Florida Senate - 2014                                    SB 1012
       
       
        
       By Senator Richter
       
       
       
       
       
       23-00424C-14                                          20141012__
    1                        A bill to be entitled                      
    2         An act relating to financial institutions; amending s.
    3         655.005, F.S.; revising the definition of “related
    4         interest”; amending s. 655.0322, F.S.; revising
    5         provisions relating to prohibited acts and practices
    6         by a financial institution; applying certain
    7         provisions to affiliates; amending s. 655.034, F.S.;
    8         authorizing the circuit court to issue an injunction
    9         in order to protect the interests of the depositors,
   10         members, creditors, or stockholders of a financial
   11         institution and the public’s interest in the safety
   12         and soundness of the financial institution system;
   13         defining “formal enforcement action”; amending s.
   14         655.037, F.S.; conforming a cross-reference; amending
   15         s. 655.0385, F.S.; prohibiting a director or executive
   16         officer from concurrently serving as a director or
   17         officer in a financial institution or affiliate in the
   18         same geographical area or the same major business
   19         market area unless waived by the Office of Financial
   20         Regulation; amending s. 655.041, F.S.; revising
   21         provisions relating to administrative fines;
   22         clarifying that the office may initiate administrative
   23         proceedings for violations of rules; providing that
   24         fines for violations begin accruing immediately upon
   25         the service of a complaint; applying certain
   26         provisions to affiliates; revising the applications
   27         for imposing a fine; amending s. 655.045, F.S.;
   28         authorizing the office to conduct a joint or
   29         concurrent examination of a financial institution
   30         within a specified period; amending s. 655.057, F.S.;
   31         conforming a cross-reference; providing that specified
   32         records are not considered a waiver of privileges or
   33         legal rights in certain proceedings; clarifying who
   34         has a right to copy member or shareholder records;
   35         creating s. 655.0591, F.S.; providing notice
   36         requirements and procedures that allow a financial
   37         institution to protect trade secrets included in
   38         documents submitted to the office; amending s. 655.50,
   39         F.S.; amending provisions relating to the control of
   40         money laundering to also include terrorist financing;
   41         adding and revising definitions; requiring a financial
   42         institution to have a BSA/AML compliance officer;
   43         updating cross-references; amending s. 655.85, F.S.;
   44         clarifying that an institution may impose a fee for
   45         the settlement of a check under certain circumstances;
   46         providing legislative intent; amending s. 655.921,
   47         F.S.; revising provisions relating to business
   48         transactions by an out-of-state financial institution;
   49         providing that such institution may file suit to
   50         collect a security interest in collateral; amending s.
   51         655.922, F.S.; revising provisions relating to the
   52         name of a financial institution; prohibiting certain
   53         financial institutions from using a name that may
   54         mislead consumers; authorizing the office to seek
   55         court orders to annul or dissolve a business entity
   56         for certain violations and to issue emergency cease
   57         and desist orders; amending s. 657.008, F.S.;
   58         requiring certain credit unions seeking to establish a
   59         branch office to submit an application to the office
   60         for examination and approval; providing the criteria
   61         for the examination; amending s. 657.028, F.S.;
   62         revising provisions relating to prohibited activities
   63         of directors, officers, committee members, employees,
   64         and agents of credit unions; requiring the name and
   65         address of the credit manager to be submitted to the
   66         office; amending s. 657.041, F.S.; authorizing a
   67         credit union to pay health and accident insurance
   68         premiums and to fund employee benefit plans under
   69         certain circumstances; amending s. 658.12, F.S.;
   70         revising the definition of “trust business”; amending
   71         ss. 658.21 and 658.235, F.S.; conforming cross
   72         references; repealing s. 658.49, F.S., relating to
   73         requirements for bank loans up to $50,000; amending
   74         ss. 663.02 and 663.09, F.S.; conforming provisions to
   75         changes made by the act; amending s. 663.12, F.S.;
   76         deleting an annual assessment imposed on certain
   77         international offices; amending s. 663.306, F.S.;
   78         conforming provisions to changes made by the act;
   79         amending ss. 665.013, 665.033, 665.034, 667.003,
   80         667.006, and 667.008, F.S.; conforming cross
   81         references; providing an effective date.
   82          
   83  Be It Enacted by the Legislature of the State of Florida:
   84  
   85         Section 1. Paragraph (t) of subsection (1) of section
   86  655.005, Florida Statutes, is amended to read:
   87         655.005 Definitions.—
   88         (1) As used in the financial institutions codes, unless the
   89  context otherwise requires, the term:
   90         (t) “Related interest” means, with respect to a any
   91  person:,
   92         1. The person’s spouse, partner, sibling, parent, child, or
   93  other dependent individual residing in the same household as the
   94  person;. With respect to any person, the term means
   95         2. A company, partnership, corporation, or other business
   96  organization controlled by the person. A person has control if
   97  the person:
   98         a.1. Owns, controls, or has the power to vote 25 percent or
   99  more of any class of voting securities of the organization;
  100         b.2. Controls in any manner the election of a majority of
  101  the directors of the organization; or
  102         c.3. Has the power to exercise a controlling influence over
  103  the management or policies of the organization; or.
  104         3. An individual, company, partnership, corporation, or
  105  other business organization that engages in a common business
  106  enterprise with that person. A common business enterprise exists
  107  if:
  108         a. The expected source for repayment of a loan or extension
  109  of credit is the same for each borrower and neither borrower has
  110  another source of income from which the loan, together with the
  111  borrower’s other obligations, may be fully repaid. An employer
  112  will not be treated as a source of repayment under this
  113  paragraph because of wages and salaries paid to an employee,
  114  unless the standards of sub-subparagraph b. are met;
  115         b. Loans or extensions of credit are made:
  116         (I) To borrowers who are directly or indirectly related
  117  through common control, including where one borrower is directly
  118  or indirectly controlled by another borrower; and
  119         (II) Substantial financial interdependence exists between
  120  or among the borrowers. Substantial financial interdependence
  121  exists if 50 percent or more of one borrower’s gross receipts or
  122  gross expenditures on an annual basis are derived from
  123  transactions with the other borrower. Gross receipts and
  124  expenditures include gross revenues and expenses, intercompany
  125  loans, dividends, capital contributions, and similar receipts or
  126  payments;
  127         c. Separate persons borrow from a financial institution to
  128  acquire a business enterprise such that those borrowers will own
  129  more than 50 percent of the voting securities or voting
  130  interests of the enterprise, in which case a common enterprise
  131  is deemed to exist between the borrowers for purposes of
  132  combining the acquisition loans; or
  133         d. The office determines, based upon an evaluation of the
  134  facts and circumstances of particular transactions, that a
  135  common enterprise exists.
  136         Section 2. Section 655.0322, Florida Statutes, is amended
  137  to read:
  138         655.0322 Prohibited acts and practices; criminal
  139  penalties.—
  140         (1) As used in this section, the term “financial
  141  institution” means a financial institution as defined in s.
  142  655.005 s. 655.50 which includes a state trust company, state or
  143  national bank, state or federal association, state or federal
  144  savings bank, state or federal credit union, Edge Act or
  145  agreement corporation, international bank agency, international
  146  branch, representative office or administrative office or other
  147  business entity as defined by the commission by rule, whether
  148  organized under the laws of this state, the laws of another
  149  state, or the laws of the United States, which institution is
  150  located in this state.
  151         (2) A It is unlawful for any financial institution
  152  affiliated party may not to ask for, or willfully and knowingly
  153  receive or consent to receive for himself or herself or any
  154  related interest, a any commission, emolument, gratuity, money,
  155  property, or thing of value for:
  156         (a) Procuring, or endeavoring to procure, for any person a
  157  loan or extension of credit from such financial institution,
  158  affiliate, subsidiary, or service corporation; or
  159         (b) Procuring, or endeavoring to procure, the purchase or
  160  discount of any note, draft, check, bill of exchange, or other
  161  obligation by such financial institution, affiliate, subsidiary,
  162  or service corporation.
  163  
  164  Any person who violates this subsection commits is guilty of a
  165  felony of the third degree, punishable as provided in s.
  166  775.082, s. 775.083, or s. 775.084.
  167         (3) A It is unlawful for any financial institution
  168  affiliated party may not to:
  169         (a) Knowingly receive or possess himself or herself of any
  170  of such financial institution’s its property other otherwise
  171  than in payment of a just demand, or and, with intent to deceive
  172  or defraud, to omit to make or cause to be made a full and true
  173  entry thereof in the financial institution’s its books and
  174  accounts, or concur in omitting to make any material entry
  175  thereof;
  176         (b) Embezzle, abstract, or misapply any money, property, or
  177  thing of value of such the financial institution, affiliate,
  178  subsidiary, or service corporation with intent to deceive or
  179  defraud the such financial institution, affiliate, subsidiary,
  180  or service corporation;
  181         (c) Knowingly make, draw, issue, put forth, or assign any
  182  certificate of deposit, draft, order, bill of exchange,
  183  acceptance, note, debenture, bond or other obligation, mortgage,
  184  judgment, or decree without authority from the board of
  185  directors of such financial institution;
  186         (d) Make a any false entry in any book, report, or
  187  statement of such financial institution, affiliate, subsidiary,
  188  or service corporation with intent to deceive or defraud the
  189  such financial institution, affiliate, subsidiary, or service
  190  corporation, or another person, firm, or corporation, or with
  191  intent to deceive the office, any other appropriate federal or
  192  state regulatory agency, or an any authorized representative
  193  appointed to examine the affairs of the such financial
  194  institution, affiliate, subsidiary, or service corporation; or
  195         (e) Deliver or disclose to the office or any of its
  196  employees an application, any examination report, report of
  197  condition, report of income and dividends, internal audit,
  198  account, statement, or other document known by him or her to be
  199  fraudulent or false as to any material matter.
