Florida 2022 Regular Session Status: Enacted 1 R cosponsors

SB 1680 — Financial Institutions

Last action — Chapter No. 2022-178

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Senate
  4. ✓
    Passed House
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced January 06, 2022. Enacted.

Prognosis

Likely to advance 74% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 2 sponsors

    2 primary, 0 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (1 R).

  • Cleared a recorded vote

    Passed 5 recorded votes so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Summary

Financial Institutions; Providing that the failure of foreign nationals to participate through video conference in certain hearings is grounds for denial of certain applications; revising the circumstances under which the Office of Financial Regulation is required to conduct certain examinations; revising the entities that may acquire liabilities and assets, and the liabilities and assets that may be acquired, according to certain procedures, conditions, and limitations; requiring the office, upon receiving applications for authority to organize a bank or trust company, to investigate the need for a target market and the ability of the primary service area or target market to support proposed and existing bank or trust facilities, etc.

Bill Text

What changed in the latest version

46 added · 67 removed

46 line(s) added, 67 removed.

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ENROLLED Legislature CS for SB 1680 20221680er 2 An act relating to financial institutions;
Florida Senate - 2022 CS for SB 1680 By the Committee on Rules;
and Senator Gruters 595-02962-22 20221680c1 A bill to be entitled An act relating to financial institutions;
ENROLLED Legislature CS for SB 1680 20221680er submit specified information to the office within a specified timeframe after certain meetings;
Florida Senate - 2022 CS for SB 1680 595-02962-22 20221680c1 submit specified information to the office within a specified timeframe after certain meetings;
ENROLLED Legislature CS for SB 1680 20221680er banks with which international bank agencies and international branches are required to maintain certain deposits or investment securities;
Florida Senate - 2022 CS for SB 1680 595-02962-22 20221680c1 banks with which international bank agencies and international branches are required to maintain certain deposits or investment securities;
ENROLLED Legislature CS for SB 1680 20221680er b.
Florida Senate - 2022 CS for SB 1680 595-02962-22 20221680c1 b.
ENROLLED Legislature CS for SB 1680 20221680er insurer.
Florida Senate - 2022 CS for SB 1680 595-02962-22 20221680c1 insurer.
ENROLLED Legislature CS for SB 1680 20221680er read:
Florida Senate - 2022 CS for SB 1680 595-02962-22 20221680c1 read:
ENROLLED Legislature CS for SB 1680 20221680er office shall conduct at least once during each 36-month period beginning July 1, 2023 2014, a subsequent the office shall conduct an examination of each state financial institution in a manner that allows the preparation of a complete examination report not subject to the right of a federal or other non- Florida entity to limit access to the information contained therein.
Florida Senate - 2022 CS for SB 1680 595-02962-22 20221680c1 office shall conduct at least once during each 36-month period beginning July 1, 2023 2014, a subsequent the office shall conduct an examination of each state financial institution in a manner that allows the preparation of a complete examination report not subject to the right of a federal or other non- Florida entity to limit access to the information contained therein.
ENROLLED Legislature CS for SB 1680 20221680er the commission prescribes by rule, a financial institution entity may acquire 50 percent or more all or substantially all of the assets of, liabilities of, or a combination of assets and or assume all or any part of the liabilities of, any other financial institution in accordance with the procedures and subject to the following conditions and limitations:
Florida Senate - 2022 CS for SB 1680 595-02962-22 20221680c1 the commission prescribes by rule, a financial institution entity may acquire 50 percent or more all or substantially all of the assets of, liabilities of, or a combination of assets and or assume all or any part of the liabilities of, any other financial institution in accordance with the procedures and subject to the following conditions and limitations:
ENROLLED Legislature CS for SB 1680 20221680er financial institution and the proposed sale is not for cash, a clear and concise statement that dissenting stockholders of the institution are entitled to the rights set forth in s.
Florida Senate - 2022 CS for SB 1680 595-02962-22 20221680c1 financial institution and the proposed sale is not for cash, a clear and concise statement that dissenting stockholders of the institution are entitled to the rights set forth in s.
ENROLLED Legislature CS for SB 1680 20221680er eligible to be cast or, in the case of a credit union, a majority vote of the members present at the meeting, the plan is adopted.
Florida Senate - 2022 CS for SB 1680 595-02962-22 20221680c1 eligible to be cast or, in the case of a credit union, a majority vote of the members present at the meeting, the plan is adopted.
ENROLLED Legislature CS for SB 1680 20221680er transaction;
Florida Senate - 2022 CS for SB 1680 595-02962-22 20221680c1 transaction;
ENROLLED Legislature CS for SB 1680 20221680er 657.021 Board of directors;
Florida Senate - 2022 CS for SB 1680 595-02962-22 20221680c1 657.021 Board of directors;
ENROLLED Legislature CS for SB 1680 20221680er marketing efforts;
Florida Senate - 2022 CS for SB 1680 595-02962-22 20221680c1 marketing efforts;
ENROLLED Legislature CS for SB 1680 20221680er trust company.
Florida Senate - 2022 CS for SB 1680 595-02962-22 20221680c1 trust company.
ENROLLED Legislature CS for SB 1680 20221680er applicant to have only one director who has direct financial institution experience within the last 5 years.
Florida Senate - 2022 CS for SB 1680 595-02962-22 20221680c1 applicant to have only one director who has direct financial institution experience within the last 5 years.
ENROLLED Legislature CS for SB 1680 20221680er has issued a certificate of approval in response to an application pursuant to subsection (1).
Florida Senate - 2022 CS for SB 1680 595-02962-22 20221680c1 has issued a certificate of approval in response to an application pursuant to subsection (1).
ENROLLED Legislature CS for SB 1680 20221680er office in this state.
Florida Senate - 2022 CS for SB 1680 595-02962-22 20221680c1 office in this state.
ENROLLED Legislature CS for SB 1680 20221680er States in this state, in such amounts as the office specifies, evidence of dollar deposits or investment securities of the type that may be held by a state bank for its own account pursuant to s.
Florida Senate - 2022 CS for SB 1680 595-02962-22 20221680c1 States in this state, in such amounts as the office specifies, evidence of dollar deposits or investment securities of the type that may be held by a state bank for its own account pursuant to s.
ENROLLED Legislature CS for SB 1680 20221680er under this part, a proposed qualified limited service affiliate must file a written notice with the office, in the manner and on a form prescribed by the commission.
Florida Senate - 2022 CS for SB 1680 595-02962-22 20221680c1 under this part, a proposed qualified limited service affiliate must file a written notice with the office, in the manner and on a form prescribed by the commission.
ENROLLED Legislature CS for SB 1680 20221680er this state, the following:
Florida Senate - 2022 CS for SB 1680 595-02962-22 20221680c1 this state, the following:
ENROLLED Legislature CS for SB 1680 20221680er services functions, banking, or fiduciary activities of the international trust entity are not listed on the Financial Action Task Force’s list of High-Risk Jurisdictions subject to a Call for Action or list of Jurisdictions under Increased Monitoring Force Public Statement or on its list of jurisdictions with deficiencies in anti-money laundering or counterterrorism.
Florida Senate - 2022 CS for SB 1680 595-02962-22 20221680c1 services functions, banking, or fiduciary activities of the international trust entity are not listed on the Financial Action Task Force’s list of High-Risk Jurisdictions subject to a Call for Action or list of Jurisdictions under Increased Monitoring Force Public Statement or on its list of jurisdictions with deficiencies in anti-money laundering or counterterrorism.
ENROLLED Legislature CS for SB 1680 20221680er (5)(a) An investment by a trustee authorized by lawful authority to engage in trust business, as defined in s.
Florida Senate - 2022 CS for SB 1680 595-02962-22 20221680c1 (5)(a) An investment by a trustee authorized by lawful authority to engage in trust business, as defined in s.
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Action History

