The bill CS/HB 1549 amends several sections of Florida Statutes related to financial services, particularly focusing on insurance and money services businesses. It clarifies the definition of "control person" in section 560.103, specifying that a control person is someone who has the power to vote or sell 25 percent or more of a class of voting securities. The bill also deletes the definition of "diligent effort" from section 626.914 and modifies the conditions for exporting insurance coverage in section 626.916, removing the requirement for a diligent effort to seek coverage from authorized insurers. Additionally, it introduces new language regarding the insured's acknowledgment of the availability of other coverage.

The bill further includes provisions that prohibit insurers from issuing nonrenewal notices or requiring consent to rate endorsements for similar coverage at higher premiums without proper notice. It restricts unfair discrimination by insurers based on age, sex, marital status, or academic achievement when charging motor vehicle insurance premiums. The assessment process for state financial institutions is updated to be based on total assets, with specific deadlines for payments. Other amendments address the acquisition of assets and liabilities of financial institutions, changes to definitions of equity, and adjustments to timelines for stock offerings and the opening of banks or trust companies. The act is set to take effect on July 1, 2025, with certain provisions becoming law immediately upon enactment.

Statutes affected:
H 1549 Filed: 655.047, 655.414, 657.002, 658.235, 658.25
H 1549 c1: 655.047, 655.414, 657.002, 657.028, 658.235, 658.25
H 1549 e1: 560.103, 626.914, 626.918, 626.932, 626.9325, 626.9541, 627.715, 655.047, 655.414, 657.002, 657.028, 658.235, 658.25
H 1549 er: 560.103, 626.914, 626.918, 626.932, 626.9325, 626.9541, 627.715, 655.047, 655.414, 657.002, 657.028, 658.235, 658.25