Florida Senate - 2016                      CS for CS for SB 1094
       
       
        
       By the Committees on Governmental Oversight and Accountability;
       and Banking and Insurance; and Senator Flores
       
       585-03643A-16                                         20161094c2
    1                        A bill to be entitled                      
    2         An act relating to public records; creating s.
    3         663.097, F.S.; defining terms; providing an exemption
    4         from public records requirements for certain
    5         information held by the Office of Financial Regulation
    6         relating to international trust entities; authorizing
    7         the release of certain confidential and exempt
    8         information by the office; authorizing the publication
    9         of certain information; providing for future
   10         legislative review and repeal of the exemption;
   11         providing a statement of public necessity; providing a
   12         contingent effective date.
   13          
   14  Be It Enacted by the Legislature of the State of Florida:
   15  
   16         Section 1. Section 663.097, Florida Statutes, is created to
   17  read:
   18         663.097 Public records exemption.—
   19         (1) DEFINITIONS.—As used in this section, the term:
   20         (a) “Internal corporate information or documents” means the
   21  articles of organization, bylaws, or other organizational
   22  documents of the entity or organization applying for the
   23  moratorium pursuant to s. 663.041 or of the international trust
   24  entity that are not publicly disclosed or are confidential under
   25  the laws of the home country jurisdiction where the
   26  international trust entity is organized or doing business.
   27         (b)“International trust entity” has the same definition as
   28  in s. 663.01(8).
   29         (c) “Working papers” means the records of the procedure
   30  followed, the tests performed, the information obtained, and the
   31  conclusions reached in processing an application under s.
   32  663.041.
   33         (2) PUBLIC RECORDS EXEMPTION.—The following information
   34  held by the office is confidential and exempt from s. 119.07(1)
   35  and s. 24(a), Art. I of the State Constitution:
   36         (a)All internal corporate documents of an organization or
   37  entity applying for a moratorium under s. 663.041 or of an
   38  international trust entity submitted pursuant to s. 663.041;
   39         (b) The names of the officers, directors, and shareholders
   40  of an international trust entity, if such names are otherwise
   41  confidential under the laws of the home country jurisdiction of
   42  the international trust entity;
   43         (c) Documentation provided to or from the supervisory or
   44  regulatory authority or equivalent, or other similarly
   45  sanctioned body, organization, governmental entity, or
   46  recognized authority that has licensing, chartering, oversight,
   47  or similar responsibilities over the international trust entity;
   48         (d) Information received by the office from a person from
   49  another state or nation or the Federal Government which is
   50  otherwise confidential or exempt pursuant to the laws of that
   51  state or nation or pursuant to federal law; and
   52         (e) The working papers of the office in processing the
   53  application under s. 663.041.
   54         (3) AUTHORIZED RELEASE OF CONFIDENTIAL AND EXEMPT
   55  INFORMATION.—Information made confidential and exempt under
   56  subsection (2) may be disclosed by the office:
   57         (a) To the authorized representative or representatives of
   58  the organization or entity applying for a moratorium under s.
   59  663.041. For that entity’s confidential and exempt information
   60  that has been submitted to the office, the authorized
   61  representative or representatives of that entity shall be
   62  identified in a resolution or by written consent of the board of
   63  directors if the organization or entity is a corporation, or of
   64  the managers if the organization or entity is a limited
   65  liability company.
   66         (b) To a fidelity insurance company or liability insurer,
   67  upon written consent of the organization or entity’s board of
   68  directors if a corporation, or of its managers if a limited
   69  liability company.
   70         (c) To an independent auditor.
   71         (d) To a liquidator, receiver, or conservator for the
   72  organization or entity if a liquidator, receiver, or conservator
   73  is appointed.
   74         (e) To another governmental entity in the furtherance of
   75  that entity’s official duties and responsibilities.
   76         (f) Pursuant to a legislative subpoena. A legislative body
   77  or committee that receives records or information pursuant to a
   78  subpoena must maintain the confidential status of such records
   79  or information, except in a case involving the investigation of
   80  charges against a public official subject to impeachment or
   81  removal, in which case records or information may be disclosed
   82  only to the extent necessary as determined by the legislative
   83  body or committee.
   84         (g) Pursuant to federal law.
   85         (4) PUBLICATION OF INFORMATION.—Notwithstanding any
   86  provision to the contrary, this section does not make
   87  confidential and exempt from s. 119.07(1) and s. 24(a), Art. I
   88  of the State Constitution:
   89         (a) The name of the organization or entity applying for the
   90  moratorium under s. 663.041 or of any international trust entity
   91  for which it provides services.
   92         (b) The name and business address of the directors,
   93  managers, officers, or registered agent of the organization or
   94  entity applying for moratorium under s. 663.041.
   95         (5) OPEN GOVERNMENT SUNSET REVIEW.—This section is subject
   96  to the Open Government Sunset Review Act in accordance with s.
   97  119.15 and shall stand repealed on October 2, 2021, unless
   98  reviewed and saved from repeal through reenactment by the
   99  Legislature.
  100         Section 2. (1) The Legislature finds that it is a public
  101  necessity that the following information in records held by the
  102  Office of Financial Regulation be confidential and exempt from
  103  s. 119.07(1), Florida Statutes, and s. 24(a), Article I of the
  104  State Constitution: All internal corporate documents of an
  105  organization or entity applying for a moratorium under s.
  106  663.041 or of an international trust entity submitted pursuant
  107  to s. 663.041; the names of the officers, directors, and
  108  shareholders of an international trust entity if such names are
  109  otherwise confidential under the laws of the home country
  110  jurisdiction of the international trust entity; documentation
  111  provided to or from the supervisory or regulatory authority or
  112  equivalent, or other similarly sanctioned body, organization,
  113  governmental entity, or recognized authority that has licensing,
  114  chartering, oversight, or similar responsibilities over the
  115  international trust entity; information received by the office
  116  from a person from another state or nation or the Federal
  117  Government which is otherwise confidential or exempt pursuant to
  118  the laws of that state or nation or pursuant to federal law; and
  119  the working papers of the office in processing the application
  120  under s. 663.041.
  121         (2)The Office of Financial Regulation is required to
  122  obtain the names of the officers and directors of an
  123  international trust entity and to determine whether the
  124  organization or entity has met the requirements for the
  125  moratorium, including proof of the corporate standing of the
  126  international trust entity and that it is not operating under
  127  the direct control of the government, regulatory, or supervisory
  128  authority of the jurisdiction of its incorporation. In certain
  129  cases, such proof may require submission to the office of
  130  internal corporate documents or shareholder lists that are not
  131  otherwise available to the public and that are considered
  132  confidential under the laws of the home country jurisdiction.
  133  Likewise, in certain jurisdictions, the names of the officers
  134  and directors are confidential under the laws of that
  135  jurisdiction. The office also may receive documentation provided
  136  to or from the supervisory or regulatory authority or
  137  equivalent, or other similarly sanctioned body, organization,
  138  governmental entity, or recognized authority that has licensing,
  139  chartering, oversight, or similar responsibilities over the
  140  international trust entity. To the extent that the home country
  141  laws of the jurisdiction in which the international trust entity
  142  is located or organized considers this information and these
  143  documents confidential, they should not lose their confidential
  144  status solely because the office reviews them in processing the
  145  application for the moratorium. The exemption does not apply if
  146  the home country jurisdiction of the international trust entity
  147  does not consider such information or documents confidential.
  148         Section 3. This act shall take effect on the same date that
  149  SB 1106 or similar legislation takes effect, if such legislation
  150  is adopted in the same legislative session or an extension
  151  thereof and becomes a law.