  1. Chapter No. 2022-178

  2. Approved by Governor

  3. Signed by Officers and presented to Governor

  4. Ordered enrolled

  5. CS passed; YEAS 112, NAYS 0

  6. Read 3rd time

  7. Added to Third Reading Calendar

  8. Placed on 3rd reading

  9. Read 2nd time

  10. Substituted for CS/CS/HB 431

  11. 1st Reading (Committee Substitute 1)

  12. Bill added to Special Order Calendar (3/3/2022)

  13. Bill referred to House Calendar

  14. In Messages

  15. Immediately certified

  16. CS passed; YEAS 38 NAYS 0

  17. Read 3rd time

  18. Read 2nd time

  19. CS by Rules read 1st time

  20. Placed on Special Order Calendar, 02/17/22

  21. Placed on Calendar, on 2nd reading

  22. Pending reference review -under Rule 4.7(2) - (Committee Substitute)

  23. CS by- Rules; YEAS 17 NAYS 0

  24. On Committee agenda-- Rules, 02/10/22, 11:00 am, 412 Knott Building

  25. Now in Rules

  26. Favorable by Appropriations; YEAS 18 NAYS 0

  27. On Committee agenda-- Appropriations, 01/27/22, 11:30 am, 412 Knott Building

  28. Now in Appropriations

  29. Favorable by Banking and Insurance; YEAS 9 NAYS 0

  30. Introduced

  31. On Committee agenda-- Banking and Insurance, 01/18/22, 3:30 pm, 412 Knott Building

  32. Referred to Banking and Insurance; Appropriations; Rules

  33. Filed

Sponsors

Sponsorship breakdown

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2 sponsors · 0 co-sponsors · 162 not signed on

Sponsors (2)

Co-sponsors (0)

None.