  200  
  201  Any person who violates this subsection commits is guilty of a
  202  felony of the third degree, punishable as provided in s.
  203  775.082, s. 775.083, or s. 775.084.
  204         (4) A It is unlawful for any financial institution
  205  affiliated party may not to knowingly place among the assets of
  206  such financial institution, affiliate, subsidiary, or service
  207  corporation any note, obligation, or security that which the
  208  financial institution, affiliate, subsidiary, or service
  209  corporation does not own or that, which to the party’s
  210  individual’s knowledge, is fraudulent or otherwise worthless or
  211  for the financial institution-affiliated party any such
  212  individual to represent to the office that any note, obligation,
  213  or security carried as an asset of such financial institution,
  214  affiliate, subsidiary, or service corporation is the property of
  215  the financial institution, affiliate, subsidiary, or service
  216  corporation and is genuine if it is known to such party
  217  individual that such representation is false or that the such
  218  note, obligation, or security is fraudulent or otherwise
  219  worthless. Any person who violates this subsection commits is
  220  guilty of a felony of the third degree, punishable as provided
  221  in s. 775.082, s. 775.083, or s. 775.084.
  222         (5) Any person who willfully makes a any false statement or
  223  report, or willfully overvalues any land, property, or security,
  224  for the purposes of influencing in any way the action of a any
  225  financial institution, affiliate, subsidiary, or service
  226  corporation or any other entity authorized by law to extend
  227  credit, upon an any application, advance, discount, purchase,
  228  purchase agreement, repurchase agreement, commitment, or loan,
  229  or any change or extension of any of the same, by renewal,
  230  deferment of action or otherwise, or the acceptance, release, or
  231  substitution of security therefor, commits is guilty of a felony
  232  of the second degree, punishable as provided in s. 775.082, s.
  233  775.083, or s. 775.084.
  234         (6) Any person who knowingly executes, or attempts to
  235  execute, a scheme or artifice to defraud a financial
  236  institution, affiliate, subsidiary, or service corporation or
  237  any other entity authorized by law to extend credit, or to
  238  obtain any of the moneys, funds, credits, assets, securities, or
  239  other property owned by, or under the custody or control of, a
  240  financial institution, affiliate, subsidiary, service
  241  corporation, or any other entity authorized by law to extend
  242  credit, by means of false or fraudulent pretenses,
  243  representations, or promises, commits is guilty of a felony of
  244  the second degree, punishable as provided in s. 775.082, s.
  245  775.083, or s. 775.084.
  246         Section 3. Section 655.034, Florida Statutes, is amended to
  247  read:
  248         655.034 Injunctions.—
  249         (1) If the office determines that Whenever a violation of
  250  the financial institutions codes or a violation of a formal
  251  enforcement action has occurred or is threatened or impending
  252  and such violation will cause substantial injury to a state
  253  financial institution or to the depositors, members, creditors,
  254  or stockholders thereof, the circuit court has jurisdiction to
  255  hear a any complaint filed by the office and, upon proper
  256  showing, to issue an injunction restraining such violation or
  257  granting other such appropriate relief. Upon proper showing, the
  258  circuit court may also issue an injunction restraining any
  259  conduct or other act in order to protect the interests of
  260  depositors, members, creditors, or stockholders of a financial
  261  institution or the interests of the public in the safety and
  262  soundness of the financial institution system in this state and
  263  the proper conduct of fiduciary functions.
  264         (2) As used in this section, the term “formal enforcement
  265  action” means:
  266         (a) With respect to a financial institution, a supervisory
  267  action subject to enforcement pursuant to s. 655.033, s.
  268  655.037, or s. 655.041 which directs the financial institution
  269  to take corrective action to address violations of law or safety
  270  and soundness deficiencies.
  271         (b) With respect to a person or entity that is not a
  272  financial institution, an order issued by the office pursuant
  273  the financial institutions codes which is directed to such
  274  person or entity.
  275         Section 4. Subsection (1) of section 655.037, Florida
  276  Statutes, is amended to read:
  277         655.037 Removal of a financial institution-affiliated party
  278  by the office.—
  279         (1) The office may issue and serve upon any financial
  280  institution-affiliated party and upon the state financial
  281  institution, subsidiary, or service corporation involved, a
  282  complaint stating charges if whenever the office has reason to
  283  believe that the financial institution-affiliated party is
  284  engaging or has engaged in conduct that is:
  285         (a) An unsafe or unsound practice;
  286         (b) A prohibited act or practice;
  287         (c) A willful violation of any law relating to financial
  288  institutions;
  289         (d) A violation of any other law involving fraud or moral
  290  turpitude which constitutes a felony;
  291         (e) A violation of s. 655.50, relating to the Florida
  292  control of money laundering and terrorist financing in Financial
  293  Institutions Act; chapter 896, relating to offenses related to
  294  financial transactions; or any similar state or federal law;
  295         (f) A willful violation of any rule of the commission;
  296         (g) A willful violation of any order of the office;
  297         (h) A willful breach of any written agreement with the
  298  office; or
  299         (i) An act of commission or omission or a practice which is
  300  a breach of trust or a breach of fiduciary duty.
  301         Section 5. Present subsections (4) and (5) of section
  302  655.0385, Florida Statutes, are redesignated as subsections (5)
  303  and (6), respectively, and a new subsection (4) is added to that
  304  section, to read:
  305         655.0385 Disapproval of directors and executive officers.—
  306         (4) A director or executive officer of a state financial
  307  institution or affiliate may not concurrently serve as a
  308  director, or be employed as an officer, of a nonaffiliated
  309  financial institution or affiliate whose principal place of
  310  business is located in the same metropolitan statistical area in
  311  this state. A person affected by this prohibition may provide
  312  written notice to the office of the proposed appointment or
  313  employment. Such notice may provide information that such
  314  concurrent service does not present a conflict of interest and
  315  that neither institution is competitively disadvantaged in the
  316  common market area. The office may waive this prohibition if the
  317  information provided demonstrates that the individual’s proposed
  318  concurrent service does not present a conflict of interest and
  319  neither institution is competitively disadvantaged in the common
  320  market area. A person who violates this subsection is subject to
  321  suspension, removal, or prohibition under s. 655.037.
  322         Section 6. Section 655.041, Florida Statutes, is amended to
  323  read:
  324         655.041 Administrative fines; enforcement.—
  325         (1) The office may, by complaint, initiate a proceeding
  326  pursuant to chapter 120 to impose an administrative fine against
  327  any person found to have violated a any provision of the
  328  financial institutions codes or the rules adopted thereunder, an
  329  or a cease and desist order of the office, or a any written
  330  agreement with the office. Such No such proceeding may not shall
  331  be initiated and no fine shall accrue pursuant to this section
  332  until after such person has been notified in writing of the
  333  nature of the violation and has been afforded a reasonable
  334  period of time, as set forth in the notice, to correct the
  335  violation and has failed to do so. If the office provided such
  336  notice, a fine for a violation of an office order or written
  337  agreement begins to accrue immediately upon service of the
  338  complaint and continues to accrue until the violation is
  339  corrected.
  340         (2) Any Such fine may not exceed $2,500 per a day for each
  341  violation except as provided in this section.
  342         (a) If the office determines that any such person has
  343  recklessly violated a any provision of the financial
  344  institutions codes, an or a cease and desist order of the
  345  office, or a any written agreement with the office, which
  346  violation results in more than a minimal loss to a financial
  347  institution, affiliate, subsidiary, or service corporation, or
  348  in a pecuniary benefit to such person, the office may impose a
  349  fine of up to not exceeding $10,000 per a day for each day the
  350  violation continues.
  351         (b) If the office determines that any such person has
  352  knowingly violated a any provision of the financial institutions
  353  codes, an or a cease and desist order of the office, or a any
  354  written agreement with the office, which violation results in
  355  more than a minimal loss to a financial institution, affiliate,
  356  subsidiary, or service corporation, or in a pecuniary benefit to
  357  such a person, the office may impose a fine of up to not
  358  exceeding the lesser of $500,000 per day or 1 percent of the
  359  total assets in the case of a financial institution, or $50,000
  360  per day in any other case for each day the violation continues.
  361         (c) The office may by complaint impose an administrative
  362  fine of up to, not exceeding $10,000 per a day on a, upon any
  363  financial institution-affiliated party, on and upon a state
  364  financial institution, subsidiary, service corporation, or
  365  affiliate, or on a person subject to supervision by the office
  366  pursuant to s. 655.0391 which who refuses to permit an examiner
  367  to examine a state financial institution, subsidiary, or service
  368  corporation;, who refuses to permit an examiner to review the
  369  books and records of an affiliate or a contracting service
  370  entity subject to supervision by the office pursuant to s.
  371  655.0391;, or who refuses to give an examiner any information
  372  required in the course of an any examination or review of the
  373  books and records.
  374         (3) An Any administrative fine levied by the office may be
  375  enforced by the office by appropriate proceedings in the circuit
  376  court of the county in which such person resides or in which the
  377  principal office of a state financial institution, affiliate,
  378  subsidiary, service corporation, or contracting service entity
  379  is located or does business in the state. In any administrative
  380  or judicial proceeding arising under this section, a party may
  381  elect to correct the violation asserted by the office and, upon
  382  doing so, any fine ceases to accrue; however, an election to
  383  correct the violation does not render an any administrative or
  384  judicial proceeding moot.
