PCS for CS/HB 939 — Consumer Protection (Commerce Committee, 2024)
Summary
Proposed committee substitute PCS for CS/HB 939, marked ORIGINAL (2024), a bill to be entitled An act relating to consumer protection. The title says it revises requirements for payment settlement entities submitting information returns to the Department of Revenue and adds grounds for suspending and disqualifying qualified public depositories. It creates section 415.10341, Florida Statutes, authorizing financial institutions to delay a disbursement or transaction from the account of a specified adult, with a court of competent jurisdiction able to shorten or extend the delay. It also lets insureds and claimants cancel roof contracts without penalty and updates the fireworks display code. The act takes effect July 1, 2024.
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“PCS for CS/HB 939 — Consumer Protection (Commerce Committee, 2024).”
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
PCS for CS/HB 939 ORIGINAL 2024
1 A bill to be entitled
2 An act relating to consumer protection; amending s.
3 212.134, F.S.; defining terms; revising requirements
4 for payment settlement entities, or their electronic
5 payment facilitators or contracted third parties, in
6 submitting information returns to the Department of
7 Revenue; specifying requirements for third party
8 settlement organizations that conduct certain
9 transactions; amending s. 280.051, F.S.; providing
10 additional grounds for qualified public depositories
11 to be suspended and disqualified; amending s. 280.054,
12 F.S.; providing additional acts deemed knowing and
13 willful violations by qualified public depositories
14 which are subject to certain penalties; creating s .
15 415.10341, F.S.; defining terms; providing legislative
16 findings and intent; authorizing financial
17 institutions, under certain circumstances, to delay a
18 disbursement or transaction from an account of a
19 specified adult; requiring the financial institution
20 to make certain information available upon request by
21 certain entities; specifying that a delay on a
22 disbursement or transaction expires on a certain date;
23 authorizing the financial institution to extend the
24 delay under certain circumstances; authorizing a court
25 of competent jurisdiction to shorten or extend the
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26 delay; providing construction; requiring financial
27 institutions to take certain actions before placing a
28 delay on a disbursement or transaction; providing
29 construction; amending s. 489.147, F.S.; authorizing
30 insureds and claimants to cancel contracts to replace
31 or repair a roof without penalty or obligation within
32 a specified timeframe under certain circumstances;
33 requiring contractors to include a notice in the
34 contracts with residential property owners under
35 certain circumstances; proving requirements for
36 notices of contract cancellation; amending s.
37 559.9611, F.S.; revising the definition of the term
38 "depository institution"; amending s. 624.424, F.S.;
39 providing requirements for certain insurers'
40 accountants; amending s. 626.8796, F.S.; revising the
41 content of certain public adjuster contracts; amending
42 s. 627.43141, F.S.; providing requirements for certain
43 notice of change in insurance renewal policy terms
44 amending s. 627.6426, F.S.; revising the disclosure
45 requirements of contracts for short-term health
46 insurance; amending s. 627.70132, F.S.; providing that
47 claims resulting from certain loss assessments are
48 considered to have occurred on a specified date; An
49 act relating to access to financial institution
50 customer accounts; amending s. 280.051, F.S.;
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51 providing additional grounds for qualified public
52 depositories to be suspended and disqualified;
53 amending s. 280.054, F.S.; providing additional acts
54 deemed knowing and willful violations by qualified
55 public depositories which are subject to certain
56 penalties; creating s. 655.49, F.S.; authorizing the
57 Office of Financial Regulation to receive complaints
58 from a customer or member who reasonably believes that
59 a financial institution has acted in bad faith in
60 terminating, suspending, or taking similar action
61 restricting access to such customer's or member's
62 account; providing a time limit for a customer or
63 member to file a complaint; providing
64 nonapplicability; providing duties of the office upon
65 receipt of a customer's or member's complaint;
66 providing duties of a financial institution upon
67 receipt of notification that a complaint has been
68 filed; providing violations and penalties; requiring
69 the office to provide certain reports and information
70 to specified entities under certain circumstances;
71 providing that the financial institutions' customers
72 and members have a cause of action under certain
73 circumstances; authorizing such customers and members
74 to recover damages, together with costs and attorney
75 fees; providing a time limit for initiating causes of
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76 action; requiring the office to make available
77 information necessary for filing complaints on its
78 website; amending s. 791.012, F.S.; updating the
79 source of the code for outdoor display of fireworks;
80 providing an effective date.
