§ 218.386, Fla. Stat. · Part III. LOCAL FINANCIAL MANAGEMENTAND REPORTING
Bonds; finder’s fees prohibited.
Text — 2026 Florida Statutes
(1)(a) As used in this section, “finder” means a person who is not regularly employed by, or not a partner or officer of, an underwriter, bank, banker, or financial consultant or adviser and who enters into an understanding with either the issuer or the managing underwriter, or both, for any paid or promised compensation or valuable consideration directly or indirectly, expressly or impliedly, to act solely as an intermediary between such issuer and managing underwriter for the purpose of influencing any transaction in the purchase of such bonds.
(b) No underwriter, commercial bank, investment banker, or financial consultant or adviser shall pay any finder any bonus, fee, or gratuity in connection with the sale of general obligation bonds or revenue bonds issued by any unit of local government, unless full disclosure is made to the unit of local government prior to or concurrently with the submission of a purchase proposal for bonds by the underwriter, commercial bank, investment banker, or financial consultant or adviser and subsequently in the official statement or offering circular, if any, detailing the name and address of any finder and the amount of bonus, fee, or gratuity paid to such finder.
(2) The willful violation of this section is a felony of the third degree, punishable as provided in s. 775.082, s. 775.083, or s. 775.084.
(3) No violation of this section shall affect the validity of the bond issue.
Notes and commentary — not statutory text
History
s. 2, ch. 80-98; s. 3, ch. 82-195.
Source of truth
- Edition
- 2026 Florida Statutes
- Official file
- https://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0200-0299/0218/0218.html
- Text hash
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- Composed by
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This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
The Florida Statutes
- § 775.082, Fla. Stat.Penalties; applicability of sentencing structures; mandatory minimum sentences for certain reoffenders previously released from prison.Printed as s. 775.082
- § 775.083, Fla. Stat.Fines.Printed as s. 775.083
- § 775.084, Fla. Stat.Violent career criminals; habitual felony offenders and habitual violent felony offenders; three-time violent felony offenders; definitions; procedure; enhanced penalties or mandatory minimum prison terms.Printed as s. 775.084
Cited by 2 provisions
Provisions in this library whose text cites § 218.386, Fla. Stat.. Each shows the citation as that text prints it.
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