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The Florida Statutes

The 2001 Florida Statutes

Regulation Of Trade, Commerce, Investments, And Solicitations
Chapter 517
Securities Transactions
View Entire Chapter
Section 517.03, Florida Statutes 2001

517.03  Rulemaking; immunity for acts in conformity with rules.--

(1)  The Department of Banking and Finance shall administer and provide for the enforcement of all the provisions of this chapter. The department has authority to adopt rules pursuant to ss. 120.536(1) and 120.54 to implement the provisions of this chapter conferring powers or duties upon it, including, without limitation, adopting rules and forms governing reports. The department shall also have the nonexclusive power to define by rule any term, whether or not used in this chapter, insofar as the definition is not inconsistent with the provisions of this chapter.

(2)  No provision of this chapter imposing liability shall apply to an act done, or omitted to be done, in conformity with a rule of the department in existence at the time of the act or omission, even though such rule may thereafter be amended or repealed or determined by judicial or other authority to be invalid for any reason.

History.--s. 2, ch. 14899, 1931; CGL 1936 Supp. 6002(3); s. 1, ch. 59-423; s. 2, ch. 65-454; ss. 12, 35, ch. 69-106; s. 196, ch. 71-377; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 2, 15, ch. 79-381; ss. 4, 5, ch. 80-254; ss. 2, 3, ch. 81-318; ss. 14, 15, ch. 90-362; s. 4, ch. 91-429; s. 179, ch. 98-200.

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