81
82 Be It Enacted by the Legislature of the State of Florida:
83 Section 1. Section 1. Section 212.134, Florida Statutes,
84 is amended to read:
85 212.134 Information returns relating to payment-card and
86 third party third-party network transactions.—
87 (1) As used in this section, the term:
88 (a) "Participating payee" has the same meaning as in s.
89 6050W of the Internal Revenue Code.
90 (b) "Return" or "information return" means the Form 1099-K
91 required under s. 6050W of the Internal Revenue Code.
92 (c) "Third party network transaction" has the same meaning
93 as in s. 6050W of the Internal Revenue Code.
94 (d) "Third party settlement organization" has the same
95 meaning as in s. 6050W of the Internal Revenue Code.
96 (2) For each year in which a payment settlement entity, an
97 electronic payment facilitator, or other third party contracted
98 with the payment settlement entity to make payments to settle
99 reportable payment transactions on behalf of the payment
100 settlement entity must file a return pursuant to s. 6050W of the
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101 Internal Revenue Code, for participating payees with an address
102 in this state, the entity, the facilitator, or the third party
103 must submit the information in the return to the department by
104 the 30th day after filing the federal return. The format of the
105 information returns required must be either a copy of such
106 information returns or a copy of such information returns
107 related to participating payees with an address in the state.
108 For purposes of this subsection, the term "payment settlemen t
109 entity" has the same meaning as provided in s. 6050W of the
110 Internal Revenue Code.
111 (3)(2) All reports of returns submitted to the department
112 under this section must be in an electronic format.
113 (4)(3) Any payment settlement entity, facilitator, or
114 third party failing to file the information return required,
115 filing an incomplete information return, or not filing an
116 information return within the time prescribed is subject to a
117 penalty of $1,000 for each failure, if the failure is for not
118 more than 30 days, with an additional $1,000 for each month or
119 fraction of a month during which each failure continues. The
120 total amount of penalty imposed on a reporting entity may not
121 exceed $10,000 annually.
122 (5)(4) The executive director or his or her designee may
123 waive the penalty if he or she determines that the failure to
124 timely file an information return was due to reasonable cause
125 and not due to willful negligence, willful neglect, or fraud.
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126 (6) All third party settlement organizations that conduct
127 transactions involving a participating payee with an address in
128 this state shall create a mechanism for participating payees to
129 identify whether a participating payee's transaction is for
130 goods and services or is personal. The mechanism must clearly
131 indicate the participating payee's requirement to indicate the
132 appropriate transaction type. The participating payee is
133 responsible for indicating the appropriate transaction type. All
134 third party settlement organizations shall maintain records that
135 clearly identify whether a transaction, as designated by the
136 participating payee, is a transaction for goods and services or
137 is personal. The information in the return submitted to the
138 department under subsection (2) for such entities must be
139 limited to transactions for goods and services.
140 Section 2. Subsection (16) is added to section 280.051,
141 Florida Statutes, to read:
142 280.051 Grounds for suspension or disqualification of a
143 qualified public depository.—A qualified public depository may
144 be suspended or disqualified or both if the Chief Financial
145 Officer determines that the qualified public depository has:
146 (16) Pursuant to a determination notice reported by the
147 Office of Financial Regulation under s. 655.49, acted in bad
148 faith when terminating, suspending, or taking similar action
149 restricting a customer's or member's account, or failed to
150 cooperate in an investigation conducted pursuant to s.
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151 655.49(3), including, without limitation, failing to timely file
152 a termination-of-access report with the office.
153 Section 3. Paragraph (b) of subsection (1) of section
154 280.054, Florida Statutes, is amended to read:
155 280.054 Administrative penalty in lieu of suspension or
156 disqualification.—
157 (1) If the Chief Financial Officer finds that one or more
158 grounds exist for the suspension or disqualification of a
159 qualified public depository, the Chief Financial Officer may, in
160 lieu of suspension or disqualification, impose an administrative
161 penalty upon the qualified public depository.
