Florida Senate - 2017                        COMMITTEE AMENDMENT
       Bill No. SB 830
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  04/05/2017           .                                

       The Committee on Regulated Industries (Baxley) recommended the
    1         Senate Amendment (with title amendment)
    3         Delete everything after the enacting clause
    4  and insert:
    5         Section 1. Subsections (2) and (3) of section 494.00115,
    6  Florida Statutes, are renumbered as subsections (3) and (4),
    7  respectively, and a new subsection (2) is added to that section,
    8  to read:
    9         494.00115 Exemptions.—
   10         (2)A securities dealer, an investment adviser, or an
   11  associated person registered under s. 517.12 is exempt from
   12  regulation under this part and part II of this chapter if such
   13  person, in the normal course of conducting securities business
   14  with a corporate or an individual client:
   15         (a)Solicits or offers to solicit a mortgage loan from a
   16  securities client or refers a securities client to an entity
   17  exempt under paragraph (1)(b), a licensed mortgage broker, a
   18  licensed mortgage lender, or a registered loan originator; and
   19         (b)Does not accept or offer to accept an application for a
   20  mortgage loan, negotiate or offer to negotiate the terms or
   21  conditions of a new or existing mortgage loan on behalf of a
   22  borrower or lender, or negotiate or offer to negotiate the sale
   23  of an existing mortgage loan to a noninstitutional investor for
   24  compensation or gain.
   25         Section 2. This act shall take effect July 1, 2017.
   27  ================= T I T L E  A M E N D M E N T ================
   28  And the title is amended as follows:
   29         Delete everything before the enacting clause
   30  and insert:
   31                        A bill to be entitled                      
   32         An act relating to mortgage brokering; amending s.
   33         494.00115, F.S.; providing an exemption from
   34         regulation under parts I and II of ch. 494, F.S.,
   35         under certain circumstances, for certain securities
   36         dealers, investment advisers, and associated persons;
   37         providing an effective date.