reglab/statecodes huggingface dataset:
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-85 - RETAIL INSTALLMENT SALES ACT - GENERAL RULES › Section 69V-85.001 - Examination Fees

Current through Reg. 50, No. 138; July 16, 2024
The Office of Financial Regulation shall charge $250 per
				  eight hour day for each examiner engaged in an examination of any licensee
				  under chapter 520, F.S., Parts I-IV. Such examination fee shall be calculated
				  on an hourly basis and shall be rounded to the nearest hour. The licensee shall
				  also pay the travel expense and per diem subsistence allowance provided for
				  state employees in section
				  112.061, F.S. The licensee shall
				  not be required to pay a per diem fee and expenses of an examination which
				  shall consume more than 30 worker-days in any one year unless such examination
				  or investigation is due to fraudulent practices of the licensee, in which case
				  such licensee shall be required to pay the entire cost regardless of time
				  consumed.
Rulemaking Authority 520.994(5), 520.996(1) FS. Law
					 Implemented 520.996(1) FS.
New 11-25-90, Formerly
					 3D-85.001.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-85 - RETAIL INSTALLMENT SALES ACT - GENERAL RULES › Section 69V-85.002 - Application Forms, Fees, Procedures and Requirements

Current through Reg. 50, No. 138; July 16, 2024
(1) Each person desiring to obtain licensure
				under Chapter 520, F.S., shall apply to the Office of Financial Regulation by
				submitting the following:
(a) A completed
				Application for License under Chapter 520, F.S., Form OFR-520-01, revised
				12-20-07, which is hereby incorporated by reference and available on the
				Office's website at
www.flofr.gov
and by
				mail from the Office of Financial Regulation, 200 East Gaines Street,
				Tallahassee, Florida 32399-0376; and,
(b) The statutory, non-refundable application
				fee required by Sections
				520.03,
				520.32,
				520.52, and
				520.63, F.S., as applicable,
				which shall be the fee for the biennial period beginning January 1 of each
				odd-numbered year or any part thereof.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-85 - RETAIL INSTALLMENT SALES ACT - GENERAL RULES › Section 69V-85.004 - Renewal Fees, Deadlines and Requirements

Current through Reg. 50, No. 138; July 16, 2024
(1) Each active license and each active
				branch office license issued under chapter 520, F.S., shall be renewed for the
				biennial period beginning January 1 of each odd-numbered year upon receipt of
				the statutory renewal fee required by Sections
				520.03,
				520.32,
				520.52 and
				520.63, F.S., as
				applicable.
(2) If the Office of
				Financial Regulation has not received the renewal fee prior to January 1 of the
				renewal year, the license shall revert from active to inactive status. The
				inactive license may be reactivated within six (6) months after becoming
				inactive upon submission of the statutory renewal fee and reactivation fee
				equal to the renewal fee. A license that is not reactivated within six (6)
				months after becoming inactive automatically expires.
(3) A renewal fee submitted electronically on
				the Office's website shall be considered received on the date the Office issues
				a confirmation of payment to the licensee via the Office's website. A
				confirmation is issued by the Office upon successful submission of your renewal
				payment.
(4) If the payment is
				received in a paper format, the received date shall be the date stamped on the
				payment when received by the Department of Financial Services' Cashier's Office
				in Tallahassee, Florida.
(5) All
				fees required to be filed under this rule shall be filed electronically at
www.flofr.gov
.
(6) Any person may petition for waiver of the
				requirement of electronic submission of fees by filing a petition pursuant to
				Rule 28-106.301, F.A.C. Such petition
				shall demonstrate a technological or financial hardship that entitles the
				person to file the application, fees, data or form in a paper format.
(7) If December 31 of the year is on a
				Saturday, Sunday or legal holiday pursuant to Section
				110.117, F.S., then the renewals
				received on the next business day will be considered timely
				received.
Rulemaking Authority 520.03(3), 520.32(3), 520.52(3),
					 520.63(2), 520.994(3) FS. Law Implemented
					 520.02(17),
					 520.03(1),
					 520.03(3),
					 520.31(15),
					 520.31(18),
					 520.32(1),
					 520.32(3),
					 520.52(1),
					 520.52(3),
					 520.61(18),
					 520.61(1),
					 520.63(3)
					 FS.
New 12-20-07.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-85 - RETAIL INSTALLMENT SALES ACT - GENERAL RULES › Section 69V-85.005 - Amendments, Change of Name, Change of Entity and Change in Control or Ownership