162 (b) With respect to any knowing and willful violation of a
163 lawful order or rule, the Chief Financial Officer may impose a
164 penalty upon the qualified public depository in an amount not
165 exceeding $1,000 for each violation. If restitution is due, the
166 qualified public depository shall make restitution upon the
167 order of the Chief Financial Officer and shall pay interest on
168 such amount at the legal rate. Each day a violation continues
169 constitutes a separate violation. Each of the following Failure
170 to timely file the attestation required under s. 280.025 is
171 deemed a knowing and willful violation by the qualified public
172 depository:
173 1. Failure to timely file the attestation required under
174 s. 280.025.
175 2. Bad faith termination, suspension, or similar action
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176 restricting a customer's or member's account access, as
177 determined by the Office of Financial Regulation pursuant to s.
178 655.49.
179 3. Failure to cooperate in an investigation conducted
180 pursuant to s. 655.49(3), including, without limitation, failure
181 to timely file a termination-of-access report with the office.
182 Section 4. Section 415.10341, Florida Statutes, is created
183 to read:
184 415.10341 Protection of specified adults.—
185 (1) As used in this section, the term:
186 (a) "Financial exploitation" means the wrongful or
187 unauthorized taking, withholding, appropriation, or use of
188 money, assets, or property of a specified adult; or any act or
189 omission by a person, including through the use of a power of
190 attorney, guardianship, or conservatorship of a specified adult,
191 to:
192 1. Obtain control over the specified adult's money,
193 assets, or property through deception, intimidation, or undue
194 influence to deprive him or her of the ownership, use, benefit,
195 or possession of the money, assets, or property; or
196 2. Divert the specified adult's money, assets, or property
197 to deprive him or her of the ownership, use, benefit, or
198 possession of the money, assets, or property.
199 (b) "Financial institution" means a state financial
200 institution or a federal financial institution as those terms
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201 are defined under s. 655.005(1).
202 (c) "Specified adult" means a natural person 70 years of
203 age or older, or a vulnerable adult as defined in s. 415.102 .
204 (d) "Trusted contact" means a natural person 18 years of
205 age or older whom the account owner has expressly identified and
206 recorded in a financial institution's books and records as the
207 person who may be contacted about the account.
208 (2) The Legislature finds that many persons in this state,
209 because of age or disability, are at increased risk of financial
210 exploitation and loss of their assets, funds, investments, and
211 investment accounts. The Legislature further finds that
212 specified adults in this state are at a statistically higher
213 risk of being targeted for financial exploitation, regardless of
214 diminished capacity or other disability, because of their
215 accumulation of substantial assets and wealth compared to
216 younger age groups. In enacting this section, the Legislature
217 recognizes the freedom of specified adults to manage their
218 assets, make investment choices, and spend their funds, and
219 intends that such rights may not be infringed absent a
220 reasonable belief of financial exploitation as provided in this
221 section. The Legislature therefore intends to provide for the
222 prevention of financial exploitation of such persons. The
223 Legislature intends to encourage the constructive involvement of
224 financial institutions that take action based upon the
225 reasonable belief that specified adults who have accounts with
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226 such financial institutions have been or are the subject of
227 financial exploitation. The Legislature intends to balance the
228 rights of specified adults to direct and control their assets,
229 funds, and investments and to exercise their constitutional
230 rights consistent with due process with the need to provide
231 financial institutions the ability to place narrow, time -limited
232 restrictions on these rights in an effort to decrease specified
233 adults' risk of loss due to abuse, neglect, or financial
234 exploitation.
235 (3) If a financial institution reports suspected financial
236 exploitation of a specified adult pursuant to s. 415.1034, it
237 may delay a disbursement or transaction from an account of a
238 specified adult or an account for which a specified adult is a
239 beneficiary or beneficial owner if all of the following apply:
240 (a) The financial institution immediately initiates an
241 internal review of the facts and circumstances that caused an
242 employee of the financial institution to report suspected
243 financial exploitation.
