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SB 562--Ownership or transfer of securities.

This bill modifies the procedures for acquiring a controlling interest in a specialty insurer, domestic stock insurer, or controlling company. The bill modernizes Florida law by expanding the scope of permissible custodians to allow licensed securities brokers and dealers to also serve as custodians of securities bought and sold by domestic insurance companies. The bill simplifies the Florida Statutes to include the various book-entry systems in which a Treasury security may be maintained in the definition of a closing corporation. If approved by the governor, these provisions take effect upon becoming law.
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Title Annotation:Business Law
Publication:Florida Bar News
Article Type:Brief article
Geographic Code:1U5FL
Date:Jul 1, 2007
Words:92
Previous Article:HB 7087--Financial services.
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