Bill Amendment: FL S0512 | 2021 | Regular Session

NOTE: For additional amemendments please see the Bill Drafting List

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Bill Title: Public Records/Application for a De Novo Banking Charter

Status: 2021-04-30 - Died in Governmental Oversight and Accountability [S0512 Detail]

Download: Florida-2021-S0512-Senate_Committee_Amendment_188548.html

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       Florida Senate - 2021                        COMMITTEE AMENDMENT
       Bill No. SB 512
       
       
       
       
       
       
                                Ì188548VÎ188548                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
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       The Committee on Banking and Insurance (Burgess) recommended the
       following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Delete everything after the enacting clause
    4  and insert:
    5         Section 1. Present subsections (5) through (14) of section
    6  655.057, Florida Statutes, are redesignated as subsections (6)
    7  through (15), respectively, a new subsection (5) is added to
    8  that section, and present subsection (14) of that section is
    9  amended, to read:
   10         655.057 Records; limited restrictions upon public access.—
   11         (5)(a) Except as otherwise provided in this section and
   12  except for those portions that are otherwise public record, the
   13  following information received by the office pursuant to an
   14  application for authority to organize a new state bank under
   15  chapter 658 is confidential and exempt from s. 119.07(1) and s.
   16  24(a), Art. I of the State Constitution:
   17         1. Personal financial information.
   18         2. A driver license number, a passport number, a military
   19  identification number, or any other similar number issued on a
   20  government document used to verify identity.
   21         3. Books and records of a current or proposed financial
   22  institution.
   23         4. The personal identifying information of a shareholder,
   24  subscriber, proposed officer, or proposed director of the
   25  proposed bank when such information has been marked by the
   26  applicant as confidential when submitted to the office. As used
   27  in this subparagraph, the term “personal identifying
   28  information” means names, home addresses, e-mail addresses,
   29  telephone numbers, names of relatives, work experience,
   30  professional licensing and educational background, and
   31  photographs.
   32         5. The proposed bank’s business plan and any attached
   33  supporting documentation when such information has been marked
   34  by the applicant as confidential when submitted to the office.
   35         (b) This subsection is subject to the Open Government
   36  Sunset Review Act in accordance with s. 119.15 and is repealed
   37  on October 2, 2026, unless reviewed and saved from repeal
   38  through reenactment by the Legislature.
   39         (15)(14) Subsections (1), (2), (6), and (10) (5), and (9)
   40  are subject to the Open Government Sunset Review Act in
   41  accordance with s. 119.15 and are repealed on October 2, 2022,
   42  unless reviewed and saved from repeal through reenactment by the
   43  Legislature.
   44         Section 2. The Legislature finds that it is a public
   45  necessity that certain information received by the Office of
   46  Financial Regulation pursuant to an application for authority to
   47  organize a new state bank under chapter 658 be made confidential
   48  and exempt from s. 119.07(1), Florida Statutes, and s. 24(a),
   49  Article I of the State Constitution to the extent that
   50  disclosure would reveal personal financial information; reveal a
   51  driver license number, a passport number, a military
   52  identification number, or any other similar number issued on a
   53  government document used to verify identity; reveal books and
   54  records of a current or proposed financial institution; reveal
   55  the personal identifying information of a shareholder,
   56  subscriber, proposed officer, or proposed director; or reveal a
   57  proposed bank’s business plan and any attached supporting
   58  documentation. The office may receive sensitive personal,
   59  financial, and business information in conjunction with its
   60  duties related to the review of applications for the
   61  organization or establishment of new state banks. An exemption
   62  from public records is necessary to ensure the office’s ability
   63  to administer its regulatory duties while preventing unwarranted
   64  damage to the proposed bank or the shareholders, subscribers,
   65  proposed officers, or proposed directors of the proposed bank or
   66  other financial institutions in this state. The release of
   67  information that could lead to the identification of an
   68  individual involved in the potential establishment of a new bank
   69  in this state may subject such individuals to retribution and
   70  jeopardize their current employment with, or participation in
   71  the affairs of, another financial institution. Thus, the public
   72  availability of such information has a chilling effect on the
   73  establishment of new banks in this state. Further, the public
   74  availability of the books and financial records of a current or
   75  proposed financial institution in this state presents an
   76  unnecessary risk of harm to the business operations of such
   77  institutions. Finally, the public availability of a proposed
   78  bank’s business plan may cause competitive harm to such bank’s
   79  future business operations and presents an unfair competitive
   80  advantage for existing financial institutions that are not
   81  required to release such information.
   82         Section 3. This act shall take effect July 1, 2021.
   83  
   84  ================= T I T L E  A M E N D M E N T ================
   85  And the title is amended as follows:
   86         Delete everything before the enacting clause
   87  and insert:
   88                        A bill to be entitled                      
   89         An act relating to public records; amending s.
   90         655.057, F.S.; providing an exemption from public
   91         records requirements for certain information received
   92         by the Office of Financial Regulation pursuant to an
   93         application for a de novo banking charter; defining
   94         the term “personal identifying information”; providing
   95         for future legislative review and repeal of the
   96         exemption; providing a statement of public necessity;
   97         providing an effective date.