Bill Amendment: FL S0958 | 2017 | Regular Session

NOTE: For additional amemendments please see the Bill Drafting List

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Bill Title: Financial Institutions

Status: 2017-05-05 - Died in Regulated Industries [S0958 Detail]

Download: Florida-2017-S0958-Senate_Committee_Amendment_347510.html

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       Florida Senate - 2017                        COMMITTEE AMENDMENT
       Bill No. SB 958
       
       
       
       
       
       
                                Ì347510uÎ347510                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  04/03/2017           .                                
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       The Committee on Banking and Insurance (Thurston) recommended
       the following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Delete lines 41 - 95
    4  and insert:
    5         Section 2. Subsections (2) and (5) of section 658.33,
    6  Florida Statutes, are amended to read:
    7         658.33 Directors, number, qualifications; officers.—
    8         (2) Not less than a majority of the directors must, during
    9  their whole term of service, be citizens of the United States,
   10  and at least a majority three-fifths of the directors must have
   11  resided in this state for at least 1 year preceding their
   12  election and must be residents therein during their continuance
   13  in office. In the case of a bank or trust company with total
   14  assets of less than $150 million, at least one, and in the case
   15  of a bank or trust company with total assets of $150 million or
   16  more, two of the directors who are not also officers of the bank
   17  or trust company must have had at least 1 year of direct
   18  experience as an executive officer, regulator, or director of a
   19  financial institution within the last 5 3 years.
   20         (5) The president, chief executive officer, or any other
   21  person, regardless of title, who has equivalent rank or leads
   22  the overall operations of a bank or trust company must have had
   23  at least 1 year of direct experience as an executive officer,
   24  director, or regulator of a financial institution within the
   25  last 5 3 years. This requirement may be waived by the office
   26  after considering the overall experience and expertise of the
   27  proposed officer and the condition of the bank or trust company,
   28  as reflected in the most recent regulatory examination report
   29  and other available data.
   30  
   31  ================= T I T L E  A M E N D M E N T ================
   32  And the title is amended as follows:
   33         Delete lines 6 - 9
   34  and insert:
   35         company applicant; amending s. 658.33, F.S.; revising
   36         minimum qualifications for the board of directors and
   37         certain officers of banks or trust companies;
   38         providing an effective date.