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In the Florida legislative process, we are concluding week 8 out of 9. As you can imagine it's been a very busy week with bills coming down to the wire and time expiring. Florida's Legislative Session is scheduled to conclude Friday, May 5th. This is a status update on some of the legislation we are tracking.
SB 7052 / HB 7065 - Insurer Accountability
Revises requirements & conditions for certain insurer market conduct examinations after hurricane; specifies factors office may consider in determining whether continued operation of insurer may be deemed to be hazardous; prohibits officer or director of insolvent or impaired insurer from receiving bonus from such insurer; prohibits Citizens Property Insurance Corporation from determining that risk is ineligible for coverage solely on specified basis; revises prohibitions on insurers against cancellation or nonrenewal of residential property insurance policies; provides if roof deductible is applied under personal lines residential property insurance policy, no other deductible may be applied to other loss to property caused by same covered peril. Effective Date: July 1, 2023.
SB 7052 passed the Senate Floor and is sent to the House in Messages for the House's consideration. The bill was amended in week 7 to remove the language seeking to affect Title Insurance.
Link: SB 7052 First Engrossed version heading to the House
HB 7065 is awaiting to be scheduled on the Special Order Calendar for House consideration.
HB 743/SB 708 - Estoppel Certificates (Mortgage Estoppels)
Revises timeframe for mortgagee or mortgage servicer to send estoppel letter; revises requirements for estoppel letter; prohibits mortgagee or mortgage servicer from denying accuracy of estoppel letter; requires payments be applied to unpaid balance of mortgage; provides methods for sending written request for estoppel letter, estoppel letter, & corrected estoppel letter; requires mortgagee or mortgage servicer to take actions within specified time after unpaid balance of loan secured by mortgage has been fully paid; authorizes attorney fees & costs; provides liability.
HB 743 is awaiting placement on a House Special Order Calendar. (No Change)
SB 708 passed the State Senate by a vote of 40-0 and will now head to the House to be paired with HB 743. (No Change)
HB 861/ SB 770 - Residential Loan Alternative Agreements
Specifies limitation on term of option to enter into listing agreement for disposition of residential real property; prohibits court from enforcing option to enter into listing agreement by certain means; requires notice & written agreement of residential property owner before broker may assign option to enter into listing agreement to another broker; provides penalties for violations.
SB 770 passed the State Senate by a vote of 40-0 and the House of Representatives by a vote of 116-0 and will now head to Governor DeSantis for his consideration.
Link: SB 770 as Enrolled
HB 1419/SB 1436 - Property Fraud
Requires clerk of circuit court to create, maintain, & operate opt-in recording notification service through electronic registration portal; specifies portal & notification requirements; provides immunity from liability for clerk; clarifies that action may be brought to quiet title after fraudulent attempted conveyance; directs clerk to provide simplified complaint form; requires real estate licensees & parties providing real estate transaction closing services to send fraud prevention notice; limits liability of real estate licensee for noncompliance but provides that such noncompliance may be introduced as evidence for certain violations; provides that failure of property owner to respond notice does not preclude or limit his or her ability to establish certain challenges or defenses or limit his or her remedy in any quiet title or declaratory judgment action; prescribes form for quitclaim deed; revises requirements for recording instruments affecting real property.
HB 1419 was amended to remove real estate professionals and title agents from sending notices.
- Passed the House 116-0 and is delivered to the Senate to be paired with SB 1436.
SB 1436 is awaiting placement on the Senate Special Order Calendar (No Change)
HB 487/SB 1158 - Department of Financial Services
Section 10 of this bill includes a glitch fix from legislation in 2022.
Department of Financial Services: Revises eligibility for plans of deferred compensation established by CFO; authorizes judge of compensation claims to order injured employee's evaluation by expert medical advisor; revises conditions for nonprofit religious organization to be exempt from requirements of insurance code; adds limited license for transacting preneed funeral agreement insurance; revises licensure requirements for reinsurance intermediary brokers & reinsurance intermediary managers; authorizes certain persons to obtain limited license to sell only policies of life insurance covering expense of prearrangement for funeral services or merchandise; revises requirements, conditions, & procedures for bail bond agency license. Effective date: Upon Becoming a Law.
HB 487 was sent to the Senate where it was taken up, amended, and passed 37-0. HB 487 will now be returned to the House for their consideration as amended or decline to receive as amended and return to the Senate.
Link: HB 487 Engrossed 1 version being sent back to House
SB 1158 laid on the table. Now referring to HB 487.
HB 49/SB 430 - Abandoned Cemeteries
Abandoned and Historic Cemeteries: Creates Historic Cemeteries Program within Division of Historical Resources of DOS; creates Historic Cemeteries Program Advisory Council; authorizes certain entities to acquire conservation easements to preserve cemeteries.
HB 49 - Passed the House Floor by unanimous vote and delivered to the Senate to be paired with SB 430. (No Change)
SB 430 - Passed Appropriations Committee during week 8 and awaits 2nd reading to then be placed on Special Order Calendar.
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