  385         Section 7. Section 655.045, Florida Statutes, is amended to
  386  read:
  387         655.045 Examinations, reports, and internal audits;
  388  penalty.—
  389         (1) The office shall conduct an examination of the
  390  condition of each state financial institution at least every 18
  391  months during each 18-month period. The office may conduct more
  392  frequent examinations based upon the risk profile of the
  393  financial institution, prior examination results, or significant
  394  changes in the institution or its operations. The office may use
  395  continuous, phase, or other flexible scheduling examination
  396  methods for very large or complex state financial institutions
  397  and financial institutions owned or controlled by a multi
  398  financial institution holding company. The office shall consider
  399  examination guidelines from federal regulatory agencies in order
  400  to facilitate, coordinate, and standardize examination
  401  processes.
  402         (a) With respect to, and examination of, the condition of a
  403  state institution, The office may accept an examination of a
  404  state financial institution made by an appropriate federal
  405  regulatory agency, or may conduct make a joint or concurrent
  406  examination of the institution with the federal agency. However,
  407  beginning July 1, 2014, the office shall conduct such joint or
  408  concurrent examinations at least once every 36 months in a
  409  manner that allows the preparation of a complete examination
  410  report not subject to the right of a federal or other non
  411  Florida entity to limit access to the information contained in
  412  the report. The office may furnish a copy of all examinations or
  413  reviews made of financial institutions or their affiliates to
  414  the state or federal agencies participating in the examination,
  415  investigation, or review, or as otherwise authorized under by s.
  416  655.057.
  417         (b) If, as a part of an examination or investigation of a
  418  state financial institution, subsidiary, or service corporation,
  419  the office has reason to believe that the conduct or business
  420  operations of an affiliate may have a negative impact on the
  421  state financial institution, subsidiary, or service corporation,
  422  the office may conduct such examination or investigation of the
  423  affiliate as the office deems necessary.
  424         (c) The office may recover the costs of examination and
  425  supervision of a state financial institution, subsidiary, or
  426  service corporation that is determined by the office to be
  427  engaged in an unsafe or unsound practice. The office may also
  428  recover the costs of a any review conducted pursuant to
  429  paragraph (b) of an any affiliate of a state financial
  430  institution determined by the office to have contributed to an
  431  unsafe or unsound practice at a state financial institution,
  432  subsidiary, or service corporation.
  433         (d) As used in For the purposes of this section, the term
  434  “costs” means the salary and travel expenses directly
  435  attributable to the field staff examining the state financial
  436  institution, subsidiary, or service corporation, and the travel
  437  expenses of any supervisory staff required as a result of
  438  examination findings. The mailing of any costs incurred under
  439  this subsection must be postmarked within 30 days after the date
  440  of receipt of a notice stating that such costs are due. The
  441  office may levy a late payment of up to $100 per day or part
  442  thereof that a payment is overdue, unless excused for good
  443  cause. However, for intentional late payment of costs, the
  444  office may levy an administrative fine of up to $1,000 per day
  445  for each day the payment is overdue.
  446         (e) The office may require an audit of a state financial
  447  institution, subsidiary, or service corporation by an
  448  independent certified public accountant, or other person
  449  approved by the office, if the office, after conducting an
  450  examination of the state financial institution, subsidiary, or
  451  service corporation, or after accepting an examination of the
  452  such state financial institution by an appropriate state or
  453  federal regulatory agency, determines that an audit is necessary
  454  in order to ascertain the condition of the financial
  455  institution, subsidiary, or service corporation. The cost of
  456  such audit shall be paid by the state financial institution,
  457  subsidiary, or state service corporation audited.
  458         (2)(a) Each state financial institution, subsidiary, or
  459  service corporation shall submit a report, at least four times
  460  each calendar year, as of such dates as the commission or office
  461  determines. The Such report must include such information as the
  462  commission by rule requires for that type of institution.
  463         (a)(b) The office shall levy an administrative fine of up
  464  to $100 per day for each day the report is past due, unless it
  465  is excused for good cause. However,
  466         (b) For an intentional late filing of the report required
  467  under paragraph (a), the office shall levy an administrative
  468  fine of up to $1,000 per day for each day the report is past
  469  due.
  470         (3)(a) The board of directors of each state financial
  471  institution or, in the case of a credit union, the supervisory
  472  committee or audit committee shall perform or cause to be
  473  performed, within each calendar year, an internal audit of each
  474  state financial institution, subsidiary, or service corporation
  475  and to file a copy of the report and findings of such audit with
  476  the office on a timely basis. The Such internal audit must
  477  include such information as the commission by rule requires for
  478  that type of institution.
  479         (a)(b) With the approval of the office, the board of
  480  directors or, in the case of a credit union, the supervisory
  481  committee may elect, in lieu of such periodic audits, to adopt
  482  and implement an adequate continuous audit system and procedure
  483  that includes which must include full, adequate, and continuous
  484  written reports to, and review by, the board of directors or, in
  485  the case of a credit union, the supervisory committee, together
  486  with written statements of the actions taken thereon and reasons
  487  for omissions to take actions, all of which shall be noted in
  488  the minutes and filed among the records of the board of
  489  directors or, in the case of a credit union, the supervisory
  490  committee. If at any time such continuous audit system and
  491  procedure, including the reports and statements, becomes
  492  inadequate, in the judgment of the office, the state financial
  493  institution shall promptly make such changes as may be required
  494  by the office to cause the same to accomplish the purpose of
  495  this section.
  496         (b)(c)A Any de novo state financial institution open less
  497  than 4 months is exempt from the audit requirements of this
  498  section.
  499         (4) A copy of the report of each examination must be
  500  furnished to the entity examined and. Such report shall be
  501  presented to the board of directors at its next regular or
  502  special meeting.
  503         Section 8. Paragraph (a) of subsection (3) and subsections
  504  (4) through (6) of section 655.057, Florida Statutes, are
  505  amended to read:
  506         655.057 Records; limited restrictions upon public access.—
  507         (3) The provisions of this section do not prevent or
  508  restrict:
  509         (a) Publishing reports that are required to be submitted to
  510  the office pursuant to s. 655.045(2)(a) or required by
  511  applicable federal statutes or regulations to be published.
  512  
  513  Any confidential information or records obtained from the office
  514  pursuant to this subsection shall be maintained as confidential
  515  and exempt from the provisions of s. 119.07(1).
  516         (4)(a) Orders of courts or of administrative law judges for
  517  the production of confidential records or information must shall
  518  provide for inspection in camera by the court or the
  519  administrative law judge. and, After the court or administrative
  520  law judge determines has made a determination that the documents
  521  requested are relevant or would likely lead to the discovery of
  522  admissible evidence and that the information sought is not
  523  otherwise reasonably available from other sources, the said
  524  documents shall be subject to further orders by the court or the
  525  administrative law judge to protect the confidentiality thereof.
  526  Any order directing the release of information is shall be
  527  immediately reviewable, and a petition by the office for review
  528  of such order shall automatically stays stay further proceedings
  529  in the trial court or the administrative hearing until the
  530  disposition of such petition by the reviewing court. If any
  531  other party files such a petition for review, it will operate as
  532  a stay of such proceedings only upon order of the reviewing
  533  court.
  534         (b) Confidential records and information furnished pursuant
  535  to a legislative subpoena shall be kept confidential by the
  536  legislative body or committee that which received the records or
  537  information. However, except in a case involving investigation
  538  of charges against a public official subject to impeachment or
  539  removal, and then disclosure of such information shall be only
  540  to the extent necessary as determined by the legislative body or
  541  committee to be necessary.
  542         (c) Documents, statements, books, records, and any other
  543  information provided to the office by any person pursuant to an
  544  investigation, examination, visitation, or other supervisory
  545  activity by the office are not considered a waiver of any
  546  privilege or other legal right in an administrative or legal
  547  proceeding in which the office is not a party.
  548         (5) Every credit union and mutual association shall
  549  maintain, in the principal office where its business is
  550  transacted, full and correct records of the names and residences
  551  of all the members of the credit union or mutual association in
  552  the principal office where its business is transacted. Such
  553  records are shall be subject to the inspection by of all the
  554  members of the credit union or mutual association, and the
  555  officers authorized to assess taxes under state authority,
  556  during normal business hours of each business day. No member or
  557  any other person has the right to copy the membership records
  558  for any purpose other than in the course of business of the
  559  credit union or mutual association, as authorized by the office
  560  or the board of directors of the credit union or mutual
  561  association. A current list of members shall be made available
  562  to the office’s examiners for their inspection and, upon the
  563  request of the office, shall be submitted to the office. Except
  564  as otherwise provided in this subsection, the list of the
  565  members of the credit union or mutual association is
  566  confidential and exempt from the provisions of s. 119.07(1).
  567         (6) Every bank, trust company, and stock association shall
  568  maintain, in the principal office where its business is
  569  transacted, full and complete records of the names and
  570  residences of all the shareholders of the bank, trust company,
  571  or stock association and the number of shares held by each. Such
  572  records are shall be subject to the inspection of all the
  573  shareholders of the bank, trust company, or stock association,
  574  and the officers authorized to assess taxes under state
  575  authority, during normal business hours of each banking day. No
  576  shareholder or any other person has the right to copy the
  577  shareholder records for any purpose other than in the course of
  578  business of the bank, the trust company, or the stock
  579  association, as authorized by the office or the board of
  580  directors of the bank, the trust company, or the stock
  581  association. A current list of shareholders shall be made
  582  available to the office’s examiners for their inspection and,
  583  upon the request of the office, shall be submitted to the
  584  office. Except as otherwise provided in this subsection, any
  585  portion of this list which reveals the identities of the
  586  shareholders is confidential and exempt from the provisions of
  587  s. 119.07(1).
