Committee/Subcommittee Amendment No. 1 — PCS for HB 311 (2024), Insurance & Banking Subcommittee (1/17/2024)

Summary

This committee and subcommittee amendment, Amendment No. 1 to PCS for HB 311 (2024), was offered by Representative Barnaby for the Insurance & Banking Subcommittee. It removes lines 356-369 and inserts language that no person shall directly or indirectly offer or sell securities, other than general obligation bonds, if the issuer or guarantor is in default or has been in default any time after December 31, 1975, as to principal or interest. The offer or sale is permitted only by an offering circular containing a full and fair disclosure as prescribed by rule of the commission. A second paragraph applies the rule to a security that is an industrial or commercial development bond.

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Issuer: Congressional materials
Document type: 2024 3228 Insurance Banking Subcommittee Proposed Committee Bill Amendments Fn Pcs For Hb
Case: 2024 3228 Insurance Banking Subcommittee Proposed Committee Bill Amendments Fn Pcs For Hb 311 A1

Cite this document

“Committee/Subcommittee Amendment No. 1 — PCS for HB 311 (2024), Insurance & Banking Subcommittee (1/17/2024).” Original at www.flhouse.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2024-3228-insurance-banking-subcommittee-proposed-committee-bill-amendments-fn-pcs-for-hb-311-a1/, SHA-256 3e9c0398a0cce4cf30a4af22fafac15211534db36ff57beedc69858ae48c6d00.

Full text

                                           COMMITTEE/SUBCOMMITTEE AMENDMENT
                                             Bill No. PCS for HB 311    (2024)
       Amendment No. 1




            COMMITTEE/SUBCOMMITTEE ACTION
       ADOPTED                       (Y/N)
       ADOPTED AS AMENDED            (Y/N)
       ADOPTED W/O OBJECTION         (Y/N)
       FAILED TO ADOPT               (Y/N)
       WITHDRAWN                     (Y/N)
       OTHER


 1     Committee/Subcommittee hearing bill:       Insurance & Banking
 2     Subcommittee
 3     Representative Barnaby offered the following:
 4
 5          Amendment
 6          Remove lines 356-369 and insert:
 7          (a)     No person shall directly or indirectly offer or sell
 8     securities, other than general obligation bonds, under this
 9     subsection if the issuer or guarantor is in default or has been
10     in default any time after December 31, 1975, as to principal or
11     interest:
12          1.(a)     With respect to an obligation issued by the issuer
13     or successor of the issuer; or
14          2.(b)     With respect to an obligation guaranteed by the
15     guarantor or successor of the guarantor,
16
     PCS for HB 311 a1
      Published On: 1/17/2024 6:11:22 PM
                                    Page 1 of 2
                                           COMMITTEE/SUBCOMMITTEE AMENDMENT
                                           Bill No. PCS for HB 311   (2024)
       Amendment No. 1


17     except by an offering circular containing a full and fair
18     disclosure as prescribed by rule of the commission.
19          (b)   Paragraph (a) applies to a security that is an
20     industrial or commercial development bond if payments are




     PCS for HB 311 a1
      Published On: 1/17/2024 6:11:22 PM
                                  Page 2 of 2

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Our copy: 2024_3228_insurance-banking-subcommittee_proposed-committee-bill-amendments_fn-pcs-for-hb-311-a1.pdf
Original: www.flhouse.gov