Not signed on (162)

162 members have not signed on to this bill.

Show all 162 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Passage, Third Reading

Passed 112 Yea · 0 Nay · 7 Other
Party YeaNayPresentNot Voting
Unaffiliated 48004
Republican 45001
Democrat 19002
Total 112007
% of votes cast 94%0%0%6%
How each member voted (119)
Member Party Vote
Alexander — Yea
Aloupis — Yea
Geller — Yea
Altman — Yea
Goff-Marcil — Yea
Renner — Yea
Roach — Yea
Grieco — Yea
Beltran — Yea
Benjamin — Yea
Harding — Yea
Rommel — Yea
Roth — Yea
Hawkins — Yea
Sabatini — Yea
Brown — Yea
Ingoglia — Yea
Silvers — Yea
Jenne — Yea
Bush — Yea
Killebrew — Yea
Slosberg-King — Yea
Byrd — Yea
Caruso — Yea
Latvala — Yea
Casello — Yea
Learned — Yea
Sprowls — Yea
Clemons — Yea
Mariano — Yea
Toledo — Yea
Tomkow — Yea
Diamond — Yea
Drake — Yea
McCurdy — Yea
Duran — Yea
Willhite — Yea
Morales — Yea
Williams — Yea
Williamson — Yea
Fernandez-Barquin — Yea
Omphroy — Yea
Fetterhoff — Yea
Fine — Yea
Payne — Yea
Zika — Yea
Fischer — Yea
Grant — Not Voting
Bell — Not Voting
Hage — Not Voting
Stevenson — Not Voting
Thompson, Geraldine F. "Geri" — Yea
Arrington, Kristen Aston Democrat Not Voting
Bartleman, Robin Democrat Yea
Campbell, Daryl Democrat Yea
Chambliss, Kevin D. Democrat Yea
Daley, Dan Democrat Yea
Davis, Tracie Democrat Yea
Driskell, Fentrice Democrat Yea
Eskamani, Dr. Anna V. Democrat Yea
Gottlieb, Michael "Mike" Democrat Yea
Gregory, Emily Democrat Yea
Hart-Lowman, Dianne "Ms Dee" Democrat Yea
Hinson, Yvonne Hayes Democrat Not Voting
Hunschofsky, Christine Democrat Yea
Joseph, Dotie Democrat Yea
Nixon, Angela "Angie" Democrat Yea
Rayner, Michele K. Democrat Yea
Robinson, Felicia Simone Democrat Yea
Skidmore, Kelly Democrat Yea
Smith, Carlos Guillermo Democrat Yea
Tant, Allison Democrat Yea
Woodson, Marie Paule Democrat Yea
Andrade, Robert Alexander "Alex" Republican Yea
Barnaby, Webster Republican Yea
Borrero, David Republican Yea
Botana, Adam Republican Yea
Brannan III, Robert Charles "Chuck" Republican Yea
Buchanan, James Republican Yea
Burton, Colleen Republican Yea
Busatta, Demi Republican Yea
Chaney, Linda Republican Yea
DiCeglie, Nick Republican Yea
Duggan, Wyman Republican Yea
Fabricio, Tom Republican Yea
Garrison, Sam Republican Yea
Giallombardo, Mike Republican Yea
Grall, Erin Republican Yea
Koster, Traci Republican Yea
LaMarca, Chip Republican Yea
Leek, Thomas J. "Tom" Republican Yea
Maggard, Randall Scott "Randy" Republican Yea
Maney, Patt Republican Yea
Massullo, Ralph E., Jr. Republican Yea
McClain, Stan Republican Yea
McClure, Lawrence Republican Yea
McFarland, Fiona Republican Yea
Melo, Lauren Republican Yea
Mooney Jr., James Vernon "Jim" Republican Yea
Overdorf, Tobin Rogers "Toby" Republican Yea
Perez, Daniel Republican Yea
Persons-Mulicka, Jenna Republican Yea
Plakon, Rachel Saunders Republican Yea
Plasencia, Susan Republican Not Voting
Rizo, Alex Republican Yea
Robinson Jr., William Cloud "Will" Republican Yea
Rodriguez, Ana Maria Republican Yea
Salzman, Michelle Republican Yea
Shoaf, Jason Republican Yea
Sirois, Tyler I. Republican Yea
Smith, David Republican Yea
Snyder, John Republican Yea
Trabulsy, Dana Republican Yea
Truenow, Keith L. Republican Yea
Trumbull, Jay Republican Yea
Tuck, Kaylee Republican Yea
Vacant Republican Yea
Valdés, Susan L. Republican Yea
Yarborough, Clay Republican Yea