  588         Section 9. Section 655.0591, Florida Statutes, is created
  589  to read:
  590         655.0591 Trade secret documents.—
  591         (1) If any person who is required to submit documents or
  592  other information to the office pursuant to the financial
  593  institutions codes, or by rule or order of the office or
  594  commission, claims that such submission contains a trade secret,
  595  such person may file with the office a notice of trade secret
  596  when the information is submitted to the office as provided in
  597  this section. Failure to file such notice constitutes a waiver
  598  of any claim by such person that the document or information is
  599  a trade secret. The notice must provide the contact information
  600  of the person claiming ownership of the trade secret. The person
  601  claiming the trade secret is responsible for updating the
  602  contact information with the office.
  603         (a) Each page of such document or specific portion of a
  604  document claimed to be a trade secret must be clearly marked
  605  with the words “trade secret.”
  606         (b) All material identified as a trade secret shall be
  607  segregated from all other material, such as by being sealed in
  608  an envelope clearly marked with the words “trade secret.”
  609         (c) In submitting a notice of trade secret to the office or
  610  department, the submitting party shall include an affidavit
  611  certifying under oath to the truth of the following statements
  612  concerning all documents or information that are claimed to be
  613  trade secrets:
  614         1. [...I consider/my company considers...] this information
  615  a trade secret that has value and provides an advantage or an
  616  opportunity to obtain an advantage over those who do not know or
  617  use it.
  618         2. [...I have/my company has...] taken measures to prevent
  619  the disclosure of the information to anyone other than those who
  620  have been selected to have access for limited purposes, and
  621  [...I intend/my company intends...] to continue to take such
  622  measures.
  623         3. The information is not, and has not been, reasonably
  624  obtainable without [...my/our...] consent by other persons by
  625  use of legitimate means.
  626         4. The information is not publicly available elsewhere.
  627         (2) If the office receives a public records request for a
  628  document or information that is marked and certified as a trade
  629  secret, the office shall promptly notify the person that
  630  certified the document as a trade secret. The notice shall be
  631  sent to the address provided with the most recent contact
  632  information provided to the office and must inform such person
  633  that, in order to avoid disclosure of the trade secret, the
  634  person must file an action in circuit court within 30 days after
  635  the date of the notice seeking a declaratory judgment that the
  636  document in question contains trade secrets and an order barring
  637  public disclosure of the document. The owner shall provide
  638  written notice to the office that the action was filed and the
  639  office may not release the documents pending the outcome of
  640  legal action. Failure to file an action within 30 days
  641  constitutes a waiver of any claim of confidentiality, and the
  642  office shall release the document as requested.
  643         (3) The office may disclose a trade secret, together with
  644  the claim that it is a trade secret, to an officer or employee
  645  of another governmental agency whose use of the trade secret is
  646  within the scope of his or her employment.
  647         Section 10. Section 655.50, Florida Statutes, is reordered
  648  and amended to read:
  649         655.50 Florida Control of Money Laundering and Terrorist
  650  Financing in Financial Institutions Act; reports of transactions
  651  involving currency or monetary instruments; when required;
  652  purpose; definitions; penalties.—
  653         (1) This section may be cited as the “Florida Control of
  654  Money Laundering and Terrorist Financing in Financial
  655  Institutions Act.”
  656         (2) It is The purpose of this section is to require the
  657  submission to the office of certain reports and the maintenance
  658  of certain records of customers, accounts, and transactions
  659  involving currency or monetary instruments or suspicious
  660  activities if when such reports and records deter using the use
  661  of financial institutions to conceal, move, or provide the
  662  proceeds obtained from or intended for of criminal or terrorist
  663  activities and if such reports and records activity and have a
  664  high degree of usefulness in criminal, tax, or regulatory
  665  investigations or proceedings.
  666         (3) As used in this section, the term:
  667         (a) “BSA/AML compliance officer” means the financial
  668  institution’s officer responsible for the development and
  669  implementation of the financial institution’s policies and
  670  procedures for complying with the requirements of this section
  671  relating to anti-money laundering (AML), and the requirements of
  672  the Bank Secrecy Act of 1970 (BSA), Pub. L. No. 91-508, as
  673  amended, the USA Patriot Act of 2001, Pub. L. No. 107-56, as
  674  amended, and federal and state rules and regulations adopted
  675  thereunder, and 31 C.F.R. parts 500-598, relating to the
  676  regulations of the Office of Foreign Assets Control (OFAC) of
  677  the United States Department of the Treasury.
  678         (b)(a) “Currency” means currency and coin of the United
  679  States or of any other country.
  680         (c)(b) “Financial institution” means a financial
  681  institution, as defined in 31 U.S.C. s. 5312, as amended,
  682  including a credit card bank, located in this state.
  683         (d)(c) “Financial transaction” means a transaction
  684  involving the movement of funds by wire, electronic funds
  685  transfer, or any other means, or involving one or more monetary
  686  instruments, which in any way or degree affects commerce, or a
  687  transaction involving the use of a financial institution that
  688  which is engaged in, or the activities of which affect, commerce
  689  in any way or degree.
  690         (e)(d) “Monetary instruments” means coin or currency of the
  691  United States or of any other country, travelers’ checks,
  692  personal checks, bank checks, money orders, stored value cards,
  693  prepaid cards, investment securities or in bearer form or
  694  otherwise in such form that title thereto passes upon delivery,
  695  and negotiable instruments in bearer form or otherwise in such
  696  form that title thereto passes upon delivery, or similar
  697  devices.
  698         (i)(e) “Transaction” means a purchase, sale, loan, pledge,
  699  gift, transfer, delivery, or other disposition, and with respect
  700  to a financial institution includes a deposit, withdrawal,
  701  transfer between accounts, exchange of currency, loan, extension
  702  of credit, purchase or sale of any stock, bond, certificate of
  703  deposit, or other monetary instrument, or any other payment,
  704  transfer, or delivery by, through, or to a financial
  705  institution, by whatever means effected.
  706         (f) “Report” means a report of each deposit, withdrawal,
  707  exchange of currency, or other payments or transfer, by,
  708  through, or to that financial institution, which that involves a
  709  transaction required or authorized to be reported by this
  710  section, and includes the electronic submission of such
  711  information in the manner provided for by rule of the
  712  commission.
  713         (g) “Specified unlawful activity” means any “racketeering
  714  activity” as defined in s. 895.02.
  715         (h) “Suspicious activity” means any transaction reportable
  716  as required and described under 31 C.F.R. s. 1020.320.
  717         (4) A financial institution shall designate and retain a
  718  BSA/AML compliance officer. The board of directors of a
  719  financial institution must ensure that the designated compliance
  720  officer is properly qualified and has sufficient authority and
  721  resources to administer an effective BSA/AML compliance program.
  722  The board is ultimately responsible for establishing the
  723  institution’s BSA/AML policies and overall BSA/AML compliance. A
  724  change in the BSA/AML compliance officer must be reported to the
  725  office.
  726         (5)(4)(a)A Every financial institution shall keep a record
  727  of each financial transaction occurring in this state known to
  728  it which involves to involve currency or other monetary
  729  instrument, as the commission prescribes by rule, has of a value
  730  greater than in excess of $10,000, and involves to involve the
  731  proceeds of specified unlawful activity, or is to be designed to
  732  evade the reporting requirements of this section, chapter 896,
  733  or any similar state or federal law, or which the financial
  734  institution reasonably believes is suspicious activity. Each
  735  financial institution and shall maintain appropriate procedures
  736  to ensure compliance with this section, chapter 896, and any
  737  other similar state or federal law. Any report of suspicious
  738  activity made pursuant to this subsection is entitled to the
  739  same confidentiality provided under 31 C.F.R. s. 1020.320,
  740  whether the report or information pertaining to or identifying
  741  the report is in the possession or control of the office or the
  742  reporting institution.
  743         (a)(b) Multiple financial transactions shall be treated as
  744  a single transaction if the financial institution has knowledge
  745  that they are made by or on behalf of any person and result in
  746  either cash in or cash out totaling more than $10,000 during any
  747  business day, as defined in s. 655.89(1).
  748         (b)(c)A Any financial institution may keep a record of any
  749  financial transaction occurring in this state, regardless of the
  750  value, if it suspects that the transaction involves to involve
  751  the proceeds of specified unlawful activity.
  752         (c)(d) A financial institution, or officer, employee, or
  753  agent thereof, which that files a report in good faith pursuant
  754  to this subsection section is not liable to any person for loss
  755  or damage caused in whole or in part by the making, filing, or
  756  governmental use of the report, or any information contained
  757  therein.
  758         (d)(5)(a) Each financial institution shall file a report
  759  with the office of the records record required under this
  760  subsection with the office paragraphs (4)(a) and (b) and any
  761  record maintained pursuant to paragraph (4)(c). Each report
  762  shall record filed pursuant to subsection (4) must be filed at
  763  such time and must contain such information as the commission
  764  requires by rule.
  765         (e)(b) The timely filing of the reports report required by
  766  31 U.S.C. s. 5313 and 31 C.F.R. part 1020 with the appropriate
  767  federal agency is deemed compliance with the reporting
  768  requirements of this subsection unless the reports are not
  769  regularly and comprehensively transmitted by the federal agency
  770  to the office.
