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Glossary of Legislative Terms

CS/CS/SB 1950: Financial Institutions

GENERAL BILL by Judiciary ; Banking and Insurance ; Gruters

Financial Institutions; Providing that the failure of foreign nationals to appear through video conference at certain hearings is grounds for denial of certain applications; providing that the imposition of fees or charges upon consumers for online audit verifications of financial institution accounts is a violation of the Florida Deceptive and Unfair Trade Practices Act; revising the interval for the Office of Financial Regulation to conduct certain examinations; authorizing the Office of Financial Regulation to delay examinations of financial institutions under certain circumstances; requiring the office, upon receiving applications for authority to organize a bank or trust company, to investigate the need for new bank facilities in a primary service area or target market and the ability of such service area or target market to support new and existing bank facilities, etc.

Effective Date: 7/1/2021
 Last Action: 4/30/2021 Senate - Died in Rules
Bill Text: Web Page | PDF
Senate Committee References:
  1. Banking and Insurance (BI)
  2. Judiciary (JU)
  3. Rules (RC)

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  • Bill History

    Date Chamber Action
    3/1/2021 Senate • Filed
    3/4/2021 Senate • Referred to Banking and Insurance; Judiciary; Rules -SJ 218
    3/10/2021 Senate • Introduced -SJ 218
    3/11/2021 Senate • On Committee agenda-- Banking and Insurance, 03/16/21, 9:30 am, 412 Knott Building
    3/16/2021 Senate • CS by Banking and Insurance; YEAS 12 NAYS 0 -SJ 272
    3/18/2021 Senate • Pending reference review under Rule 4.7(2) - (Committee Substitute)
    • Now in Judiciary
    • CS by Banking and Insurance read 1st time -SJ 279
    3/24/2021 Senate • On Committee agenda-- Judiciary, 03/29/21, 3:30 pm, 412 Knott Building
    3/29/2021 Senate • CS/CS by Judiciary; YEAS 11 NAYS 0 -SJ 343
    3/31/2021 Senate • Pending reference review under Rule 4.7(2) - (Committee Substitute)
    • Now in Rules
    4/1/2021 Senate • CS/CS by Judiciary read 1st time -SJ 353
    4/30/2021 Senate • Died in Rules

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  • CS/CS/SB 1950, Committee Substitute 2 (Current Bill Version) Posted 3/31/2021 at 11:21 AM

    Bill Text:   Web Page | PDF
    Analyses:   None

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 1641 Financial Institutions Buchanan Compare Last Action: 4/30/2021 H Died in Insurance & Banking Subcommittee Track This Bill

    Citations - Statutes (19)

    Citation Catchline Location in Bill Location In Bill Help
    120.80 Exceptions and special requirements; agencies. Page 3 (pdf)
    475.01 Definitions. Page 5 (pdf)
    501.2076 Page 5 (pdf)
    518.117 Permissible investments of fiduciary funds. Page 6 (pdf)
    655.045 Examinations, reports, and internal audits; penalty. Page 6 (pdf)
    655.414 Acquisition of assets; assumption of liabilities. Page 8 (pdf)
    655.50 Florida Control of Money Laundering and Terrorist Financing in Financial Institutions Act. Page 11 (pdf)
    657.021 Board of directors; executive committee. Page 12 (pdf)
    657.028 Activities of directors, officers, committee members, employees, and agents. Page 12 (pdf)
    658.12 Definitions. Page 12 (pdf)
    658.20 Investigation by office. Page 13 (pdf)
    658.21 Approval of application; findings required. Page 13 (pdf)
    658.28 Acquisition of control of a bank or trust company. Page 15 (pdf)
    658.2953 Interstate branching. Page 15 (pdf)
    662.1225 Requirements for a family trust company, licensed family trust company, or foreign licensed family trust company. Page 15 (pdf)
    662.128 Annual renewal. Page 16 (pdf)
    663.07 Asset maintenance or capital equivalency. Page 16 (pdf)
    663.532 Qualification. Page 17 (pdf)
    736.0802 Duty of loyalty. Page 20 (pdf)

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  • CS/SB 1950, Committee Substitute 1 Posted 3/18/2021 at 8:42 AM

    Bill Text:   Web Page | PDF
    Analyses:   Judiciary (Pre-Meeting) 3/26/2021 (pdf)
    Judiciary (Post-Meeting) 3/31/2021 (pdf)

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 1641 Financial Institutions Buchanan Similar Last Action: 4/30/2021 H Died in Insurance & Banking Subcommittee Track This Bill

    Committee Amendments (2)

