CS/CS/SB 1612: Financial Services

GENERAL BILL by Fiscal Policy, Banking and Insurance, Grall

Financial Services; Revising the conditions for insurance coverage to be eligible for export; requiring state financial institutions to pay a semiannual assessment for specified time periods; authorizing the office to issue a specified certificate under certain circumstances; authorizing certain elected officers, directors, or committee members of a credit union to be reimbursed for certain expenses, etc.

Current Bill Version Posted: 4/21/2025 09:23 AM

• Senate Committee References (3)

  1. Banking and Insurance (BI)
  2. Appropriations Committee on Agriculture, Environment, and General Government (AEG)
  3. Fiscal Policy (FP)

• Related Bills (5)

  Bill Number Subject Filed By Last Action and Location	Relationship Learn more about bill relationships
  H 1549 (er) by Insurance & Banking Subcommittee Financial Services Last Action: 5/2/2025 H Ordered engrossed, then enrolled	Similar
  H 173 by Brackett Interest on Trust Accounts Program Interest Rates Last Action: 5/3/2025 H Indefinitely postponed and withdrawn from consideration	Compare
  H 643 (c2) by Insurance & Banking Subcommittee Insurance Last Action: 5/3/2025 S Indefinitely postponed and withdrawn from consideration	Compare
  S 498 (e1) by Grall Trust Fund Interest for Purposes Approved by the Supreme Court Last Action: 5/3/2025 H Indefinitely postponed and withdrawn from consideration	Compare
  S 1184 (c1) by DiCeglie Residual Market Insurers Last Action: 5/3/2025 S Indefinitely postponed and withdrawn from consideration	Compare

• Citations - Statute (15)

  The page numbers, when listed, for citations are constantly under review. The journals or printed bills of the respective chambers should be consulted as the official documents of the Legislature.
  
  The links for the page numbers are formatted to open the bill text PDF directly to the page containing the citation. However, if your browser is set to open PDFs in a new window, as is often the case with 64-bit browsers, the bill text will open to the first page.

  626.914	Definitions.	Page 2 [pdf]
  626.916	Eligibility for export.	Page 3 [pdf]
  626.918	Eligible surplus lines insurers.	Page 5 [pdf]
  626.932	Surplus lines tax.	Page 6 [pdf]
  626.9325	Service fee.	Page 7 [pdf]
  626.9541	Unfair methods of competition and unfair or deceptive acts or practices defined.	Page 7 [pdf]
  627.715	Flood insurance.	Page 12 [pdf]
  655.047	Assessments; financial institutions.	Page 12 [pdf]
  655.414	Acquisition of assets; assumption of liabilities.	Page 13 [pdf]
  655.97		Page 15 [pdf]
  657.002	Definitions.	Page 16 [pdf]
  657.028	Activities of directors, officers, committee members, employees, and agents.	Page 16 [pdf]
  657.043	Reserves.	Page 16 [pdf]
  658.235	Subscriptions for stock; approval of major shareholders.	Page 17 [pdf]
  658.25	Opening for business.	Page 17 [pdf]

• Bill History

  S = Senate, H = House

  2/27/2025	S	• Filed
  3/6/2025	S	• Referred to Banking and Insurance; Appropriations Committee on Agriculture, Environment, and General Government; Fiscal Policy
  3/10/2025	S	• Introduced
  3/12/2025	S	• On Committee agenda-- Banking and Insurance, 03/17/25, 1:30 pm, 412 Knott Building
  3/17/2025	S	• CS by Banking and Insurance; YEAS 7 NAYS 0
  3/19/2025	S	• Pending reference review under Rule 4.7(2) - (Committee Substitute) • Now in Appropriations Committee on Agriculture, Environment, and General Government • CS by Banking and Insurance read 1st time
  4/7/2025	S	• On Committee agenda-- Appropriations Committee on Agriculture, Environment, and General Government, 04/10/25, 11:00 am, 412 Knott Building
  4/10/2025	S	• Favorable by Appropriations Committee on Agriculture, Environment, and General Government; YEAS 11 NAYS 0 • Now in Fiscal Policy
  4/14/2025	S	• On Committee agenda-- Fiscal Policy, 04/17/25, 9:00 am, 412 Knott Building
  4/17/2025	S	• CS/CS by- Fiscal Policy; YEAS 14 NAYS 3
  4/21/2025	S	• Pending reference review -under Rule 4.7(2) - (Committee Substitute)
  4/22/2025	S	• CS/CS by Fiscal Policy read 1st time
  4/24/2025	S	• Placed on Calendar, on 2nd reading
  4/28/2025	S	• Placed on Special Order Calendar, 04/30/25
  4/30/2025	S	• Read 2nd time -SJ 976 • Substituted CS/HB 1549 -SJ 976 • Laid on Table, refer to CS/HB 1549 -SJ 976