  771         (6) Each financial institution shall maintain a record of
  772  each qualified business customer that is designation of a person
  773  granted an exemption under the authority of 31 U.S.C. s. 5313,
  774  including any name, address, and taxpayer identification number
  775  of the exempt customer person, as well as the name and address
  776  of the financial institution and the signature of the financial
  777  institution official designating the exempt customer person.
  778  Such record of exemptions shall be made available to the office
  779  for inspection and copying and shall be submitted to the office
  780  within 15 days after request.
  781         (7) All reports and records filed with the office pursuant
  782  to this section are confidential and exempt from s. 119.07(1).
  783  However, the office shall provide any report filed pursuant to
  784  this section, or information contained therein, to federal,
  785  state, and local law enforcement and prosecutorial agencies, and
  786  any federal or state agency responsible for the regulation or
  787  supervision of financial institutions.
  788         (8)(a) Each financial institution shall maintain:
  789         (a)For a minimum of 5 calendar years Full and complete
  790  records of all financial transactions, including all records
  791  required by 31 C.F.R. parts 500-598 and 1010 for a minimum of 5
  792  calendar years parts 103.33 and 103.34.
  793         (b) The financial institution shall retain A copy of all
  794  reports filed with the office under subsection (5) (4) for a
  795  minimum of 5 calendar years after submission of the report.
  796         (c) The financial institution shall retain A copy of all
  797  records of exemption for each qualified business customer
  798  designation of exempt person made pursuant to subsection (6) for
  799  a minimum of 5 calendar years after termination of exempt status
  800  of such customer.
  801         (9) The office, in addition to any other power conferred
  802  upon it to enforce and administer this chapter and the financial
  803  institutions codes, the office may:
  804         (a) Bring an action in any court of competent jurisdiction
  805  to enforce or administer this section. In such action, the
  806  office may seek an award of any civil penalty authorized by law
  807  and any other appropriate relief at law or equity.
  808         (b) Pursuant to s. 655.033, issue and serve upon a person
  809  an order requiring such person to cease and desist and take
  810  corrective action if whenever the office finds that such person
  811  is violating, has violated, or is about to violate any provision
  812  of this section, chapter 896, or any similar state or federal
  813  law; any rule or order adopted under this section, chapter 896,
  814  or any similar state or federal law; or any written agreement
  815  related to this section, chapter 896, or any similar state or
  816  federal law and entered into with the office.
  817         (c) Pursuant to s. 655.037, issue and serve upon any person
  818  an order of removal if whenever the office finds that such
  819  person is violating, has violated, or is about to violate any
  820  provision of this section, chapter 896, or any similar state or
  821  federal law; any rule or order adopted under this section,
  822  chapter 896, or any similar state or federal law; or any written
  823  agreement related to this section, chapter 896, or any similar
  824  state or federal law and entered into with the office.
  825         (d) Impose and collect an administrative fine against any
  826  person found to have violated any provision of this section,
  827  chapter 896, or any similar state or federal law; any rule or
  828  order adopted under this section, chapter 896, or any similar
  829  state or federal law; or any written agreement related to this
  830  section, chapter 896, or any similar state or federal law and
  831  entered into with the office, in an amount up to not exceeding
  832  $10,000 per a day for each willful violation or $500 per a day
  833  for each negligent violation.
  834         (10)(a) Except as provided in paragraph (b), a person who
  835  willfully violates any provision of this section commits is
  836  guilty of a misdemeanor of the first degree, punishable as
  837  provided in s. 775.082 or s. 775.083.
  838         (b) A person who willfully violates or knowingly causes
  839  another to violate any provision of this section, when the
  840  violation involves:
  841         1. Financial transactions totaling or exceeding $300 but
  842  less than $20,000 in any 12-month period, commits is guilty of a
  843  felony of the third degree, punishable as provided in s. 775.082
  844  or s. 775.083; or
  845         2. Financial transactions totaling or exceeding $20,000 but
  846  less than $100,000 in any 12-month period, commits is guilty of
  847  a felony of the second degree, punishable as provided in s.
  848  775.082 or s. 775.083; or
  849         3. Financial transactions totaling or exceeding $100,000 in
  850  any 12-month period, commits is guilty of a felony of the first
  851  degree, punishable as provided in s. 775.082 or s. 775.083.
  852         (c) In addition to the penalties otherwise authorized by
  853  ss. 775.082 and 775.083, a person who has been convicted of or
  854  who has pleaded guilty or nolo contendere to having violated
  855  paragraph (b) may be sentenced to pay a fine of up to not
  856  exceeding $250,000 or twice the value of the financial
  857  transaction, whichever is greater, except that on a second or
  858  subsequent conviction for or plea of guilty or nolo contendere
  859  to a violation of paragraph (b), the fine may be up to $500,000
  860  or quintuple the value of the financial transaction, whichever
  861  is greater.
  862         (d) A financial institution as defined in s. 655.005 which
  863  that willfully violates this section is also liable for a civil
  864  penalty of not more than the greater of the value of the
  865  financial transaction involved or $25,000. However, the civil
  866  penalty may not exceed $100,000.
  867         (e) A person other than a financial institution as defined
  868  in s. 655.005 who violates this section is also liable for a
  869  civil penalty of not more than the greater of the value of the
  870  financial transaction involved or $25,000.
  871         (11) In any prosecution brought pursuant to this section,
  872  the common law corpus delicti rule does not apply. The
  873  defendant’s confession or admission is admissible during trial
  874  without the state having to prove the corpus delicti if the
  875  court finds in a hearing conducted outside the presence of the
  876  jury that the defendant’s confession or admission is
  877  trustworthy. Before the court admits the defendant’s confession
  878  or admission, the state must prove by a preponderance of the
  879  evidence that there is sufficient corroborating evidence that
  880  tends to establish the trustworthiness of the statement by the
  881  defendant. Hearsay evidence is admissible during the
  882  presentation of evidence at the hearing. In making its
  883  determination, the court may consider all relevant corroborating
  884  evidence, including the defendant’s statements.
  885         Section 11. Section 655.85, Florida Statutes, is amended to
  886  read:
  887         655.85 Settlement of checks.—If a Whenever any check is
  888  forwarded or presented to a financial an institution for
  889  payment, except when presented by the payee in person, the
  890  paying institution or remitting institution shall settle the
  891  amount of the check at par may pay or remit the same, at its
  892  option, either in money or in exchange drawn on its reserve
  893  agent or agents in the City of New York or in any reserve city
  894  within the Sixth Federal Reserve District; however, an
  895  institution may not settle any check drawn on it otherwise than
  896  at par. The term “at par” applies only to the settlement of
  897  checks between collecting and paying or remitting institutions
  898  and does not apply to, or prohibit an institution from,
  899  deducting from the face amount of the check drawn on it a fee
  900  for paying the check if the check is presented to the
  901  institution by the payee in person. The provisions of This
  902  section does do not apply with respect to the settlement of a
  903  check sent to such institution as a special collection item.
  904         Section 12. The Legislature intends that the amendment to
  905  s. 655.85, Florida Statutes, made by this act, clarify the
  906  relevant portions of the financial institutions codes as defined
  907  in s. 655.005, Florida Statutes, relating to fees imposed by a
  908  financial institution for the payment of checks presented in
  909  person without requiring further amendment.
  910         Section 13. Section 655.921, Florida Statutes, is amended
  911  to read:
  912         655.921 Transaction of business by out-of-state financial
  913  institutions; exempt transactions in the financial institutions
  914  codes.—
  915         (1) Nothing in The financial institutions codes do not
  916  shall be construed to prohibit a financial institution or
  917  business trust that has having its principal place of business
  918  outside this state and that does not operate operating branches
  919  in this state from:
  920         (a) Contracting in this state with any person to acquire
  921  from such person a part, or the entire, interest in a loan that
  922  such person proposes to make, has heretofore made, or hereafter
  923  makes, together with a like interest in any security instrument
  924  covering real or personal property in the state proposed to be
  925  given or hereafter or heretofore given to such person to secure
  926  or evidence such loan.
  927         (b) Entering into mortgage servicing contracts with persons
  928  authorized to transact business in this state and enforcing in
  929  this state the obligations heretofore or hereafter acquired by
  930  it in the transaction of business outside this state or in the
  931  transaction of any business authorized by this section.
  932         (c) Acquiring, holding, leasing, mortgaging, contracting
  933  with respect to, or otherwise protecting, managing, or conveying
  934  property in this state which is has heretofore or may hereafter
  935  be assigned, transferred, mortgaged, or conveyed to it as
  936  security for, or in whole or in part in satisfaction of, a loan
  937  or loans made by it or obligations acquired by it in the
  938  transaction of any business authorized by this section.
  939         (d) Making loans or committing to make loans to any person
  940  located in this state and soliciting compensating deposit
  941  balances in connection therewith.
  942         (e) Filing suit in any court in this state to collect any
  943  debt or foreclose on any security interest in collateral
  944  securing a debt.
  945         (2) A No such financial institution or business trust may
  946  not shall be deemed to be transacting business in this state, or
  947  be required to qualify so to do so, solely by reason of the
  948  performance of any of the acts or business authorized in this
  949  section.