    Amendment Sponsor Filed Last Committee Action Format
    786308 - Amendment
    Delete lines 192 - 524 and insert:     		Judiciary
    (Gruters)     		3/26/2021
    4:06 PM     		Replaced by Substitute Amendment
    3/29/2021     		Web Page
    PDF
    hierarchy 104868 - Substitute Amendment (786308)
    Delete lines 192 - 524 and insert:     		Judiciary
    (Gruters)     		3/29/2021
    1:26 PM     		Replaced by Committee Substitute
    3/30/2021     		Web Page
    PDF

    Committee Votes (1)

    Date Committee Result
    3/29/2021 3:30 PM Judiciary 11 Yeas - 0 Nays

    Citations - Statutes (20)

    Citation Catchline Location in Bill Location In Bill Help
    120.80 Exceptions and special requirements; agencies. Page 3 (pdf)
    475.01 Definitions. Page 5 (pdf)
    501.2076 Page 5 (pdf)
    518.117 Permissible investments of fiduciary funds. Page 6 (pdf)
    655.045 Examinations, reports, and internal audits; penalty. Page 6 (pdf)
    655.414 Acquisition of assets; assumption of liabilities. Page 8 (pdf)
    655.50 Florida Control of Money Laundering and Terrorist Financing in Financial Institutions Act. Page 11 (pdf)
    657.021 Board of directors; executive committee. Page 12 (pdf)
    657.042 Investment powers and limitations. Page 12 (pdf)
    658.12 Definitions. Page 13 (pdf)
    658.20 Investigation by office. Page 13 (pdf)
    658.21 Approval of application; findings required. Page 14 (pdf)
    658.265 Page 15 (pdf)
    658.28 Acquisition of control of a bank or trust company. Page 16 (pdf)
    658.2953 Interstate branching. Page 16 (pdf)
    662.1225 Requirements for a family trust company, licensed family trust company, or foreign licensed family trust company. Page 17 (pdf)
    662.128 Annual renewal. Page 17 (pdf)
    663.07 Asset maintenance or capital equivalency. Page 17 (pdf)
    663.532 Qualification. Page 19 (pdf)
    736.0802 Duty of loyalty. Page 19 (pdf)

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  • SB 1950, Original Filed Version Posted 3/1/2021 at 11:17 AM

    Bill Text:   Web Page | PDF
    Analyses:   Banking and Insurance (Pre-Meeting) 3/15/2021 (pdf)
    Banking and Insurance (Post-Meeting) 3/17/2021 (pdf)

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 1641 Financial Institutions Buchanan Similar Last Action: 4/30/2021 H Died in Insurance & Banking Subcommittee Track This Bill

    Committee Amendments (1)

    Amendment Sponsor Filed Last Committee Action Format
    590092 - Amendment
    Delete lines 190 - 559 and insert:     		Banking and Insurance
    (Gruters)     		3/15/2021
    9:01 AM     		Replaced by Committee Substitute
    3/16/2021     		Web Page
    PDF

    Committee Votes (1)

    Date Committee Result
    3/16/2021 9:30 AM Banking and Insurance 12 Yeas - 0 Nays

    Citations - Statutes (21)

    Citation Catchline Location in Bill Location In Bill Help
    120.80 Exceptions and special requirements; agencies. Page 3 (pdf)
    475.01 Definitions. Page 5 (pdf)
    501.2076 Page 5 (pdf)
    518.117 Permissible investments of fiduciary funds. Page 6 (pdf)
    655.045 Examinations, reports, and internal audits; penalty. Page 6 (pdf)
    655.414 Acquisition of assets; assumption of liabilities. Page 8 (pdf)
    655.50 Florida Control of Money Laundering and Terrorist Financing in Financial Institutions Act. Page 11 (pdf)
    657.021 Board of directors; executive committee. Page 12 (pdf)
    657.042 Investment powers and limitations. Page 12 (pdf)
    658.12 Definitions. Page 13 (pdf)
    658.20 Investigation by office. Page 13 (pdf)
    658.21 Approval of application; findings required. Page 14 (pdf)
    658.265 Page 15 (pdf)
    658.28 Acquisition of control of a bank or trust company. Page 16 (pdf)
    658.2953 Interstate branching. Page 16 (pdf)
    662.122 Registration of a family trust company or a foreign licensed family trust company. Page 17 (pdf)
    662.1225 Requirements for a family trust company, licensed family trust company, or foreign licensed family trust company. Page 17 (pdf)
    662.128 Annual renewal. Page 17 (pdf)
    663.07 Asset maintenance or capital equivalency. Page 18 (pdf)
    663.532 Qualification. Page 19 (pdf)
    736.0802 Duty of loyalty. Page 20 (pdf)

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