The bill amends several sections of Florida Statutes related to financial institutions, primarily focusing on the assessment process and operational timelines for state financial institutions. It requires these institutions to pay a semiannual assessment based on total assets, with payments due by March 31 and September 30 of each year. The bill also specifies that the assessment can be submitted via various electronic means approved by the Office of Financial Regulation. Additionally, it introduces penalties for late payments and allows for the proration of assessments, although no portion is refundable.

Other significant amendments include the revision of the definition of "equity" in financial terms, the authorization for credit union officials to be reimbursed for necessary expenses, and adjustments to the timelines for stock offerings and the opening of new banks or trust companies. The bill also allows the Office of Financial Regulation to issue a certificate confirming the completion of acquisition transactions under certain conditions. The effective date for these changes is set for July 1, 2025.

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