SENATE AMENDMENT
Bill No. CS for CS for SB's 662 & 232, 2nd Eng.
Amendment No. ___ Barcode 631968
CHAMBER ACTION
Senate House
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11 Senator Mitchell moved the following amendment to House
12 amendment (873723):
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14 Senate Amendment
15 On page 1, line 31,
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17 insert:
18 1. The director of the Division of Financial
19 Institutions and Securities shall be known as the Commissioner
20 of Financial Institutions and Securities and the director of
21 the Division of Insurance shall be known as the Insurance
22 Commissioner.
23 2. The Division of Insurance shall have and exercise
24 all statutory powers, duties, functions, and responsibilities
25 specified by law, including the powers, duties, functions, and
26 responsibilities formerly exercised by the Insurance
27 Commissioner or Department of Insurance pursuant to the
28 Florida Insurance Code as defined in s. 624.01 or pursuant to
29 chapter 636, except that the agency shall not have or exercise
30 the powers, duties, functions, and responsibilities
31 specifically assigned to divisions of the Department of
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8:03 PM 03/22/02 s0662c2b-0410b
SENATE AMENDMENT
Bill No. CS for CS for SB's 662 & 232, 2nd Eng.
Amendment No. ___ Barcode 631968
1 Financial Services under subsection (2). The division includes
2 the following bureaus:
3 a. The Bureau of Insurance Agent and Agencies
4 Services.
5 b. The Bureau of Insurer Services and Administrative
6 Supervision, which includes powers relating to administrative
7 supervision of insurers under chapter 631.
8 c. The Bureau of Workers' Compensation, which includes
9 the powers assigned to it by chapter 440.
10 d. The Bureau of Consumer Affairs, which is authorized
11 to provide education, information, and assistance to consumers
12 relating to insurance, and which may provide information to
13 the Insurance Commissioner as appropriate for regulatory
14 review and action.
15 e. The Bureau of Administration, which shall provide
16 administrative support services for the division.
17 3. The Division for Financial Institutions and
18 Securities Industry Regulation shall have and exercise all
19 statutory powers, duties, functions and responsibilities
20 specified by law, including the powers, duties, functions, and
21 responsibilities formerly exercised by the Comptroller or the
22 Department of Banking and Finance pursuant to chapters 288,
23 494, 497, 516, 517, 520, 559, 560, 655, 657, 658, 660, 663,
24 665, and 667. The division includes the following bureaus:
25 a. The Bureau of Banking and Credit Unions.
26 b. The Bureau of Finance and Securities.
27 c. The Bureau of Financial Investigations.
28 d. The Bureau of Administration, which shall provide
29 administrative support services for the division.
30 4. The Legislature recognizes that there is a need to
31 conform the Florida Statutes to the policy decisions reflected
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SENATE AMENDMENT
Bill No. CS for CS for SB's 662 & 232, 2nd Eng.
Amendment No. ___ Barcode 631968
1 in this act and that there is a need to resolve apparent
2 conflicts between other legislation that may be adopted during
3 2002 and the creation by this act of the Department of
4 Financial Services, the Division of Insurance, and the
5 Division of Financial Institutions and Securities. Therefore,
6 no later than November 1, 2002, the Division of Statutory
7 Revision shall provide the relevant substantive committees of
8 the Senate and the House of Representatives, in cooperation
9 with the President of the Senate and the Speaker of the House
10 of Representatives, with draft substantive legislation that
11 will, if enacted, conform the Florida Statutes and any
12 legislation enacted in 2002 to this section.
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