CS/CS/HB 311: Securities
GENERAL BILL by Commerce Committee ; Insurance & Banking Subcommittee ; Barnaby ; (CO-INTRODUCERS) López, J.
Securities; Revises list of securities & transactions that are exempt from registration requirements; authorizes issuer to engage in general advertising & solicitation; removes requirements for escrow agreement; revises amount that may be received for sales of certain securities; provides certain sales are voidable within specified timeframe; specifies limitation on amount of cash & other consideration that may be received from sales of securities; prohibits issuer from accepting more than specified amount from single purchaser; prohibits issuer from withdrawing any amount of offering proceeds until target offering amount has been received; provides that certain communications are not deemed to constitute general solicitation or general advertising.
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Bill History
Date Chamber Action 11/1/2023 House • Filed
11/13/2023 House • Referred to Insurance & Banking Subcommittee
• Referred to State Administration & Technology Appropriations Subcommittee
• Referred to Commerce Committee
• Now in Insurance & Banking Subcommittee
1/9/2024 House • Added to Insurance & Banking Subcommittee agenda
• 1st Reading (Original Filed Version)
1/16/2024 House • PCS added to Insurance & Banking Subcommittee agenda
1/18/2024 House • Favorable with CS by Insurance & Banking Subcommittee
1/19/2024 House • Reported out of Insurance & Banking Subcommittee
• Laid on Table under Rule 7.18(a)
• CS Filed
1/22/2024 House • Original reference removed: State Administration & Technology Appropriations Subcommittee
• Referred to Commerce Committee
• Now in Commerce Committee
• 1st Reading (Committee Substitute 1)
1/26/2024 House • Added to Commerce Committee agenda
1/30/2024 House • Favorable with CS by Commerce Committee
1/31/2024 House • Reported out of Commerce Committee
2/1/2024 House • Laid on Table under Rule 7.18(a)
• CS Filed
• 1st Reading (Committee Substitute 2)
2/2/2024 House • Bill referred to House Calendar
• Added to Second Reading Calendar
2/26/2024 House • Bill added to Special Order Calendar (2/29/2024)
2/29/2024 House • Temporarily postponed, on 2nd Reading
• Added to Second Reading Calendar
3/4/2024 House • Laid on Table
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CS/CS/HB 311, Committee Substitute 2 (Current Bill Version) Posted 2/1/2024 at 10:15 AM
Bill Text: PDF Analyses: None Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 532 (er) Securities Brodeur Similar Last Action: 5/13/2024 Chapter No. 2024-168 
Citations - Statutes (25)
Citation Catchline Location in Bill Location In Bill Help 517.021 Definitions. Page 9 (pdf) 517.051 Exempt securities. Page 14 (pdf) 517.061 Exempt transactions. Page 20 (pdf) 517.0611 Intrastate crowdfunding. Page 36 (pdf) 517.0612 Page 55 (pdf) 517.0613 Page 60 (pdf) 517.0614 Page 61 (pdf) 517.0615 Page 63 (pdf) 517.0616 Page 67 (pdf) 517.072 Viatical settlement investments. Page 105 (pdf) 517.081 Registration procedure. Page 67 (pdf) 517.101 Consent to service. Page 74 (pdf) 517.12 Registration of dealers, associated persons, intermediaries, and investment advisers. Page 107 (pdf) 517.1201 Notice filing requirements for federal covered advisers. Page 110 (pdf) 517.1202 Notice-filing requirements for branch offices. Page 111 (pdf) 517.131 Securities Guaranty Fund. Page 75 (pdf) 517.141 Payment from the fund. Page 82 (pdf) 517.191 Injunction to restrain violations; civil penalties; enforcement by Attorney General. Page 89 (pdf) 517.211 Remedies available in cases of unlawful sale. Page 96 (pdf) 517.221 Cease and desist orders. Page 100 (pdf) 517.241 Remedies. Page 100 (pdf) 517.301 Fraudulent transactions; falsification or concealment of facts. Page 100 (pdf) 517.302 Criminal penalties; alternative fine; Anti-Fraud Trust Fund; time limitation for criminal prosecution. Page 112 (pdf) 517.311 False representations; deceptive words; enforcement. Page 105 (pdf) 517.312 Securities, investments, boiler rooms; prohibited practices; remedies. Page 105 (pdf) -
