Legislative Session number- 84

Bill Name: SF1636

2E Relating to commerce; modifying certain provisions regulating financial
institutions; authorizing certain financial corporations to act as trustees or
custodians of health savings accounts under the medicare prescription drug,
improvement and modernization act of 2003; eliminating the requirement for banks
and trust companies to send copies of annual audit reports to the commissioner
of commerce; authorizing financial intermediaries to choose to comply with
certain federal customer in opening customer checking accounts; prescribing
separate inventory procedures for empty safe deposit boxes and providing for
surrender; prohibiting service as a residential mortgage originator by persons
convicted of criminal offenses involving dishonesty or breach of trust or money
laundering, specifying certain de minimis exceptions and providing for prior
consent by the commissioner; clarifying certain mortgage originator and real
estate broker advance fee requirements, defining advance fee and modifying the
definition of real estate broker; providing for automatic renewal of insurance
licenses upon the payment of required fees; providing for voluntary dissolution
of fraternal benefit societies; expanding the limit on liability of financial
institutions providing information on stolen, forged or fraudulent checks to
information used by banking industry antifraud databases; prohibiting deceptive
use of financial institution names in solicitations of customers for financial
services; eliminating certain obsolete references to the credit union advisory
task force (council); repealing a certain rule requiring financial institution
boards of directors to respond to annual examination reports
(mk, ja)