Official roll call →

Third Reading

Passed 38 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Republican 13000
Unaffiliated 20001
Democrat 4000
No Party Affiliation 1000
Total 38001
% of votes cast 97%0%0%3%
How each member voted (39)
Member Party Vote
Diaz — Yea
Ausley — Yea
Farmer — Yea
Powell — Yea
Baxley — Yea
Gainer — Yea
Rodrigues — Yea
Bean — Yea
Gibson — Yea
Book — Yea
Stargel — Yea
Stewart — Yea
Bracy — Yea
Taddeo — Yea
Hutson — Yea
Torres — Yea
Brandes — Yea
Broxson — Yea
Perry — Yea
Cruz — Yea
President Simpson — Not Voting
Berman, Lori Democrat Yea
Jones, Shevrin D. "Shev" Democrat Yea
Polsky, Tina Scott Democrat Yea
Rouson, Darryl Ervin Democrat Yea
Pizzo, Jason W. B. No Party Affiliation Yea
Albritton, Ben Republican Yea
Boyd, Jim Republican Yea
Bradley, Jennifer Republican Yea
Brodeur, Jason Republican Yea
Burgess, Danny Republican Yea
Garcia, Ileana Republican Yea
Gruters, Joe Republican Yea
Harrell, Gayle Republican Yea
Hooper, Ed Republican Yea
Mayfield, Debbie Republican Yea
Passidomo, Kathleen Republican Yea
Rodriguez, Ana Maria Republican Yea
Wright, Tom A. Republican Yea

Official roll call →

Favorable with Committee Substitute

Passed 17 Yea · 0 Nay
Party YeaNayPresentNot Voting
Republican 6000
Unaffiliated 11000
Total 17000
% of votes cast 100%0%0%0%
How each member voted (17)
Member Party Vote
Baxley — Yea
Bean — Yea
Book — Yea
Bracy — Yea
Brandes — Yea
Diaz — Yea
Farmer — Yea
Gibson — Yea
Hutson — Yea
Powell — Yea
Stargel — Yea
Albritton, Ben Republican Yea
Boyd, Jim Republican Yea
Garcia, Ileana Republican Yea
Gruters, Joe Republican Yea
Mayfield, Debbie Republican Yea
Passidomo, Kathleen Republican Yea

Official roll call →

Favorable

Passed 18 Yea · 0 Nay · 2 Other
Party YeaNayPresentNot Voting
Republican 4000
Unaffiliated 12002
No Party Affiliation 1000
Democrat 1000
Total 18002
% of votes cast 90%0%0%10%
How each member voted (20)
Member Party Vote
Baxley — Yea
Book — Yea
Brandes — Yea
Broxson — Yea
Diaz — Yea
Gibson — Yea
Hutson — Yea
Perry — Yea
Powell — Yea
Stewart — Yea
Bean — Yea
Stargel — Yea
Bracy — Not Voting
Gainer — Not Voting
Rouson, Darryl Ervin Democrat Yea
Pizzo, Jason W. B. No Party Affiliation Yea
Albritton, Ben Republican Yea
Hooper, Ed Republican Yea
Mayfield, Debbie Republican Yea
Passidomo, Kathleen Republican Yea

Official roll call →

Favorable

Passed 9 Yea · 0 Nay · 2 Other
Party YeaNayPresentNot Voting
Republican 3001
Unaffiliated 6000
Democrat 0001
Total 9002
% of votes cast 82%0%0%18%
How each member voted (11)
Member Party Vote
Rodrigues — Yea
Stargel — Yea
Stewart — Yea
Taddeo — Yea
Broxson — Yea
Brandes — Yea
Rouson, Darryl Ervin Democrat Not Voting
Boyd, Jim Republican Not Voting
Burgess, Danny Republican Yea
Gruters, Joe Republican Yea
Passidomo, Kathleen Republican Yea

Official roll call →

Subjects

finance
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Frequently asked questions

What does SB 1680 do?
Financial Institutions; Providing that the failure of foreign nationals to participate through video conference in certain hearings is grounds for denial of certain applications; revising the circumstances under which the Office of Financial Regulation is required to conduct certain examinations; revising the entities that may acquire liabilities and assets, and the liabilities and assets that may be acquired, according to certain procedures, conditions, and limitations; requiring the office, upon receiving applications for authority to organize a bank or trust company, to investigate the need for a target market and the ability of the primary service area or target market to support proposed and existing bank or trust facilities, etc.
Who sponsors SB 1680?
SB 1680 is sponsored by Rules and Gruters, Joe (Republican).
What is the current status of SB 1680?
This bill has been enacted into law. Introduced January 06, 2022. Enacted.
Where can I track SB 1680?
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