24294734, 69U-110.021 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 24294734

Notice of Proposed Rule

Department:

DEPARTMENT OF FINANCIAL SERVICES

Division:

FSC - Financial Institution Regulation

Chapter:

STATE CREDIT UNIONS

Overview

RULE:

69U-110.021	Notification to OFR after Elections or Appointments
69U-110.0211	Liability and Bond Insurance
69U-110.026	Supervisory/Audit Committee; Audit
69U-110.031	Powers
69U-110.062	Capitalization Criteria for Conservatorship or Involuntary Liquidation Actions
69U-110.063	Credit Unions Liquidation Certificate and Maintenance of Records

PURPOSE:

To update legal citations and federal standards that are incorporated by reference in the rules.

SUMMARY:

The proposed rule amendments update legal citations and the federal standards that are cited and incorporated by reference in five rules. Specifically, the amendments replace: the 2006 versions of 12 C.F.R. §§ 741.6, 741.202, 701.37, and 12 C.F.R. Part 702 with the 2020 versions; the 2018 versions of 12 C.F.R. §§ 741.3(d) and 741.201(a) with the 2020 versions; and the 2006 version of 12 U.S.C. § 1790d(c) with the 2018 version. For clarity, the amendments also delete references to the National Credit Union Act (“Act”) and National Credit Union Administration (“NCUA”) Rules that duplicate the references to the codified versions of the Act and NCUA Rules. The amendments also update a citation to state law in Rule 69U-110.063, F.A.C., pertaining to the maintenance and retention of books and records following voluntary or involuntary liquidation. The amendment deletes the citation to section 657.055, F.S., which was repealed in 2005, and replaces it with a citation to the current equivalent provision – section 655.91, F.S. Finally, Rule 69U-110.021, F.A.C., is updated to include the agency’s mailing and email addresses for filings.

RULEMAKING AUTHORITY:

655.012(2), 657.026(3)(a), 657.028(6), 657.062(1)(c), 657.063(1) FS.

LAW:

655.045, 655.057, 655.061, 657.021, 657.026, 657.028(6), 657.031, 657.033(9), 657.042, 657.062, 657.063, 657.064 FS.

PRINT PUBLISH DATE:

3/12/2021 Vol. 47/49

COMMENTS:

From 3/12/2021 To 4/2/2021 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

Ref-09663 National Credit Union Administration Rules 741.3(c) and 741.201(a)

Under Florida law, E-mail addresses are public records. If you do not want your E-mail address released in response to a public records request, do not send electronic mail to this entity. Instead, contact this office by phone or in writing.