CS/HB 311, Committee Substitute 1 Posted 1/19/2024 at 6:20 PM
Bill Text: PDF Analyses: Commerce Committee (Post-Meeting) 1/31/2024 (pdf)
Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 532 (c1) Securities Brodeur Similar Last Action: 5/13/2024 Chapter No. 2024-168
Committee Amendments (1)
Amendment Sponsor Filed Last Committee Action Format 586997 - Amendment
Remove lines 561-575 and insert:Barnaby 1/29/2024
6:54 PMAdopted without Objection
1/30/2024PDF Citations - Statutes (25)
Citation Catchline Location in Bill Location In Bill Help 517.021 Definitions. Page 9 (pdf) 517.051 Exempt securities. Page 14 (pdf) 517.061 Exempt transactions. Page 20 (pdf) 517.0611 Intrastate crowdfunding. Page 36 (pdf) 517.0612 Page 55 (pdf) 517.0613 Page 60 (pdf) 517.0614 Page 61 (pdf) 517.0615 Page 63 (pdf) 517.0616 Page 67 (pdf) 517.072 Viatical settlement investments. Page 105 (pdf) 517.081 Registration procedure. Page 67 (pdf) 517.101 Consent to service. Page 74 (pdf) 517.12 Registration of dealers, associated persons, intermediaries, and investment advisers. Page 107 (pdf) 517.1201 Notice filing requirements for federal covered advisers. Page 110 (pdf) 517.1202 Notice-filing requirements for branch offices. Page 111 (pdf) 517.131 Securities Guaranty Fund. Page 75 (pdf) 517.141 Payment from the fund. Page 82 (pdf) 517.191 Injunction to restrain violations; civil penalties; enforcement by Attorney General. Page 89 (pdf) 517.211 Remedies available in cases of unlawful sale. Page 96 (pdf) 517.221 Cease and desist orders. Page 100 (pdf) 517.241 Remedies. Page 100 (pdf) 517.301 Fraudulent transactions; falsification or concealment of facts. Page 100 (pdf) 517.302 Criminal penalties; alternative fine; Anti-Fraud Trust Fund; time limitation for criminal prosecution. Page 112 (pdf) 517.311 False representations; deceptive words; enforcement. Page 105 (pdf) 517.312 Securities, investments, boiler rooms; prohibited practices; remedies. Page 105 (pdf) -
HB 311, Original Filed Version Posted 11/1/2023 at 11:02 AM
Bill Text: PDF Analyses: Insurance & Banking Subcommittee (Post-Meeting) 3/12/2024 (pdf)
Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 532 (c1) Securities Brodeur Similar Last Action: 5/13/2024 Chapter No. 2024-168
Committee Amendments (1)
Amendment Sponsor Filed Last Committee Action Format 165013 - Strike All Amendment
Remove everything after the enacting clause and insert:Barnaby 1/10/2024
7:30 PMAdopted without Objection
1/11/2024PDF Citations - Statutes (24)
Citation Catchline Location in Bill Location In Bill Help 517.021 Definitions. Page 6 (pdf) 517.051 Exempt securities. Page 11 (pdf) 517.061 Exempt transactions. Page 18 (pdf) 517.0611 Intrastate crowdfunding. Page 34 (pdf) 517.0612 Page 53 (pdf) 517.0613 Page 58 (pdf) 517.0614 Page 58 (pdf) 517.0615 Page 61 (pdf) 517.0616 Page 64 (pdf) 517.072 Viatical settlement investments. Page 101 (pdf) 517.081 Registration procedure. Page 64 (pdf) 517.101 Consent to service. Page 71 (pdf) 517.12 Registration of dealers, associated persons, intermediaries, and investment advisers. Page 103 (pdf) 517.1202 Notice-filing requirements for branch offices. Page 105 (pdf) 517.131 Securities Guaranty Fund. Page 73 (pdf) 517.141 Payment from the fund. Page 80 (pdf) 517.191 Injunction to restrain violations; civil penalties; enforcement by Attorney General. Page 86 (pdf) 517.211 Remedies available in cases of unlawful sale. Page 94 (pdf) 517.221 Cease and desist orders. Page 96 (pdf) 517.241 Remedies. Page 96 (pdf) 517.301 Fraudulent transactions; falsification or concealment of facts. Page 96 (pdf) 517.302 Criminal penalties; alternative fine; Anti-Fraud Trust Fund; time limitation for criminal prosecution. Page 106 (pdf) 517.311 False representations; deceptive words; enforcement. Page 101 (pdf) 517.312 Securities, investments, boiler rooms; prohibited practices; remedies. Page 101 (pdf)