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CS/HB 855

1
A bill to be entitled
2An act relating to trust funds; creating s. 637.1028,
3F.S.; creating the Title Insurance Regulatory Trust Fund
4within the Department of Financial Services; providing for
5administration of the trust fund and use of moneys
6therein; requiring balances to remain in the trust fund;
7providing for future review and termination or re-creation
8of the trust fund; providing a contingent effective date.
9
10Be It Enacted by the Legislature of the State of Florida:
11
12     Section 1.  Section 637.1028, Florida Statutes, is created
13to read:
14     637.1028  Title Insurance Regulatory Trust Fund.-
15     (1)  The Title Insurance Regulatory Trust Fund is created
16within the Department of Financial Services. All fees and
17charges collected from title insurers and title insurance agents
18and agencies pursuant to s. 637.2031 shall be deposited into the
19Title Insurance Regulatory Trust Fund and shall be used for the
20sole purpose of carrying out the title insurance regulatory
21responsibilities of the department.
22     (2)  Notwithstanding s. 216.301 and pursuant to s. 216.351,
23any balance in the trust fund at the end of any fiscal year
24shall remain in the trust fund and be available for carrying out
25the purposes of the trust fund.
26     (3)  Pursuant to s. 19(f)(2), Art. III of the State
27Constitution, the trust fund shall, unless terminated sooner, be
28terminated on July 1, 2014. Prior to its scheduled termination,
29the trust fund shall be reviewed as provided in s. 215.3206(1)
30and (2).
31     Section 2.  This act shall take effect October 1, 2010, if
32House Bill 853 or similar legislation is adopted in the same
33legislative session or an extension thereof and becomes law.


CODING: Words stricken are deletions; words underlined are additions.

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