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In addition to revisions to the definition of “related interests” and the impact such changes have on a bank’s loans-to-one-borrower limit, described in our August 8th Banking Bulletin, certain other changes to Florida banking laws went into effect on July 1, 2014.
The following is a brief outline of some Acts of the 2014 Regular Legislative Session, which may impact charter schools. This summary was prepared by Patricia McMurray, Lee Reid and Jaimmié Collins of the Adams and Reese Charter School Team.
Two U.S. Courts of Appeals recently issued conflicting rulings on a major provision of the Affordable Care Act (the “ACA”), and the U.S. Supreme Court is being asked to weigh in. The concern is over the Internal Revenue Service’s decision to extend insurance premium subsidies to all Insurance Exchanges regardless of whether they are State-based or Federally-facilitated.
On August 13, 2014, the United States Department of Labor, Occupational Health and Safety Administration (OSHA), issued a Supplemental Notice of Rulemaking which was related to its November 7, 2013, Notice of Proposed Rulemaking to amend OSHA injury and illness reporting requirements to add three new electronic reporting obligations.
On July 1, 2014, a number of changes to Florida banking laws went into effect. Despite the Florida legislature’s stated desire to decrease regulation on businesses, a new law serves to greatly increase regulation on community banks with respect to loans-to-one-borrower limits.
On June 23, 2014, a federal bankruptcy court in Nebraska issued an order in the chapter 11 bankruptcy cases of Biovance Technologies, Inc. and William Edward Julien that granted American National Bank’s (“ANB”) motion for summary judgment and overruling Biovance’s and Julien’s objections to ANB’s proofs of claim. The court’s opinion reminds creditors that payments from third parties on debts owed by a debtor do not have to be immediately credited against the amount of the debt.
The Florida Information Protection Act of 2014 (the “Act”) became effective July 1, 2014 and replaced Florida’s previous data breach notification law. Under the Act, all Florida businesses must take “reasonable measures to protect and secure data in electronic form containing personal information.”
In a 7-2 decision, the US Supreme Court in CTS Corporation v. Peter Waldurger et al, ___ S. Ct. ____, 2014 WL 2560466 (June 9, 2014) upheld a North Carolina law known as a statute of repose which had barred tort claims by property owners for damages against a manufacturer which had contaminated property which it subsequently sold more than twenty years prior to the lawsuit.
Section 11 (C) of the Occupational Safety and Health Act (OSH Act) states "no person shall discharge or in any manner discriminate against any employee because such employee has filed any complaint or instituted or caused to be instituted any proceeding under or related to this Act or has testified or is about to testify in any such proceeding or because of the exercise by such employee on behalf of himself or others of any right afforded by this Act."
Sadly, the recent mass shooting by a disgruntled employee at a FedEx sorting facility in Georgia reminded the U.S. of the disturbing fact that the number of public shootings has been on the rise over the past several years. As with the FedEx tragedy, some of those public shootings have involved disgruntled employees violently attacking co-workers in the workplace.