Florida Senate - 2015                        COMMITTEE AMENDMENT
       Bill No. SB 568
       
       
       
       
       
       
                                Ì704630vÎ704630                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  03/04/2015           .                                
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       The Committee on Banking and Insurance (Richter) recommended the
       following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Delete lines 274 - 276
    4  and insert:
    5         Section 10. Subsections (4) and (7) of section 662.132,
    6  Florida Statutes, are amended to read:
    7         662.132 Investments.—
    8         (4) Notwithstanding any other law, a family trust company
    9  or licensed family trust company may, while acting as a
   10  fiduciary, purchase directly from underwriters or broker-dealers
   11  distributors or in the secondary market:
   12         (a) Bonds or other securities underwritten or brokered
   13  distributed by:
   14         1. The family trust company or licensed family trust
   15  company;
   16         2. A family affiliate; or
   17         3. A syndicate, including the family trust company,
   18  licensed family trust company, or family affiliate.
   19         (b) Securities of an investment company, including a mutual
   20  fund, closed-end fund, or unit investment trust, as defined
   21  under the federal Investment Company Act of 1940, for which the
   22  family trust company or licensed family trust company acts as an
   23  advisor, custodian, distributor, manager, registrar, shareholder
   24  servicing agent, sponsor, or transfer agent.
   25  
   26  ================= T I T L E  A M E N D M E N T ================
   27  And the title is amended as follows:
   28         Between lines 30 and 31
   29  insert:
   30         revising the authority of specified family trust
   31         companies while acting as fiduciaries to purchase
   32         certain bonds and securities;