Rule 69U-120.004, F.A.C., is to be amended to conform the rule to statutory changes in Section 658.48, F.S.; and to correct a cross-reference of Section 655.012(3) to 655.012(2) F.S., as rulemaking authority. Rule 69U-120.009 is to be amended to ...

DEPARTMENT OF FINANCIAL SERVICES
FSC - Financial Institution Regulation

RULE NO.: RULE TITLE:
69U-120.004: Loans Secured by Secondary Liens on Real Estate
69U-120.009: Securities Purchasable by Banks; Investment Characteristics
69U-120.045: Minimum Internal Audit Procedures
PURPOSE AND EFFECT: Rule 69U-120.004, F.A.C., is to be amended to conform the rule to statutory changes in Section 658.48, F.S.; and to correct a cross-reference of Section 655.012(3) to 655.012(2) F.S., as rulemaking authority. Rule 69U-120.009 is to be amended to conform the rule to statutory changes in Section 658.67, F.S., enacted by Chapter Law 2011-194; and to correct a cross-reference of Section 655.012(3) to 655.012(2), F.S., as rulemaking authority. Rule 69U-120.045, F.A.C., is to be amended to eliminate and reduce certain requirements relating to minimum internal audit requirements; and to correct a cross-reference of Section 655.012(3) to 655.012(2), F.S., as a law implemented and rulemaking authority.
SUBJECT AREA TO BE ADDRESSED: Regulation of Financial Institutions – Banks, Trust Companies, Savings Banks and Associations.
RULEMAKING AUTHORITY: 655.012(2), 655.06 FS.
LAW IMPLEMENTED: 658.48, 658.67, 655.012(2), 655.045 FS.
IF REQUESTED IN WRITING AND NOT DEEMED UNNECESSARY BY THE AGENCY HEAD, A RULE DEVELOPMENT WORKSHOP WILL BE NOTICED IN THE NEXT AVAILABLE FLORIDA ADMINISTRATIVE WEEKLY.
THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE DEVELOPMENT AND A COPY OF THE PRELIMINARY DRAFT, IF AVAILABLE, IS: Jeffrey Jones, Assistant General Counsel, [phone], [e-mail]

THE PRELIMINARY TEXT OF THE PROPOSED RULE DEVELOPMENT IS NOT AVAILABLE.