244 (b) Not later than 3 business days after the date on which
245 the delay was first placed, the financial institution:
246 1. Notifies in writing all parties authorized to transact
247 business on the account and any trusted contact on the account,
248 using the contact information provided for the account, with the
249 exception of any party an employee of the financial institution
250 reasonably believes has engaged in, is engaging in, has
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251 attempted to engage in, or will attempt to engage in the
252 suspected financial exploitation of the specified adult. The
253 notice, which may be provided electronically, must provide the
254 reason for the delay.
255 2. Creates and maintains for at least 5 years after the
256 date of the delayed disbursement or transaction a written or
257 electronic record of the delayed disbursement or transaction
258 that includes, at minimum, the following information:
259 a. The date on which the delay was first placed.
260 b. The name and address of the specified adult.
261 c. The business location of the financial institution.
262 d. The name and title of the employee who reported
263 suspected financial exploitation of the specified adult pursuant
264 to s. 415.1034.
265 e. The facts and circumstances that caused the employee to
266 report suspected financial exploitation.
267 (4) The financial institution must make the information
268 required in subparagraph (3)(b)2. available for review upon
269 request by the department, any law enforcement agency conducting
270 an investigation under s. 415.104, or any state or federal
271 agency with regulatory authority over the financial institution.
272 (5) A delay on a disbursement or transaction under
273 subsection (3) expires 5 business days after the date on which
274 the delay was first placed. However, the financial institution
275 may extend the delay for up to 7 additional calendar days if the
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276 financial institution's review of the available facts and
277 circumstances continues to support the reasonable belief that
278 financial exploitation of the specified adult has occurred, is
279 occurring, has been attempted, or will be attempted. The length
280 of the delay may be shortened or extended at any time by a court
281 of competent jurisdiction. This subsection does not prevent a
282 financial institution from terminating a delay after
283 communication with the parties authorized to transact business
284 on the account and any trusted contact on the account.
285 (6) Before placing a delay on a disbursement or
286 transaction pursuant to this section, a financial institution
287 must do all of the following:
288 (a) Develop training policies or programs reasonably
289 designed to educate employees on issues pertaining to financial
290 exploitation of specified adults.
291 (b) Conduct training for all employees at least annually
292 and maintain a written record of all trainings conducted.
293 (c) Develop, maintain, and enforce written procedures
294 regarding the manner in which suspected financial exploitation
295 is reviewed internally, including, if applicable, the manner in
296 which suspected financial exploitation is required to be
297 reported to supervisory personnel.
298 (7) Absent a reasonable belief of financial exploitation
299 as provided in this section, this section does not otherwise
300 alter a financial institution's obligations to all parties
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301 authorized to transact business on an account and any trusted
302 contact named on such account.
303 (8) This section does not create new rights for or impose
304 new obligations on a financial institution under other
305 applicable law.
306 Section 5. Subsection (6) is added to section 489.147,
307 Florida Statutes, to read:
308 489.147 Prohibited property insurance practices; contract
309 requirements.—
310 (6)(a) An insured or claimant may cancel a contract to
311 replace or repair a roof without penalty or obligation until 10
312 days following the execution of the contract or until the
313 official start date, whichever comes first, if the contract was
314 entered into based on events that are the subject of a
315 declaration of a state of emergency by the Governor. For the
316 purposes of this subsection, the official start date is the date
317 on which the work on the roof commences.
318 (b) A contractor executing during a declaration of a state
319 of emergency a contract to replace or repair a roof of a
320 residential property must include in the contract the following
321 language, in bold type of not less than 18 points, immed iately
322 before the space reserved for the signature of the residential
323 property owner:
324
325 "You, the residential property owner, may cancel this contract
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326 without penalty or obligation until 10 days following the
327 execution of the contract or until the official start date,
328 whichever comes first, because this contract was entered into
329 during a declaration of a state of emergency by the Governor. It
330 is the responsibility of your contractor to include an official
331 start date clause in your contact. This clause must s tate the
332 official start date and the work that will be commenced on that
333 date. If there is no official start date clause in the contract,
334 the contract may be voided within 10 days following the
335 execution of the contract."