Current through Reg. 50, No. 138; July 16, 2024
(1) Each person
				licensed under chapter 520, F.S., which proposes to change its name, form of
				business organization, or any other information contained in any initial
				application form or any amendment thereto, must file an amendment pursuant to
				Section 520.999, F.S., not later than
				thirty-days (30) after the effective date of the change on: Application for
				License under Chapter 520, F.S., Form OFR-520-01 and Application for Branch
				Office License, Form OFR-520-02. The forms are available on the Office's
				website at
www.flofr.gov
and by mail from
				the Office of Financial Regulation, 200 East Gaines Street, Tallahassee,
				Florida 32399-0376. Name changes pursuant to this subsection shall not involve
				any change in controlling interest of the licensed entity.
(2) Each licensee under chapter 520, F.S.,
				that proposes to change any personnel described in Sections
				520.03,
				520.32,
				520.52, and
				520.63, F.S., listed in any
				initial application or any amendment thereto must file an amendment not later
				than thirty-days (30) prior to the effective date of the change or within two
				(2) business days after the date the licensee first received notice of the
				change on Application for License under Chapter 520, F.S., Form OFR-520-01 and
				Application for Branch Office License, Form OFR-520-02. In the event the change
				in personnel in Section
				520.999, F.S., listed in any
				initial application or any amendment thereto results in the addition of anyone
				referenced in this subsection, such persons must comply with Section
				520.999, F.S. unless such person
				has previously complied with Section
				520.999, F.S., with an entity
				currently licensed under this chapter.
(3) Applications for licensure under Chapter
				520, F.S., required as a result of an acquisition of a controlling interest in
				a licensee pursuant to Section
				520.999(2),
				F.S., must be filed in a timely manner as to allow the Office to complete its
				review of the application prior to the effective date of the acquisition, but
				not later than thirty (30) days prior to the date of such acquisition. Such
				applications must be filed in accordance with Sections
				520.03,
				520.32,
				520.52, and
				520.63, F.S.
(4) The office shall waive the requirement
				for a licensee to file a new application pursuant to Section
				520.999(2),
				F.S. when:
(a) A person or group of persons
				proposing to purchase or acquire a controlling interest in a Chapter 520, F.S.,
				licensee has previously filed the information with the Office required in
				Sections 520.03,
				520.32,
				520.52 and
				520.63, F.S., with a licensee to
				the office, provided that such person is currently affiliated with the
				licensee; or
(b) The acquirer is
				currently licensed with the office under Chapter 520, F.S.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-85 - RETAIL INSTALLMENT SALES ACT - GENERAL RULES › Section 69V-85.006 - Electronic Filing of Forms and Fees

Current through Reg. 50, No. 138; July 16, 2024
(1) For
				purposes of this rule, "REAL System" means the Office of Financial Regulation's
				Regulatory Enforcement and Licensing System, which is accessible through the
				Office of Financial Regulation's website at
www.flofr.gov
.
(2) All forms adopted under rules 69V-85.002
				and 69V-85.003, F.A.C., must be
				filed with the Office of Financial Regulation through the REAL
				system.
(3) All fees required to be
				filed with the Office of Financial Regulation under rule
				69V-85.003, F.A.C., must be
				filed through the REAL System.
(4)
				Any person may request an exemption from the electronic filing requirements of
				this rule by submitting Form OFR-520-04, Request for Exemption from Electronic
				Filing Requirements, effective 3/16/2011,
http://www.flrules.org/gateway/reference.asp?No=Ref-00144
,
				to: Office of Financial Regulation, Division of Finance, Bureau of Regulatory
				Review, 200 E. Gaines Street, Tallahassee, Florida 32399-0351. The Office of
				Financial Regulation will provide any person granted an exemption under this
				subsection with instructions on how to file forms and fees in paper format.
				Form OFR-520-04 is hereby incorporated by reference and available on the
				Office's website at
www.flofr.gov
and by
				mail from the Office of Financial Regulation, 200 East Gaines Street,
				Tallahassee, Florida 32399-0376.
Rulemaking Authority 520.994(5) FS. Law Implemented 520.03,
					 520.32, 520.52, 520.63, 520.999 FS.
New 9-20-09, Amended
					 3-16-11.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-85 - RETAIL INSTALLMENT SALES ACT - GENERAL RULES › Section 69V-85.200 - Definition of Moral Turpitude (Repealed)

