Florida Senate - 2019 (PROPOSED BILL) SPB 7056 FOR CONSIDERATION By the Committee on Banking and Insurance 597-00804-19 20197056pb 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 subject103 to the Open Government Sunset Review Act in accordance with s.104 119.15 and is repealed on October 2, 2019, unless reviewed and105 saved from repeal through reenactment by the Legislature.106 Section 2. This act shall take effect October 1, 2019.