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FL S0092
Bill
AI Summary
- Expands the definition of "yacht" by removing the 300 gross ton weight limit and instead defining it as a vessel over 32 feet that is manufactured/operated primarily for pleasure or leased/chartered to others for pleasure
- Exempts out-of-state brokers or salespersons from Florida licensure when purchasing a yacht, provided the transaction is executed entirely with a Florida-licensed broker or salesperson
- Changes the Division of Florida Condominiums, Timeshares, and Mobile Homes' authority to deny licenses from discretionary ("may") to mandatory ("must") when applicants fail to meet specified criteria such as good moral character, no felony convictions, bonding, and fingerprint requirements
- Replaces the prior requirement of 2 consecutive years as a licensed salesperson for broker licensure with a requirement of having been a licensed salesperson and either completing at least 4 yacht sale transactions or obtaining at least 20 division-approved education credits
- Takes effect October 1, 2024
Legislative Description
Yacht and Ship Brokers' Act
Last Action
Chapter No. 2024-195
5/20/2024
Committee Referrals
Fiscal Policy1/17/2024
Appropriations Subcommittee on Agriculture, Environment, and General Government12/6/2023
Full Bill Text
No bill text available