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.