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BILL: CS/CS/SB’s 2086 & 2498

Page 24

34 35 The bill amends s. 718.501(1)(d)2., F.S., to authorize the division to issue an emergency cease and desist order to any developer, association, officer, or member of the board of administration, or its assignees or agents, that it finds is violating or is about to violate any provision of ch. 718, F.S., rule or of the division, or any written agreement with the division. The violation must present an immediate danger to the public requiring an immediate final order. The emergency cease and desist order is effective for 90 days. The bill provides that, if the division begins non-emergency cease and desist proceedings, the emergency cease and desist order remains effective until the conclusion of the proceedings under ss. 120.569 and 120.57, F.S. The bill creates s. 718.501(1)(d)4., F.S., to authorize the division to petition the court for the appointment of a receiver or conservator, and to delineate the duties of the receiver or conservator. It also authorizes the circuit court to impound or sequester the property of a party defendant, including books, papers, documents, and related records, and to allow the examination and use of the property by the division and a court-appointed receiver or conservator. The bill creates s. 718.501(1)(d)5., F.S., to authorize the division to apply to the circuit court for an order of restitution, payable to the appointed conservator or receiver or directly to the persons whose funds or assets were obtained in violation of ch. 718, F.S. The bill creates s. 718.501(1)(d)7., F.S., to authorize the division to seek the imposition of a civil penalty through the circuit court for any violation for which the division may issue a notice to show cause under s. 718.501(1)(q), F.S. It limits the civil penalty to at least $500 but no more than $5,000 for each violation. It also provides court costs and reasonable attorney's fees to the prevailing party. If the division prevails, the court may also award the division the reasonable costs of its investigation. The bill creates s. 718.501(1)(n), F.S., to authorize the division to contract with agencies in this state or in other jurisdictions to perform investigative functions. It also authorizes the division to accept grants-in-aid from any source. The bill creates s. 718.501(1)(o), F.S., to require the division to cooperate with similar agencies in other jurisdictions to establish uniform filing procedures and forms, public offering statements, advertising standards, and rules and common administrative practices.39 The bill creates s. 718.501(1)(p), F.S., to deem the division’s notice to a developer to be complete when it is delivered to the developer's address currently on file with the division.40 The bill creates s. 718.501(1)(q), F.S., to authorize the division to issue a notice to show cause and that provides a hearing, upon written request, in accordance with ch. 120, F.S.41 38 37 36

34

The division

has this authority

under s. 498.05

1, F.S.

35

The division

currently has this

authority under

s. 498.007(2), F.S.

36

The division

currently has this

authority under

s. 498.007(3)(a), F.S.

37

The division

currently has this

authority under

s. 498.007(3)(b), F.S.

38

The division

currently has this

authority under

ss. 498.007(5)(b) and (c), F.S.

39

The division

currently has this

authority under

s. 498.007(6), F.S.

40

The division

currently has this

authority under

s. 498.007(8), F.S.

41

The division

currently has this

authority under

s. 498.053, F.S.

The bill amends s. 718.509, F.S, and transfers s. 498.019, F.S., to rename the Division of Florida Land Sales, Condominiums, and Mobile Homes Trust Fund as the Division of Florida Condominiums, Timeshares, and Mobile Homes Trust Fund. Also, the provisions of the existing trust fund from s. 498.019, F.S. are transferred to s. 718.509, F.S.

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