336
337 (c) The residential property owner must send the notice of
338 cancellation by certified mail, return receipt requested, or
339 other form of mailing that provides proof thereof, at the
340 address specified in the contract.
341 Section 6. Subsection (9) of section 559.9611, Florida
342 Statutes, is amended to read:
343 559.9611 Definitions.—As used in this part, the term:
344 (9) "Depository institution" means a bank, credit union,
345 savings bank, savings and loan association, savings or thrift
346 association, trust company, or industrial loan company doing
347 business under the authority of, or in accordance with, a
348 license, certificate, or charter issued by the United States,
349 this state, or any other state, district, territory, or
350 commonwealth of the United States which is authorized to
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351 transact business in this state Florida state-chartered bank,
352 savings bank, credit union, or trust company, or a federal
353 savings or thrift association, bank, credit union, savings bank,
354 or thrift.
355 Section 7. Paragraph (d) of subsection (8) of section
356 624.424, Florida Statutes, is amended to read:
357 624.424 Annual statement and other information.—
358 (8)
359 (d) The certified public accountant that prepares the
360 audit must be licensed to practice pursuant to chapter 473 and
361 must have completed at least 4 hours of insurance-related
362 continuing education during each 2-year continuing education
363 cycle. An insurer may not use the same accountant or partner of
364 an accounting firm responsible for preparing the report required
365 by this subsection for more than 5 consecutive years. Following
366 this period, the insurer may not use such accountant or partner
367 for a period of 5 years, but may use another accountant or
368 partner of the same firm. An insurer may request the office to
369 waive this prohibition based upon an unusual hardship to the
370 insurer and a determination that the accountant is exercising
371 independent judgment that is not unduly influenced by the
372 insurer considering such factors as the number of partners,
373 expertise of the partners or the number of insurance clients of
374 the accounting firm; the premium volume of the insurer; and the
375 number of jurisdictions in which the insurer transacts business.
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376 Section 8. Subsection (2) of section 626.8796, Florida
377 Statutes, is amended to read:
378 626.8796 Public adjuster contracts; disclosure statement;
379 fraud statement.—
380 (2) A public adjuster contract relating to a property and
381 casualty claim must contain the full name, permanent business
382 address, phone number, e-mail address, and license number of the
383 public adjuster; the full name and license number of the public
384 adjusting firm; and the insured's full name, street address,
385 phone number, and e-mail address, together with a brief
386 description of the loss. The contract must state the percentage
387 of compensation for the public adjuster's services in minimum
388 18-point bold type before the space reserved in the contract for
389 the signature of the insured; the type of claim, including an
390 emergency claim, nonemergency claim, or supplemental claim; the
391 initials of the named insured on each page that does not contain
392 the insured's signature; the signatures of the public adjuster
393 and all named insureds; and the signature date. If all of the
394 named insureds' signatures are not available, the public
395 adjuster must submit an affidavit signed by the available named
396 insureds attesting that they have authority to enter into the
397 contract and settle all claim issues on behalf of the named
398 insureds. An unaltered copy of the executed contract must be
399 remitted to the insured at the time of execution and to the
400 insurer, or the insurer's representative within 7 days after
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401 execution. A public adjusting firm that adjusts claims primarily
402 for commercial entities with operations in more than one state
403 and that does not directly or indirectly perform adjusting
404 services for insurers or individual homeowners is deemed to
405 comply with the requirements of this subsection if, at the time
406 a proof of loss is submitted, the public adjusting firm remits
407 to the insurer an affidavit signed by the public adjuster or
408 public adjuster apprentice that identifies:
409 (a) The full name, permanent business address, phone
410 number, e-mail address, and license number of the public
411 adjuster or public adjuster apprentice.
412 (b) The full name of the public adjusting firm.
413 (c) The insured's full name, street address, phone number,
414 and e-mail address, together with a brief description of the
415 loss.
416 (d) An attestation that the compensation for public
417 adjusting services will not exceed the limitations provided by
418 law.
419 (e) The type of claim, including an emergency claim,
420 nonemergency claim, or supplemental claim.
