Florida Senate - 2017                                     SB 830
       
       
        
       By Senator Baxley
       
       12-01208A-17                                           2017830__
    1                        A bill to be entitled                      
    2         An act relating to mortgage brokering; amending s.
    3         494.00115, F.S.; providing an exemption from
    4         regulation under parts I and II of ch. 494, F.S., for
    5         certain securities dealers, investment advisers, and
    6         associated persons; providing an effective date.
    7          
    8  Be It Enacted by the Legislature of the State of Florida:
    9  
   10         Section 1. Subsections (1) through (3) of section
   11  494.00115, Florida Statutes, are renumbered as subsections (2)
   12  through (4), respectively, and a new subsection (1) is added to
   13  that section, to read:
   14         494.00115 Exemptions.—
   15         (1) A securities dealer, an investment adviser, or an
   16  associated person registered under s. 517.12 is exempt from
   17  regulation under this part and part II of this chapter if he or
   18  she is conducting business with corporate or individual clients
   19  in the normal course of securities business and does not
   20  otherwise accept or offer to accept an application for a new
   21  mortgage loan, negotiate or offer to negotiate the terms or
   22  conditions of a new or existing mortgage loan on behalf of a
   23  borrower or lender, or negotiate or offer to negotiate the sale
   24  of an existing mortgage loan to a noninstitutional investor for
   25  compensation or gain.
   26         Section 2. This act shall take effect July 1, 2017.