide access
523to the report to the office. The cost of the credit report shall
524be borne by the licensee.
525     Section 15.  Subsection (13) is added to section 494.0067,
526Florida Statutes, to read:
527     494.0067  Requirements of mortgage lenders.-
528     (13)  Each mortgage lender shall submit to the registry
529reports of condition which are in a form and which contain such
530information as the registry may require.
531     Section 16.  This act shall take effect January 1, 2012.


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