FL S1020

Revises the definition of "related interest" in Florida financial institutions code to remove references to family members and household residents, keeping only the definition related to business organizations under a person's control.

Clarifies that financial institutions must settle checks at par value between collecting and paying institutions, but may impose a fee when a check is presented in person by the payee.

Specifies that the term "at par" applies only to settlements between institutions and does not prohibit fees charged directly to customers presenting checks in person.

Provides legislative intent that the amendment clarifies existing law regarding fees for check payment without requiring further statutory changes.

Takes effect July 1, 2013.