421 Section 9. Subsection (2) of section 627.43141, Florida
422 Statutes, is amended to read:
423 627.43141 Notice of change in policy terms.—
424 (2) A renewal policy may contain a change in policy terms.
425 If such change occurs, the insurer shall give the named insured
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426 advance written notice summarizing the change, which may be
427 enclosed in along with the written notice of renewal premium
428 required under ss. 627.4133 and 627.728 or sent separately
429 within the timeframe required under the Florida Insurance Code
430 for the provision of a notice of nonrenewal to the named insured
431 for that line of insurance. The insurer must also provide a
432 sample copy of the notice to the named insured's insurance agent
433 before or at the same time that notice is provided to the named
434 insured. Such notice shall be entitled "Notice of Change in
435 Policy Terms." and shall be in bold type of not less than 14
436 points and included as a single page or consecutive pages, as
437 necessary, within the written notice.
438 Section 10. Section 627.6426, Florida Statutes, is amended
439 to read:
440 627.6426 Short-term health insurance.—
441 (1) For purposes of this part, the term "short-term health
442 insurance" means health insurance coverage provided by an issuer
443 with an expiration date specified in the contract that is less
444 than 12 months after the original effective date of the contract
445 and, taking into account renewals or extensions, has a duration
446 not to exceed 36 months in total.
447 (2) All contracts for short-term health insurance entered
448 into by an issuer and an individual seeking coverage shall
449 include the following written disclosures signed by the
450 purchaser at the time of purchase disclosure:
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451 (a) The following statement:
452
453 "This coverage is not required to comply with certa in federal
454 market requirements for health insurance, principally those
455 contained in the Patient Protection and Affordable Care Act. Be
456 sure to check your policy carefully to make sure you are aware
457 of any exclusions or limitations regarding coverage of
458 preexisting conditions or health benefits (such as
459 hospitalization, emergency services, maternity care, preventive
460 care, prescription drugs, and mental health and substance use
461 disorder services). Your policy might also have lifetime and/or
462 annual dollar limits on health benefits. If this coverage
463 expires or you lose eligibility for this coverage, you might
464 have to wait until an open enrollment period to get other health
465 insurance coverage."
466
467 (b) The following information:
468 1. The duration of the contract, including any waiting
469 period.
470 2. Any essential health benefit under 42 U.S.C. s.
471 18022(b) that the contract does not provide.
472 3. The content of coverage.
473 4. Any exclusion of preexisting conditions.
474 (3) The disclosures required in subsection (2) mus t be
475 printed in no less than 12-point type and in a color that is
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476 readable. A copy of the signed disclosures must be maintained by
477 the issuer for a period of 5 years after the date of purchase.
478 (4) Disclosures provided by electronic means must meet the
479 requirements of subsection (2).
480 Section 11. Subsection (4) of section 627.70132, Florida
481 Statutes, is renumbered as subsection (5), and a new subsection
482 (4) is added to that section to read:
483 627.70132 Notice of property insurance claim.—
484 (4) A claim resulting from loss assessment as described in
485 s. 627.714 is considered to have occurred on the date of the
486 notice of loss assessment sent by a unit owner's condominium
487 association.
488
489 Section 12. Section 655.49, Florida Statutes, is created
490 to read:
491 655.49 Bad faith termination or restriction of account
492 access; investigations by the office.—
493 (1) A customer or member of a financial institution who
494 reasonably believes that a financial institution has terminated,
495 suspended, or taken similar action restricting access to the
496 customer's or member's account in bad faith may file, within 30
497 calendar days after such termination, suspension, or similar
498 action restricting account access, a complaint with the office
499 alleging a violation of this section. Such complaint is barred
500 if not timely filed.
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501 (2) This section does not apply if a financial
502 institution's termination, suspension, or similar action
503 restricting a customer's or member's account access was due to
504 one or more of the following:
505 (a) The customer or member initiated the change in access;
506 (b) There is a lack of activity in the account; or
507 (c) The account is presumed unclaimed property pursuant to
508 chapter 717.
