Financial Services

The bill title and scope changed from 'financial institutions' to 'financial services' to reflect broader coverage including insurance and money services businesses.

New definition of 'control person' was added to section 560.103, defining shareholders with 25% or more voting power in money services businesses.

Definition of 'diligent effort' in section 626.914 was revised to specify rejection thresholds based on dwelling replacement cost ($700,000 or more requires only one rejection).

The definition of 'diligent effort' was deleted from section 626.914 in the original version, though it was later re-added with modifications in the final version.

New eligibility requirements for insurance coverage export were added to section 626.916, establishing conditions under which insurance can be exported.

Financial institution assessment requirements were moved from Section 1 to a later section, while insurance-related provisions were moved to the beginning of the bill.

The bill was renumbered from 6 pages to 19 pages, indicating substantial content additions and reorganization.

Added new provision authorizing elected officers, directors, or committee members of credit unions to be reimbursed for certain expenses (amending s. 657.028, F.S.).

Corrected formatting in the title page and bill summary section, changing from 'HB 1549' to 'CS/HB 1549' and adjusting page counts from 7 to 6 pages.

Minor formatting adjustments to section headers and spacing throughout the document.