Florida Senate - 2017 COMMITTEE AMENDMENT Bill No. SB 830 Ì591686SÎ591686 LEGISLATIVE ACTION Senate . House Comm: RCS . 04/05/2017 . . . . ————————————————————————————————————————————————————————————————— ————————————————————————————————————————————————————————————————— The Committee on Regulated Industries (Baxley) recommended the following: 1 Senate Amendment (with title amendment) 2 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. 26 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.