Florida Senate - 2016                        COMMITTEE AMENDMENT
       Bill No. PCS (626078) for SB 1106
       
       
       
       
       
       
                                Ì710956?Î710956                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                   Comm: OO            .                                
                  03/01/2016           .                                
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       The Committee on Appropriations (Flores) recommended the
       following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Before line 39
    4  insert:
    5         Section 1. Section 655.969, Florida Statutes, is created to
    6  read:
    7         655.969 Correspondent accounts with a foreign financial
    8  institution.—A financial institution chartered in this state
    9  which maintains a correspondent account or a payable-through
   10  account with a foreign financial institution owned by a country
   11  under a sanctions program administered by the United States
   12  Department of the Treasury must, within 5 business days,
   13  identify and report the source of every transaction that passes
   14  through the foreign correspondent account to the office, and
   15  certify that the source does not involve any confiscated
   16  property as defined in the Cuban Liberty and Democratic
   17  Solidarity Act of 1996, 22 U.S.C. s. 6023(4) and (12).
   18  
   19  ================= T I T L E  A M E N D M E N T ================
   20  And the title is amended as follows:
   21         Delete line 2
   22  and insert:
   23         An act relating to transactions with foreign financial
   24         institutions; creating s. 655.969, F.S.; requiring
   25         financial institutions chartered in this state with
   26         certain correspondent or payable-through accounts to
   27         report specified information to the Office of
   28         Financial Regulation;