  950         Section 14. Section 655.922, Florida Statutes, is amended
  951  to read:
  952         655.922 Banking business by unauthorized persons; use of
  953  name.—
  954         (1) Only No person other than a financial institution
  955  authorized to do business in this state pursuant to the
  956  financial institutions codes of any state or federal law may
  957  shall, in this state, engage in the business of soliciting or
  958  receiving funds for deposit, or of issuing certificates of
  959  deposit, or of paying checks in this state; and only such
  960  financial institution may no person shall establish or maintain
  961  a place of business in this state for any of the functions,
  962  transactions, or purposes identified mentioned in this
  963  subsection. A Any person who violates the provisions of this
  964  subsection commits is guilty of a felony of the third degree,
  965  punishable as provided in s. 775.082, s. 775.083, or s. 775.084.
  966  This subsection does not prohibit the issuance or sale by a
  967  financial institution of traveler’s checks, money orders, or
  968  other instruments for the transmission or payment of money, by
  969  or through employees or agents of the financial institution off
  970  the financial institution’s premises.
  971         (2) Only No person other than a financial institution
  972  authorized to do business shall, in this state as provided under
  973  subsection (1) may:
  974         (a) Transact or solicit business under any name or title
  975  that contains the words “bank,” “banc,” “banco,” “banque,”
  976  “banker,” “banking,” “trust company,” “savings and loan
  977  association,” “savings bank,” or “credit union,” or words of
  978  similar import, in any context or in any manner;
  979         (b) Use any name, word, trademark, service mark, trade
  980  name, Internet address, logo, sign, symbol, or device in any
  981  context or in any manner; or
  982         (c) Circulate or use any letterhead, billhead, circular,
  983  paper, electronic media, Internet website or posting, or writing
  984  of any kind or otherwise advertise or represent in any manner,
  985  
  986  which indicates or reasonably implies that the business being
  987  solicited, conducted, or advertised is the kind or character of
  988  business transacted or conducted by a financial institution or
  989  which is likely to lead any person to believe that such business
  990  is that of a financial institution; however, the words “bank,”
  991  “banc,” “banco,” “banque,” “banker,” “banking,” “trust company,”
  992  “savings and loan association,” “savings bank,” or “credit
  993  union,” or the plural of any thereof, may be used by, and in the
  994  corporate or other name or title of, any company that which is
  995  or becomes a financial institution holding company of a
  996  financial institution pursuant to state or federal law; any
  997  subsidiary of any such financial institution holding company
  998  which includes as a part of its name or title all or any part,
  999  or abbreviations, of the name or title of the financial
 1000  institution holding company of which it is a subsidiary; any
 1001  trade organization or association, whether or not incorporated,
 1002  functioning for the purpose of promoting the interests of
 1003  financial institutions or financial institution holding
 1004  companies, the active members of which are financial
 1005  institutions or financial institution holding companies; and any
 1006  international development bank chartered pursuant to part II of
 1007  chapter 663.
 1008         (3) A No person may not use the name, trademark, service
 1009  mark, trade name, Internet address, or logo of a any financial
 1010  institution or an affiliate or subsidiary thereof, or use a name
 1011  similar to that of a financial institution or an affiliate or
 1012  subsidiary thereof, to market or solicit business from a
 1013  customer or prospective customer of such institution if:
 1014         (a) The solicitation is done without the written consent of
 1015  the financial institution or its affiliate or subsidiary; and
 1016         (b) A reasonable person would believe that the materials
 1017  originated from, are endorsed by, or are connected with the
 1018  financial institution or its affiliates or subsidiaries.
 1019         (4) A financial institution, affiliate, subsidiary, or
 1020  service corporation may not do business, solicit, or advertise
 1021  in this state using a name, trademark, service mark, trade name,
 1022  Internet address, or logo that may mislead consumers or cause
 1023  confusion as to the identification of the proper legal business
 1024  entity or the nature of the financial institution’s business.
 1025         (5)(4) Any court, in a proceeding brought by the office, by
 1026  a any financial institution the principal place of business of
 1027  which is in this state, or by any other person residing, or
 1028  whose principal place of business is located, in this state and
 1029  whose interests are substantially affected thereby, may enjoin
 1030  any person from violating any provision of the provisions of
 1031  this section. Except for a financial institution duly chartered
 1032  by the office, the office may also seek an order from the
 1033  circuit court for the annulment or dissolution of a corporation
 1034  or any other business entity found violating any provision of
 1035  this section. For the purposes of this subsection, the interests
 1036  of a trade organization or association are deemed to be
 1037  substantially affected if the interests of any of its members
 1038  are so affected. In addition, The office may also issue and
 1039  serve upon any person who violates any provision of the
 1040  provisions of this section an emergency cease and desist order
 1041  or a complaint seeking a cease and desist order in accordance
 1042  with the procedures and in the manner prescribed by s. 655.033.
 1043  The office is not required to make any finding or determination
 1044  that a violation of this section is likely to result in
 1045  insolvency, substantial dissipation of assets or earnings, or
 1046  substantial prejudice to any person in association with the
 1047  issuance of an emergency cease and desist order.
 1048         (6)(5)Nothing in This section does not shall be construed
 1049  to prohibit the lawful establishment or operation the lawful
 1050  operations of a financial institution, affiliate, subsidiary, or
 1051  service corporation or and nothing in this code shall be
 1052  construed to prohibit any advertisement or other activity in
 1053  this state by any person if such prohibition would contravene
 1054  any applicable federal law that which preempts the law of this
 1055  state.
 1056         Section 15. Section 657.008, Florida Statutes, is amended
 1057  to read:
 1058         657.008 Place of doing business.—
 1059         (1) A Every credit union authorized to transact business
 1060  pursuant to the laws of this state shall have one principal
 1061  place of doing business as designated in its bylaws and where
 1062  legal process may be served. A credit union may change its place
 1063  of business through an amendment to its bylaws.
 1064         (2)(a)Following With 30 days’ prior written notification
 1065  to the office or within such other time as is approved by the
 1066  office, a credit union operating in a safe and sound manner may
 1067  maintain branches without requiring prior office examination and
 1068  approval at locations other than its main office or relocate
 1069  branches previously established if the maintenance of such
 1070  branches is determined by the board of directors to be
 1071  reasonably necessary to furnish service to its members.
 1072         (a)A credit union that requires office examination and
 1073  approval before establishing or relocating a branch must submit
 1074  a written application in such form and supported by such
 1075  information, data, and records as the commission or office may
 1076  require to make all findings necessary for approval. Upon
 1077  receiving the application and a nonrefundable filing fee for the
 1078  establishment of the branch, the office shall consider the
 1079  following in determining whether to reject or approve the
 1080  application:
 1081         1.The sufficiency of the net worth of the credit union in
 1082  relation to its deposit liabilities, including the proposed
 1083  branch, and the additional fixed assets, if any, which are
 1084  proposed for the branch and its operations without undue risk to
 1085  the credit union or its depositors;
 1086         2.The sufficiency of earnings and earnings prospects of
 1087  the credit union necessary to support the anticipated expenses
 1088  and operating losses of the branch during its formative or
 1089  initial years;
 1090         3.The sufficiency and quality of management available to
 1091  operate the branch;
 1092         4.The name of the proposed branch in order to determine if
 1093  it reasonably identifies the branch as a branch of the main
 1094  office and is not likely to unduly confuse the public; and
 1095         5. The substantial compliance of the applicant with the
 1096  applicable law governing its operations.
 1097         (b) If any branch is located outside this state, the cost
 1098  of examining such branch shall be borne by the credit union.
 1099  Such cost includes shall include, but is shall not be limited
 1100  to, examiner travel expense and per diem.
 1101         (3) A credit union may share office space with one or more
 1102  credit unions and contract with any person or corporation to
 1103  provide facilities or personnel.
 1104         (4) A Any credit union organized under this state or
 1105  federal law, the members of which are presently, or were at the
 1106  time of admission into the credit union, employees of the state
 1107  or a political subdivision or municipality thereof, or members
 1108  of the immediate families of such employees, may apply for space
 1109  in any building owned or leased by the state or respective
 1110  political subdivision or municipality in the community or
 1111  district in which the credit union does business.
 1112         (a) The application shall be addressed to the officer
 1113  charged with the allotment of space in such building. If space
 1114  is available, the officer may allot space to the credit union at
 1115  a reasonable charge for rent or services.
 1116         (b) If the governing body having jurisdiction over the
 1117  building determines that the services rendered by the credit
 1118  union to the employees of the governing body are equivalent to a
 1119  reasonable charge for rent or services, available space may be
 1120  allotted to the credit union without charge for rent or
 1121  services.
 1122         (5)(a) The office may authorize foreign credit unions to
 1123  establish branches in this state Florida if all of the following
 1124  criteria are met:
 1125         1. The state in which the foreign credit union’s home
 1126  office is located permits Florida credit unions to do business
 1127  in the state under restrictions that are no greater than those
 1128  placed upon a domestic credit union doing business in that
 1129  state. For this purpose, such restrictions must shall include,
 1130  but are not limited to, any fees, bonds, or other charges levied
 1131  on domestic credit unions doing business in that state.
 1132         2. The deposits of such foreign credit union and its
 1133  proposed Florida branch must shall have insurance of accounts
 1134  with the National Credit Union Administration.
 1135         3. The credit union’s field of membership is so limited as
 1136  to be within that meaning of that term as defined in s. 657.002.
 1137         (b) Every foreign credit union operating in this state must
 1138  Florida shall keep the office informed of every location at
 1139  which it is operating.
 1140         (c) If the office has reason to believe that a foreign
 1141  credit union is operating a branch in this state in an unsafe
 1142  and unsound manner, it shall have the right to examine such
 1143  branch. If, upon examination, the office finds that such branch
 1144  is operating in an unsafe and unsound manner, it shall require
 1145  the branch office to make appropriate modifications to bring the
 1146  such branch operations into compliance with generally accepted
 1147  credit union operation in this state. The Such foreign credit
 1148  union shall reimburse the office for the full cost of such this
 1149  examination. Costs shall include examiner salaries, per diem,
 1150  and travel expenses.