Current through Reg. 50, No. 138; July 16, 2024
Rulemaking Authority 520.994(5) FS. Law Implemented
					 520.995(3)(b), (c) FS.
New 8-9-95, Formerly 3D-85.200, Repealed
					 12-20-07.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-85 - RETAIL INSTALLMENT SALES ACT - GENERAL RULES › Section 69V-85.300 - Interest Rate Parity

Current through Reg. 50, No. 138; July 16, 2024
(1) For the purpose
				of using the interest rate parity provision in section
				687.12, F.S., extensions of
				credit made by licensees under chapter 520, F.S., are deemed similar to
				consumer finance loans authorized by chapter 516, F.S. Licensees under chapter
				520, F.S., are authorized to charge interest on their extensions of credit to
				any person, firm, or corporation, at the interest rates permitted by chapter
				516, F.S.
(2) Licensees under
				chapter 520, F.S., who utilize the interest rates permitted by chapter 516,
				F.S.:
(a) Shall be governed by the same
				amount, term, possible charges, rebate requirements, and restrictions that
				govern loans under chapter 516, F.S., including sections
				516.02(2)(a)-(c),
				516.02(3)-(4),
				516.031,
				516.035,
				516.15(3),
				516.17,
				516.19,
				516.21,
				516.26,
				516.31, and
				516.36, F.S.
(b) Shall not be subject to the licenses,
				examinations, regulations, documents, procedures, and disclosures required by
				chapter 516, F.S., including sections
				516.02(1),
				516.03,
				516.05,
				516.07,
				516.08,
				516.12, and
				516.15(1)-(2),
				(4), F.S.
(c) Shall indicate on the instrument
				evidencing the extension of credit that the interest rate charged is authorized
				in chapter 516, F.S.
(d) Shall not
				make any particular type of loan or extension of credit which they are not
				authorized to make by the laws under which they are licensed or
				organized.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-160 - FLORIDA CONSUMER FINANCE ACT › Section 69V-160.001 - Licensee Defined

Current through Reg. 50, No. 138; July 16, 2024
For the purposes of the rules in this chapter, "licensee"
				  shall mean and intend any licensee under chapter 516, FS.; and, with respect to
				  any prohibited activities in said chapter, the term shall also include
				  officers, directors, managers and employees of the licensee.
Rulemaking Authority 516.22(1), 516.23(3) FS. Law
					 Implemented 516.02 FS.
New 10-20-73, Formerly 3-2.01, Amended 9-1-75, Formerly
					 3D-160.01, 3D-160.001.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-160 - FLORIDA CONSUMER FINANCE ACT › Section 69V-160.008 - Insurance Companies and Agents

Current through Reg. 50, No. 138; July 16, 2024
Upon request, the licensee shall furnish to the Office of
				  Financial Regulation the name and address of the insurance company writing
				  insurance in connection with loans made by the licensee.
Rulemaking Authority 516.22(1), 516.23(3) FS. Law
					 Implemented 516.20(1), 516.35 FS.
New 10-20-73, Formerly 3-2.08, Amended 9-1-75, Formerly
					 3D-160.08, 3D-160.008.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-160 - FLORIDA CONSUMER FINANCE ACT › Section 69V-160.012 - Deed or Other Conveyance as Collateral