509 (3) Upon receipt of a customer's or member's complaint
510 under subsection (1):
511 (a) Within 30 calendar days, the office must notify the
512 financial institution that a complaint has been filed.
513 (b) Within 30 calendar days after receiving the notice
514 from the office, the financial institution must file with the
515 office a termination-of-access report containing such
516 information as the commission requires by rule.
517 (c) Within 90 calendar days after receiving the
518 termination-of-access report from the financial institution, the
519 office must investigate the financial institution's action and
520 determine whether the action was taken in bad faith as
521 substantiated by competent and substantial evidence that was
522 known or should have been known to the financial institution at
523 the time of the termination, suspension, or similar action
524 restricting a customer's or member's account access.
525 (d) Within 30 calendar days after making the determination
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526 required under paragraph (c), the office must report to the
527 Attorney General and the Chief Financial Officer the
528 determination of a bad faith termination, suspension, or similar
529 action restricting a customer's or member's account access. The
530 report to the Attorney General must describe the findings of the
531 investigation, provide a summary of the evidence, and state
532 whether an alleged violation of the financial institutions codes
533 by the financial institution occurred. Upon reporting to the
534 Attorney General pursuant to this paragraph, the office must
535 send a copy of the report to the customer or member by certified
536 mail, return receipt requested.
537 (4) A financial institution's bad faith termination,
538 suspension, or similar action restricting access to a customer's
539 or member's account, as determined by the office pursuant to
540 subsection (3), or a financial institution's failure to
541 cooperate in an investigation conducted pursuant to subsection
542 (3), including, without limitation, failure to timely file a
543 termination-of-access report with the office, constitutes a
544 violation of the financial institutions codes and subjects the
545 financial institution to the applicable sanctions and penalties
546 provided for in the financial institutions codes.
547 (5) The office shall provide any report filed pursuant to
548 this section, or any information contained therein, to any
549 federal, state, or local law enforcement or prosecutorial
550 agency, and any federal or state agency responsible for the
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551 regulation or supervision of financial institutions, if the
552 provision of such report is otherwise required by law.
553 (6) If the office determines under subsection (3) that a
554 financial institution has acted in bad faith, the aggrieved
555 customer or member of the financial institution has a cause of
556 action against the financial institution for damages and may
557 recover damages therefor in any court of competent jurisdiction,
558 together with costs and reasonable attorney fees to be assessed
559 by the court. To recover damages under this subsection, the
560 customer or member must establish that, beyond a reasonable
561 doubt, the financial institution acted in bad faith in
562 terminating, suspending, or taking similar action restricting
563 access to the customer's or member's account. The office's
564 determination that the financial institution has acted in bad
565 faith pursuant to subsection (3) does not, in and of itself,
566 establish beyond a reasonable doubt that the financial
567 institution acted in bad faith in the termination, suspension,
568 or similar action restricting access to the customer's or
569 member's account. A customer's or member's failure to initiate a
570 cause of action under this subsection within 12 months after the
571 office's finding of bad faith pursuant to subsection (3) bars
572 recovery of any filed claims thereafter.
573 (7) By July 1, 2024, the office shall make available on
574 its website the information necessary for a customer or member
575 of a financial institution to file a complaint with the office
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576 under subsection (1).
577 Section 13. Section 791.012, Florida Statutes, is amended
578 to read:
579 791.012 Minimum fireworks safety standards.—The outdoor
580 display of fireworks in this state shall be governed by the
581 National Fire Protection Association (NFPA) 1123, Code for
582 Fireworks Display, 2018 1995 Edition, approved by the American
583 National Standards Institute. Any state, county, or municipal
584 law, rule, or ordinance may provide for more stringent
585 regulations for the outdoor display of fireworks, but in n o
586 event may any such law, rule, or ordinance provide for less
587 stringent regulations for the outdoor display of fireworks. The
588 division shall promulgate rules to carry out the provisions of
589 this section. The Code for Fireworks Display shall not govern
590 the display of any fireworks on private, residential property
591 and shall not govern the display of those items included under
592 s. 791.01(4)(b) and (c) and authorized for sale thereunder.
593 Section 14. This act shall take effect July 1, 2024.
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