Florida Senate - 2019                                    SB 7056
       
       
        
       By the Committee on Banking and Insurance
       
       
       
       
       
       597-02484-19                                          20197056__
    1                        A bill to be entitled                      
    2         An act relating to a review under the Open Government
    3         Sunset Review Act; amending s. 662.148, F.S., relating
    4         to an exemption from public records requirements for
    5         certain information held by the Office of Financial
    6         Regulation relating to family trust companies,
    7         licensed family trust companies, and foreign licensed
    8         family trust companies; removing the scheduled repeal
    9         of the exemption; providing an effective date.
   10          
   11  Be It Enacted by the Legislature of the State of Florida:
   12  
   13         Section 1. Section 662.148, Florida Statutes, is amended to
   14  read:
   15         662.148 Public records exemption.—
   16         (1) DEFINITIONS.—As used in this section, the term:
   17         (a) “Reports of examinations, operations, or conditions”
   18  means records submitted to or prepared by the office as part of
   19  the office’s duties performed pursuant to s. 655.012 or s.
   20  655.045(1).
   21         (b) “Working papers” means the records of the procedure
   22  followed, the tests performed, the information obtained, and the
   23  conclusions reached in an examination under s. 655.032 or s.
   24  655.045. The term also includes books and records.
   25         (2) PUBLIC RECORDS EXEMPTION.—The following information
   26  held by the office is confidential and exempt from s. 119.07(1)
   27  and s. 24(a), Art. I of the State Constitution:
   28         (a) Any personal identifying information appearing in
   29  records relating to a registration, an application, or an annual
   30  certification of a family trust company, licensed family trust
   31  company, or foreign licensed family trust company.
   32         (b) Any personal identifying information appearing in
   33  records relating to an examination of a family trust company,
   34  licensed family trust company, or foreign licensed family trust
   35  company.
   36         (c) Any personal identifying information appearing in
   37  reports of examinations, operations, or conditions of a family
   38  trust company, licensed family trust company, or foreign
   39  licensed family trust company, including working papers.
   40         (d) Any portion of a list of names of the shareholders or
   41  members of a family trust company, licensed family trust
   42  company, or foreign licensed family trust company.
   43         (e) Information received by the office from a person from
   44  another state or nation or the Federal Government which is
   45  otherwise confidential or exempt pursuant to the laws of that
   46  state or nation or pursuant to federal law.
   47         (f) An emergency cease and desist order issued under s.
   48  662.143 until the emergency order is made permanent unless the
   49  office finds that such confidentiality will result in
   50  substantial risk of financial loss to the public.
   51         (3) AUTHORIZED RELEASE OF CONFIDENTIAL AND EXEMPT
   52  INFORMATION.—Information made confidential and exempt under
   53  subsection (2) may be disclosed by the office:
   54         (a) To the authorized representative or representatives of
   55  the family trust company, licensed family trust company, or
   56  foreign licensed family trust company under examination. The
   57  authorized representative or representatives shall be identified
   58  in a resolution or by written consent of the board of directors
   59  if the trust company is a corporation, or of the managers if the
   60  trust company is a limited liability company.
   61         (b) To a fidelity insurance company, upon written consent
   62  of the trust company’s board of directors if a corporation, or
   63  its managers if a limited liability company.
   64         (c) To an independent auditor, upon written consent of the
   65  trust company’s board of directors if a corporation, or its
   66  managers if a limited liability company.
   67         (d) To a liquidator, receiver, or conservator for a family
   68  trust company, licensed family trust company, or foreign
   69  licensed family trust company if a liquidator, receiver, or
   70  conservator is appointed. However, any portion of the
   71  information which discloses the identity of a bondholder,
   72  customer, family member, member, or stockholder must be redacted
   73  by the office before releasing such portion to the liquidator,
   74  receiver, or conservator.
   75         (e) To any other state, federal, or foreign agency
   76  responsible for the regulation or supervision of family trust
   77  companies, licensed family trust companies, or foreign licensed
   78  family trust companies.
   79         (f) To a law enforcement agency in the furtherance of the
   80  agency’s official duties and responsibilities.
   81         (g) To the appropriate law enforcement or prosecutorial
   82  agency for the purpose of reporting any suspected criminal
   83  activity.
   84         (h) Pursuant to a legislative subpoena. A legislative body
   85  or committee that receives records or information pursuant to
   86  such a subpoena must maintain the confidential status of such
   87  records or information, except in a case involving the
   88  investigation of charges against a public official subject to
   89  impeachment or removal, in which case records or information
   90  shall only be disclosed to the extent necessary as determined by
   91  such legislative body or committee.
   92         (4) PUBLICATION OF INFORMATION.—This section does not
   93  prevent or restrict the publication of:
   94         (a) A report required by federal law.
   95         (b) The name of the family trust company, licensed family
   96  trust company, or foreign licensed family trust company and the
   97  name and address of the registered agent of that company.
   98         (5) PENALTY.—A person who willfully discloses information
   99  made confidential and exempt by this section commits a felony of
  100  the third degree, punishable as provided in s. 775.082, s.
  101  775.083, or s. 775.084.
  102         (6) OPEN GOVERNMENT SUNSET REVIEW.—This section is subject
  103  to the Open Government Sunset Review Act in accordance with s.
  104  119.15 and is repealed on October 2, 2019, unless reviewed and
  105  saved from repeal through reenactment by the Legislature.
  106         Section 2. This act shall take effect October 1, 2019.