Current through Reg. 50, No. 138; July 16, 2024
A licensee shall not permit a borrower to execute and deliver
				  to licensee a deed or other unconditional conveyance transferring ownership or
				  borrower's real or personal property as security or collateral for a loan. Any
				  collateral or security shall be evidenced by an appropriate mortgage or other
				  security instrument. A deed or other conveyance transferring ownership of real
				  or personal property to the borrower shall not be held or kept as collateral or
				  security by a licensee.
Rulemaking Authority 516.22(1), 516.23(3) FS. Law
					 Implemented 516.16 FS.
New 10-20-73, Formerly 3-2.12, 3D-160.12, Amended 9-1-75,
					 Formerly 3D-160.012.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-160 - FLORIDA CONSUMER FINANCE ACT › Section 69V-160.013 - Disbursement Record

Current through Reg. 50, No. 138; July 16, 2024
For each loan, the licensee shall prepare and keep a
				  disbursement record which shall show deductions and distributions made from the
				  proceeds of the loan.
Rulemaking Authority 516.22(1), 516.23(3) FS. Law
					 Implemented 516.12(1) FS.
New 10-20-73, Formerly 3-2.13, 3D-160.13, Amended 9-1-75,
					 Formerly 3D-160.13, 3D-160.013.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-160 - FLORIDA CONSUMER FINANCE ACT › Section 69V-160.014 - Explaining and Returning Loan Papers

Current through Reg. 50, No. 138; July 16, 2024
(1)
				Explaining loan papers. The licensee shall explain fully to all signers of loan
				papers:
(a) That the loan is made under the
				Florida Consumer Finance Act;
(b)
				That the terms of the loan provide for interest and charges pursuant to the
				Florida Consumer Finance Act; and,
(c) The nature of the security for the
				loan.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-160 - FLORIDA CONSUMER FINANCE ACT › Section 69V-160.015 - Charges

Current through Reg. 50, No. 138; July 16, 2024
Any charge that a licensee may impose or collect pursuant to
				  section 516.031(2),
				  F.S., shall for all purposes be considered interest and shall be subject to the
				  maximum rates provided and authorized by chapter 516, F.S.
Rulemaking Authority 516.22(1), 516.23(3) FS. Law
					 Implemented 516.031(1), (2), (4), (5)
					 FS.
New 10-20-73, Formerly 3-2.15, 3D-160.15, Amended 9-1-75,
					 Formerly 3D-160.15, 3D-160.015.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-160 - FLORIDA CONSUMER FINANCE ACT › Section 69V-160.016 - Computations

Current through Reg. 50, No. 138; July 16, 2024
The rate of interest for each day shall not be greater than
				  1/365th of the maximum annual rate of interest charge permitted under chapter
				  516, F.S.
Rulemaking Authority 516.22(1), 516.23(3) FS. Law
					 Implemented 516.031(2) FS.
New 10-20-73, Formerly 3-2.16, 3D-160.16, Amended 9-1-75,
					 Formerly 3D-160.16, 3D-160.016.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-160 - FLORIDA CONSUMER FINANCE ACT › Section 69V-160.017 - Application of Payments

Current through Reg. 50, No. 138; July 16, 2024
Each payment shall be applied first to the accumulated
				  interest charges and the remainder of the payment applied to the unpaid
				  principal balance; provided that if the amount of the payment is insufficient
				  to pay the accumulated interest charge, the unpaid accrued interest charge may
				  continue to accumulate and the same may be paid from the proceeds of subsequent
				  payments and shall not be added to the principal balance. No payment shall be
				  accepted on the principal balance unless interest is paid to date or is waived
				  by license, except such payment may be credited to the principal where the
				  amount thereof is not sufficient to pay the interest due for one
				  day.
Rulemaking Authority 516.22(1), 516.23(3) FS. Law
					 Implemented 516.031(1) FS.
New 10-20-73, Formerly 3-2.17, 3D-160.17, Amended 9-1-75,
					 Formerly 3D-160.17, 3D-160.017.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-160 - FLORIDA CONSUMER FINANCE ACT › Section 69V-160.018 - Deductions and Distributions

