CS/HB 1569 -  Exemption from Regulation for Bona Fide Nonprofit Organizations

General Bill by Insurance & Banking Subcommittee and Grant (CO-SPONSORS) Stevenson; Tramont
Exemption from Regulation for Bona Fide Nonprofit Organizations: Authorizes FSC to adopt rules prescribing criteria & processes for determining whether organization is bona fide nonprofit organization for specified purpose; provides exemptions from certain regulation for bona fide nonprofit organizations & certain employees of bona fide nonprofit organization that meet specified criteria; requires Office of Financial Regulation to make specified determination; requires office to make such determination based on terms consistent with loan origination in public or charitable context; requires office to periodically examine books & activities of organization & to revoke its status as bona fide nonprofit organization.
Effective Date: July 1, 2024
Last Event: Approved by Governor on Friday, April 26, 2024 3:38 PM

Referred Committees and Committee Actions

House Referrals

Related Bills

Bill # Subject Relationship
Bill #: CS/SB 514 Subject: Mortgage Brokering Relationship: Similar

Bill Text

Staff Analysis

Chamber Committee
Chamber: House Committee: Final Bill Analysis 3/18/2024 3:11:39 PM
Chamber: House Committee: Commerce Committee 1/30/2024 6:42:58 PM
Chamber: House Committee: Commerce Committee 1/26/2024 4:53:40 PM
Chamber: House Committee: Insurance & Banking Subcommittee 1/25/2024 3:26:29 PM
Chamber: House Committee: Insurance & Banking Subcommittee 1/23/2024 4:08:03 PM

Vote History

Chamber Date Yeas Nays Action Action 2 Vote Detail Barcode
Chamber: House Date: 02/15/2024 05:41 PM   Yeas: 118 Nays: 0 Action: Action 2: Passage Vote Detail: Vote [Seq# 623] Barcode:
Chamber: Senate Date: 03/04/2024 03:32 PM   Yeas: 40 Nays: 0 Action: Action 2: Vote Detail: Vote [Seq# 25] Barcode:

Bill History

Event Time Member Committee Ver.
Event: Approved by Governor Time: 04/26/2024 - 3:38 PM Member: Committee: Version: er
Event: Signed by Officers and presented to Governor Time: 04/16/2024 - 9:18 AM Member: Committee: Version: er
Event: H Ordered enrolled Time: 03/04/2024 - 4:04 PM Member: Committee: Version: c1
Event: H In Messages Time: 03/04/2024 - 4:04 PM Member: Committee: Version: c1
Event: S CS passed; YEAS 40 NAYS 0 -SJ 638 Time: 03/04/2024 - 3:32 PM Member: Committee: Version: c1
Event: S Read 3rd time -SJ 638 Time: 03/04/2024 - 3:32 PM Member: Committee: Version: c1
Event: S Read 2nd time -SJ 637 Time: 03/04/2024 - 3:31 PM Member: Committee: Version: c1
Event: S Substituted for CS/SB 514 -SJ 638 Time: 03/04/2024 - 3:31 PM Member: Committee: Version: c1
Event: S Placed on Calendar, on 2nd reading Time: 03/04/2024 - 3:31 PM Member: Committee: Version: c1
Event: S Withdrawn from Rules -SJ 637 Time: 03/04/2024 - 3:31 PM Member: Committee: Version: c1
Event: S Received Time: 02/20/2024 - 3:54 PM Member: Committee: Version: c1
Event: S Referred to Rules Time: 02/16/2024 - 11:26 AM Member: Committee: Rules Version: c1
Event: S In Messages Time: 02/15/2024 - 7:49 PM Member: Committee: Version: c1
Event: H Message sent to senate Time: 02/15/2024 - 7:40 PM Member: Committee: Version: c1
Event: H CS passed; YEAS 118, NAYS 0 Time: 02/15/2024 - 5:41 PM Member: Committee: Version: c1
Event: H Read 3rd time Time: 02/15/2024 - 5:41 PM Member: Committee: Version: c1
Event: H Added to Third Reading Calendar Time: 02/15/2024 - 5:40 PM Member: Committee: Version: c1
Event: H Read 2nd time Time: 02/15/2024 - 5:40 PM Member: Committee: Version: c1
Event: H Bill added to Special Order Calendar (2/15/2024) Time: 02/12/2024 - 6:04 PM Member: Committee: Version: c1
Event: H Added to Second Reading Calendar Time: 01/30/2024 - 6:43 PM Member: Committee: Version: c1
Event: H Bill released to House Calendar Time: 01/30/2024 - 6:43 PM Member: Committee: Version: c1
Event: H Reported out of Commerce Committee Time: 01/30/2024 - 6:43 PM Member: Committee: Commerce Committee Version: c1
Event: H Favorable by Commerce Committee Time: 01/30/2024 - 2:48 PM Member: Committee: Commerce Committee Version: c1
Event: H 1st Reading Time: 01/26/2024 - 5:00 PM Member: Committee: Version: c1
Event: H Added to Commerce Committee agenda Time: 01/26/2024 - 3:59 PM Member: Committee: Commerce Committee Version: c1
Event: H Now in Commerce Committee Time: 01/26/2024 - 2:12 PM Member: Committee: Commerce Committee Version: c1
Event: H Referred to Commerce Committee Time: 01/26/2024 - 2:12 PM Member: Committee: Commerce Committee Version: c1
Event: H CS Filed Time: 01/25/2024 - 3:42 PM Member: Committee: Version: c1
Event: H Laid on Table under Rule 7.18(a) Time: 01/25/2024 - 3:42 PM Member: Committee: Version: __
Event: H Reported out of Insurance & Banking Subcommittee Time: 01/25/2024 - 3:27 PM Member: Committee: Insurance & Banking Subcommittee Version: __
Event: H Favorable with CS by Insurance & Banking Subcommittee Time: 01/25/2024 - 11:40 AM Member: Committee: Insurance & Banking Subcommittee Version: __
Event: H Added to Insurance & Banking Subcommittee agenda Time: 01/23/2024 - 3:58 PM Member: Committee: Insurance & Banking Subcommittee Version: __
Event: H Now in Insurance & Banking Subcommittee Time: 01/13/2024 - 9:37 AM Member: Committee: Insurance & Banking Subcommittee Version: __
Event: H Referred to Commerce Committee Time: 01/13/2024 - 9:37 AM Member: Committee: Commerce Committee Version: __
Event: H Referred to Insurance & Banking Subcommittee Time: 01/13/2024 - 9:37 AM Member: Committee: Insurance & Banking Subcommittee Version: __
Event: H 1st Reading Time: 01/09/2024 - 11:31 PM Member: Committee: Version: __
Event: H Filed Time: 01/08/2024 - 5:34 PM Member: Grant Committee: Version: __

Statutes Referenced by this Bill

Statute Other Bill Citations
494.0011 CS/SB 514
494.00115 CS/SB 514