 1151         (d) Any foreign credit union operating in this state shall,
 1152  in any connection therewith, be subject to suit in the courts of
 1153  this state, by this state and by the residents citizens of this
 1154  state.
 1155         (6) A credit union may provide, directly or through a
 1156  contract with another company, off-premises armored car services
 1157  to its members. Armored car services do not constitute a branch
 1158  for the purposes of this section.
 1159         Section 16. Section 657.028, Florida Statutes, is amended
 1160  to read:
 1161         657.028 Activities of directors, officers, committee
 1162  members, employees, and agents.—
 1163         (1) An individual may not disburse funds of the credit
 1164  union for any extension of credit approved by her or him.
 1165         (2) An elected officer, or director, or any committee
 1166  member, other than the chief executive officer, may not be
 1167  compensated for her or his service as such.
 1168         (3) Except with the prior approval of the office, a person
 1169  may not serve as an officer, director, or committee member of a
 1170  credit union if she or he:
 1171         (a) Has been convicted of a felony or of an offense
 1172  involving dishonesty, a breach of trust, a violation of this
 1173  chapter, or fraud, except with the prior approval of the office;
 1174         (b) Has been adjudicated bankrupt within the previous 7
 1175  years;
 1176         (c) Has been removed by any regulatory agency as a
 1177  director, officer, committee member, or employee of a any
 1178  financial institution, except with the prior approval of the
 1179  office;
 1180         (d) Has performed acts of fraud or dishonesty, or has
 1181  failed to perform duties, resulting in a loss that which was
 1182  subject to a paid claim under a fidelity bond, except with the
 1183  prior approval of the office; or
 1184         (e) Has been found guilty of a violation of s. 655.50,
 1185  relating to the Florida control of money laundering and
 1186  terrorist financing in Financial Institutions Act; chapter 896,
 1187  relating to offenses related to financial transactions; or any
 1188  similar state or federal law; or
 1189         (f) Has defaulted on a debt or obligation to a financial
 1190  institution which resulted in a material loss to the financial
 1191  institution.
 1192         (4) A person may not serve as a director of a credit union
 1193  if she or he is an employee of the credit union, other than the
 1194  chief executive officer of the credit union.
 1195         (5) A director, officer, committee member, officer, agent,
 1196  or employee of the credit union may not in any manner, directly
 1197  or indirectly, participate in the deliberation upon or the
 1198  determination of any question affecting her or his pecuniary
 1199  interest or the pecuniary interest of any corporation,
 1200  partnership, or association, other than the credit union, in
 1201  which she or he or a member of her or his immediate family is
 1202  directly or indirectly interested.
 1203         (6) Within 30 days after election or appointment, a record
 1204  of the names and addresses of the members of the board, members
 1205  of committees, and all officers of the credit union, and the
 1206  credit manager shall be filed with the office on forms
 1207  prescribed by the commission.
 1208         Section 17. Section 657.041, Florida Statutes, is amended
 1209  to read:
 1210         657.041 Insurance; employee benefit plans.—
 1211         (1) A credit union may purchase for or make available to
 1212  its members credit life insurance, credit disability insurance,
 1213  life savings or depositors life insurance, or any other
 1214  insurance coverage which may be directly related to the
 1215  extension of credit or to the receipt of shares or deposits in
 1216  amounts related to the members’ respective ages, shares,
 1217  deposits, or credit balances, or to any combination thereof.
 1218         (2) A credit union may purchase and maintain insurance on
 1219  behalf of any person who is or was a director, officer,
 1220  employee, or agent of the credit union, or who is or was serving
 1221  at the request of the credit union as a director, officer,
 1222  employee, or agent of another corporation, partnership, joint
 1223  venture, trust, or other enterprise, against any liability
 1224  arising out of such person’s capacity or status with the credit
 1225  union, whether or not the credit union would have the power to
 1226  indemnify such person against the asserted liability.
 1227         (3) With the prior approval of members of a credit union
 1228  and the office, the credit union may pay the premiums for
 1229  reasonable health, accident, and related types of insurance
 1230  protection for members of the credit union’s board of directors,
 1231  credit committee, supervisory committee, or other volunteer
 1232  committee established by the board. Any insurance protection
 1233  purchased must cease upon the insured person’s leaving office
 1234  without residual benefits other than from pending claims, if
 1235  any, except that the credit union must comply with federal and
 1236  state laws providing departing officials the right to maintain
 1237  health insurance coverage at their own expense. The office shall
 1238  consider the credit union’s size and financial condition and the
 1239  duties of the board or other officials in its consideration of
 1240  the request for approval for insurance coverage and may withhold
 1241  approval if the request would create an unsafe or unsound
 1242  practice or condition for the credit union.
 1243         (4) With the prior approval of the board of a credit union
 1244  and the office, the credit union may fund employee benefit
 1245  plans. The office shall consider the credit union’s size and
 1246  financial condition and the duties of the employees and may
 1247  withhold approval if the request would create an unsafe or
 1248  unsound practice or condition for the credit union.
 1249         Section 18. Subsection (20) of section 658.12, Florida
 1250  Statutes, is amended to read:
 1251         658.12 Definitions.—Subject to other definitions contained
 1252  in the financial institutions codes and unless the context
 1253  otherwise requires:
 1254         (20) “Trust business” means the business of acting as a
 1255  fiduciary when such business is conducted by a bank, a state or
 1256  federal association, or a trust company, or and also when
 1257  conducted by any other business organization for compensation
 1258  that the office does not consider to be de minimis as its sole
 1259  or principal business.
 1260         Section 19. Subsection (4) of section 658.21, Florida
 1261  Statutes, is amended to read:
 1262         658.21 Approval of application; findings required.—The
 1263  office shall approve the application if it finds that:
 1264         (4) The proposed officers have sufficient financial
 1265  institution experience, ability, standing, and reputation and
 1266  the proposed directors have sufficient business experience,
 1267  ability, standing, and reputation to indicate reasonable promise
 1268  of successful operation, and none of the proposed officers or
 1269  directors has been convicted of, or pled guilty or nolo
 1270  contendere to, any violation of s. 655.50, relating to the
 1271  Florida control of money laundering and terrorist financing in
 1272  Financial Institutions Act; chapter 896, relating to offenses
 1273  related to financial institutions; or any similar state or
 1274  federal law. At least two of the proposed directors who are not
 1275  also proposed officers must shall have had at least 1 year
 1276  direct experience as an executive officer, regulator, or
 1277  director of a financial institution within the 3 years before of
 1278  the date of the application. However, if the applicant
 1279  demonstrates that at least one of the proposed directors has
 1280  very substantial experience as an executive officer, director,
 1281  or regulator of a financial institution more than 3 years before
 1282  the date of the application, the office may modify the
 1283  requirement and allow only one director to have direct financial
 1284  institution experience within the last 3 years. The proposed
 1285  president or chief executive officer must shall have had at
 1286  least 1 year of direct experience as an executive officer,
 1287  director, or regulator of a financial institution within the
 1288  last 3 years.
 1289         Section 20. Subsection (2) of section 658.235, Florida
 1290  Statutes, is amended to read:
 1291         658.235 Subscriptions for stock; approval of major
 1292  shareholders.—
 1293         (2) The directors shall also provide such detailed
 1294  financial, business, and biographical information as the
 1295  commission or office may reasonably require for each person who,
 1296  together with related interests, subscribes to 10 percent or
 1297  more of the voting stock or nonvoting stock that which is
 1298  convertible into voting stock of the proposed bank or trust
 1299  company. The office shall make an investigation of the
 1300  character, financial responsibility, and financial standing of
 1301  each such person in order to determine whether he or she is
 1302  likely to control the bank or trust company in a manner that
 1303  which would jeopardize the interests of the depositors and
 1304  creditors of the bank or trust company, the other stockholders,
 1305  or the general public. The This investigation must shall include
 1306  a determination of whether any such person has been convicted
 1307  of, or pled guilty or nolo contendere to, a violation of s.
 1308  655.50, relating to the Florida control of money laundering and
 1309  terrorist financing in Financial Institutions Act; chapter 896,
 1310  relating to offenses related to financial transactions; or any
 1311  similar state or federal law.
 1312         Section 21. Section 658.49, Florida Statutes, is repealed.
 1313         Section 22. Subsection (1) of section 663.02, Florida
 1314  Statutes, is amended to read:
 1315         663.02 Applicability of state banking laws.—
 1316         (1) International banking corporations having offices in
 1317  this state are shall be subject to all the provisions of the
 1318  financial institutions codes and chapter 655 as though such
 1319  international banking corporations were state banks or trust
 1320  companies, except where it may appear, from the context or
 1321  otherwise, that such provisions are clearly applicable only to
 1322  banks or trust companies organized under the laws of this state
 1323  or the United States. Without limiting the foregoing general
 1324  provisions, it is the intent of the Legislature that the
 1325  following provisions are applicable to such banks or trust
 1326  companies: s. 655.031, relating to administrative enforcement
 1327  guidelines; s. 655.032, relating to investigations, subpoenas,
 1328  hearings, and witnesses; s. 655.0321, relating to hearings,
 1329  proceedings, and related documents and restricted access
 1330  thereto; s. 655.033, relating to cease and desist orders; s.
 1331  655.037, relating to removal by the office of an officer,
 1332  director, committee member, employee, or other person; s.
