Bill Text: FL H0855 | 2010 | Regular Session | Comm Sub

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Bill Title: Title Insurance Regulatory Trust Fund/DFS

Spectrum: Partisan Bill (Republican 1-0)

Status: (Failed) 2010-04-30 - Died in Criminal & Civil Justice Policy Council [H0855 Detail]

Download: Florida-2010-H0855-Comm_Sub.html

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CS/HB 855

1	A bill to be entitled
2	An act relating to trust funds; creating s. 637.1028,
3	F.S.; creating the Title Insurance Regulatory Trust Fund
4	within the Department of Financial Services; providing for
5	administration of the trust fund and use of moneys
6	therein; requiring balances to remain in the trust fund;
7	providing for future review and termination or re-creation
8	of the trust fund; providing a contingent effective date.
9
10	Be It Enacted by the Legislature of the State of Florida:
11
12	Section 1. Section 637.1028, Florida Statutes, is created
13	to read:
14	637.1028 Title Insurance Regulatory Trust Fund.-
15	(1) The Title Insurance Regulatory Trust Fund is created
16	within the Department of Financial Services. All fees and
17	charges collected from title insurers and title insurance agents
18	and agencies pursuant to s. 637.2031 shall be deposited into the
19	Title Insurance Regulatory Trust Fund and shall be used for the
20	sole purpose of carrying out the title insurance regulatory
21	responsibilities of the department.
22	(2) Notwithstanding s. 216.301 and pursuant to s. 216.351,
23	any balance in the trust fund at the end of any fiscal year
24	shall remain in the trust fund and be available for carrying out
25	the purposes of the trust fund.
26	(3) Pursuant to s. 19(f)(2), Art. III of the State
27	Constitution, the trust fund shall, unless terminated sooner, be
28	terminated on July 1, 2014. Prior to its scheduled termination,
29	the trust fund shall be reviewed as provided in s. 215.3206(1)
30	and (2).
31	Section 2. This act shall take effect October 1, 2010, if
32	House Bill 853 or similar legislation is adopted in the same
33	legislative session or an extension thereof and becomes law.

CODING: Words stricken are deletions; words underlined are additions.