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.