 1333  655.041, relating to administrative fines and enforcement; s.
 1334  655.50, relating to the control of money laundering and
 1335  terrorist financing; s. 658.49, relating to loans by banks not
 1336  exceeding $50,000; and any provision of law for which the
 1337  penalty is increased under s. 775.31 for facilitating or
 1338  furthering terrorism. International banking corporations do
 1339  shall not have the powers conferred on domestic banks by the
 1340  provisions of s. 658.60, relating to deposits of public funds.
 1341  The provisions of Chapter 687, relating to interest and usury,
 1342  applies shall apply to all bank loans not subject to s. 658.49.
 1343         Section 23. Subsection (1) of section 663.09, Florida
 1344  Statutes, is amended to read:
 1345         663.09 Reports; records.—
 1346         (1) An Every international banking corporation doing
 1347  business in this state shall, at such times and in such form as
 1348  the commission prescribes, make written reports in the English
 1349  language to the office, under the oath of one of its officers,
 1350  managers, or agents transacting business in this state, showing
 1351  the amount of its assets and liabilities and containing such
 1352  other matters as the commission or office requires. An
 1353  international banking corporation that maintains two or more
 1354  offices may consolidate such information in one report unless
 1355  the office otherwise requires for purposes of its supervision of
 1356  the condition and operations of each such office. The late
 1357  filing of such reports is shall be subject to an the imposition
 1358  of the administrative fine as prescribed under by s.
 1359  655.045(2)(b). If any such international banking corporation
 1360  fails shall fail to make any such report, as directed by the
 1361  office, or if any such report contains a shall contain any false
 1362  statement knowingly made, the same shall be grounds for
 1363  revocation of the license of the international banking
 1364  corporation.
 1365         Section 24. Subsection (2) of section 663.12, Florida
 1366  Statutes, is amended to read:
 1367         663.12 Fees; assessments; fines.—
 1368         (2) Each international bank agency, international branch,
 1369  and state-chartered investment company shall pay to the office a
 1370  semiannual assessment, payable on or before January 31 and July
 1371  31 of each year, a semiannual assessment in an amount determined
 1372  by rule by the commission by rule and calculated in a manner so
 1373  as to recover the costs of the office incurred in connection
 1374  with the supervision of international banking activities
 1375  licensed under this part. The These rules must shall provide for
 1376  uniform rates of assessment for all licenses of the same type
 1377  and, shall provide for declining rates of assessment in relation
 1378  to the total assets of the licensee held in the state, but may
 1379  shall not result, in any event, provide for rates of assessment
 1380  which exceed the rate applicable to state banks pursuant to s.
 1381  658.73, unless the rate of assessment would result in a
 1382  semiannual assessment of less than $1,000. For the purposes of
 1383  this subsection, the total assets of an international bank
 1384  agency, international branch, or state-chartered investment
 1385  company must shall include amounts due the agency or branch or
 1386  state investment company from other offices, branches, or
 1387  subsidiaries of the international banking corporations or other
 1388  corporations of which the agency, branch, or state-chartered
 1389  investment company is a part or from entities related to that
 1390  international banking corporation. Each international
 1391  representative office, international administrative office, or
 1392  international trust company representative office shall pay to
 1393  the office an annual assessment in the amount of $2,000, payable
 1394  on or before January 31 of each year.
 1395         Section 25. Subsection (3) of section 663.306, Florida
 1396  Statutes, is amended to read:
 1397         663.306 Decision by office.—The office may, in its
 1398  discretion, approve or disapprove the application, but it shall
 1399  not approve the application unless it finds that:
 1400         (3) The proposed officers and directors have sufficient
 1401  experience, ability, standing, and reputation to indicate
 1402  reasonable promise of successful operation and none of the
 1403  proposed officers or directors have been convicted of, or pled
 1404  guilty or nolo contendere to, a violation of s. 655.50, relating
 1405  to the Florida control of money laundering and terrorist
 1406  financing in Financial Institutions Act; chapter 896, relating
 1407  to offenses related to financial transactions; or any similar
 1408  state or federal law.
 1409         Section 26. Subsection (28) of section 665.013, Florida
 1410  Statutes, is amended to read:
 1411         665.013 Applicability of chapter 658.—The following
 1412  sections of chapter 658, relating to banks and trust companies,
 1413  are applicable to an association to the same extent as if the
 1414  association were a “bank” operating thereunder:
 1415         (28) Section 658.49, relating to loans by banks not
 1416  exceeding $50,000.
 1417         Section 27. Paragraph (c) of subsection (1) of section
 1418  665.033, Florida Statutes, is amended to read:
 1419         665.033 Conversion of state or federal mutual association
 1420  to capital stock association.—
 1421         (1) CONVERSION INTO CAPITAL STOCK ASSOCIATION.—Any state or
 1422  federal mutual association may apply to the office for
 1423  permission to convert itself into an association operated under
 1424  the provisions of this chapter in accordance with the following
 1425  procedures:
 1426         (c) The office may approve or disapprove the plan in its
 1427  discretion, but may it shall not approve the plan unless it
 1428  finds that the association will comply sufficiently with the
 1429  requirements of the financial institutions codes after
 1430  conversion to entitle it to become an association operating
 1431  under the financial institutions codes and the rules of the
 1432  commission. The office may deny an any application from any
 1433  federal association that is subject to a any cease and desist
 1434  order or other supervisory restriction or order imposed by any
 1435  state or the federal supervisory authority, or insurer, or
 1436  guarantor or that has been convicted of, or pled guilty or nolo
 1437  contendere to, a violation of s. 655.50, relating to the Florida
 1438  control of money laundering and terrorist financing in Financial
 1439  Institutions Act; chapter 896, relating to offenses related to
 1440  financial transactions; or any similar state or federal law.
 1441         Section 28. Paragraph (a) of subsection (2) of section
 1442  665.034, Florida Statutes, is amended to read:
 1443         665.034 Acquisition of assets of or control over an
 1444  association.—
 1445         (2) The office shall issue the certificate of approval only
 1446  after it has made an investigation and determined that:
 1447         (a) The proposed new owner or owners of voting capital
 1448  stock are qualified by character, experience, and financial
 1449  responsibility to control the association in a legal and proper
 1450  manner and none of the proposed new owners have been convicted
 1451  of, or pled guilty or nolo contendere to, a violation of s.
 1452  655.50, relating to the Florida control of money laundering and
 1453  terrorist financing in Financial Institutions Act; chapter 896,
 1454  relating to offenses related to financial transactions; or any
 1455  similar state or federal law.
 1456         Section 29. Subsection (29) of section 667.003, Florida
 1457  Statutes, is amended to read:
 1458         667.003 Applicability of chapter 658.—Any state savings
 1459  bank is subject to all the provisions, and entitled to all the
 1460  privileges, of the financial institutions codes except where it
 1461  appears, from the context or otherwise, that such provisions
 1462  clearly apply only to banks or trust companies organized under
 1463  the laws of this state or the United States. Without limiting
 1464  the foregoing general provisions, it is the intent of the
 1465  Legislature that the following provisions apply to a savings
 1466  bank to the same extent as if the savings bank were a “bank”
 1467  operating under such provisions:
 1468         (29) Section 658.49, relating to loans by banks not
 1469  exceeding $50,000.
 1470         Section 30. Paragraph (c) of subsection (1) of section
 1471  667.006, Florida Statutes, is amended to read:
 1472         667.006 Conversion of state or federal mutual savings bank
 1473  or state or federal mutual association to capital stock savings
 1474  bank.—
 1475         (1) CONVERSION INTO CAPITAL STOCK SAVINGS BANK.—Any state
 1476  or federal mutual savings bank or state or federal mutual
 1477  association may apply to the office for permission to convert
 1478  itself into a capital stock savings bank operated under the
 1479  provisions of this chapter in accordance with the following
 1480  procedures:
 1481         (c) The office may approve or disapprove the plan in its
 1482  discretion, but may it shall not approve the plan unless it
 1483  finds that the savings bank will comply sufficiently with the
 1484  requirements of the financial institutions codes after
 1485  conversion to entitle it to become a savings bank operating
 1486  under the financial institutions codes and the rules of the
 1487  commission. The office may deny any application from a any
 1488  federal savings bank that is subject to a any cease and desist
 1489  order or other supervisory restriction or order imposed by any
 1490  state or the federal supervisory authority, or insurer, or
 1491  guarantor or that has been convicted of, or pled guilty or nolo
 1492  contendere to, a violation of s. 655.50, relating to the Florida
 1493  control of money laundering and terrorist financing in Financial
 1494  Institutions Act; chapter 896, relating to offenses related to
 1495  financial transactions; or any similar state or federal law.
 1496         Section 31. Paragraph (a) of subsection (2) of section
 1497  667.008, Florida Statutes, is amended to read:
 1498         667.008 Acquisition of assets of or control over a savings
 1499  bank.—
 1500         (2) The office shall issue the certificate of approval only
 1501  after it has made an investigation and determined that:
 1502         (a) The proposed new owner or owners of voting capital
 1503  stock are qualified by character, experience, and financial
 1504  responsibility to control the savings bank in a legal and proper
 1505  manner and none of the proposed new owners have been convicted
 1506  of, or pled guilty or nolo contendere to, a violation of s.
 1507  655.50, relating to the Florida control of money laundering and
 1508  terrorist financing in Financial Institutions Act; chapter 896,
 1509  relating to offenses related to financial transactions; or any
 1510  similar state or federal law.
 1511         Section 32. This act shall take effect July 1, 2014.