Current through Reg. 50, No. 138; July 16, 2024
(1) The
				following are the only deductions and distributions permitted to be made by the
				licensee from the principal amount of a loan:
(a) Documentary excise taxes.
(b) Fees required to be paid for the filing,
				recording or releasing of any instrument securing the loan including the
				premium payable for any insurance in lieu of perfecting any security interest
				otherwise required by the licensee.
(c) Premiums for non-filing, credit life,
				credit property, disability and involuntary unemployment insurance purchased
				pursuant to and to the extent the same are permitted by chapter 516, F.S., or
				the Florida Insurance Code and any rules and regulations thereunder.
(d) Distributions on behalf of the borrower,
				including payments of obligations due licensee.
(e) Fees required to be paid for title
				insurance, title search fees, and an opinion from an attorney licensed to
				practice law in Florida.
(f) Fees
				paid for appraisal or opinion of value of real property offered as security
				when paid to qualified third parties and supported by an actual expenditure.
				Receipts for the expenditure must show the amount, date, and the name of the
				client for whom the expenditure was made if the deduction is to be
				allowed.
(g) Fees required by the
				licensee for investigating the credit of the borrower, or, the annual fee on a
				line of credit.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-160 - FLORIDA CONSUMER FINANCE ACT › Section 69V-160.019 - Monthly Installments Defined

Current through Reg. 50, No. 138; July 16, 2024
Loans shall be made repayable in equal monthly installments,
				  including both principal and interest, with interest charges calculated on the
				  assumption that all scheduled payments will be made when due. Provided,
				  however, if the repayment schedule is otherwise than regular, the first
				  installment period only may exceed one month by as much as fifteen (15) days,
				  and the additional interest for such excess days may be added to the first
				  installment payment.
Rulemaking Authority 516.22(1), 516.23(3) FS. Law
					 Implemented 516.20(2), 516.36 FS.
New 10-20-73, Formerly 3-2.19, 3D-160.19, Amended 9-1-75,
					 Formerly 3D-160.19, 3D-160.019.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-160 - FLORIDA CONSUMER FINANCE ACT › Section 69V-160.020 - Overcharges

Current through Reg. 50, No. 138; July 16, 2024
Should a licensee charge, contract for, or receive interest
				  or charges in excess of those permitted, and such overcharge is a result of a
				  bona fide error, the loan contract shall remain valid and no penalty shall
				  result, provided that the licensee shall refund or credit the borrower with the
				  amount of such overcharge within twenty (20) days of the licensee's discovery
				  of such error. In the event that the discovery of such overcharge was the
				  result of a complaint by a borrower or of the Office of Financial Regulation,
				  the Office shall investigate the circumstances surrounding the making of the
				  overcharge and shall determine whether it was the result of bona fide
				  error.
Rulemaking Authority 516.22(1) FS. Law Implemented
					 516.031(3) FS.
New 10-20-73, Formerly 3-2.20, 8-11-75, Amended 9-1-75,
					 5-12-82, Formerly 3D-160.20, Formerly
					 3D-160.020.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-160 - FLORIDA CONSUMER FINANCE ACT › Section 69V-160.024 - Names and Addresses of Corporate Officers (Repealed)

Current through Reg. 50, No. 138; July 16, 2024
Rulemaking Authority 20.05(5), 516.22(1) FS. Law
					 Implemented 516.05(2)(a), 516.07(1)(c), 516.12(1)(2)
					 FS.
New 10-20-73, Formerly 3-2.24, 3D-160.24, Amended 9-1-75,
					 Formerly 3D-160.24, 3D-160.024, Repealed
					 12-20-07.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-160 - FLORIDA CONSUMER FINANCE ACT › Section 69V-160.027 - Monthly Billing Statements as Receipts for Payment

Current through Reg. 50, No. 138; July 16, 2024
The duty of a licensee to give to the borrower a plain and
				  complete receipt for all payments made on account of any loan at the time
				  payments are made pursuant to section
				  516.15(2),
				  F.S., is discharged when payments are through mail by check or money order by
				  furnishing the borrower with a monthly billing statement detailing
				  payments.
Rulemaking Authority 20.05(5), 516.22(1) FS. Law
					 Implemented 516.15(2) FS.
New 4-2-81, Formerly 3D-160.27,
					 3D-160.027.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-160 - FLORIDA CONSUMER FINANCE ACT › Section 69V-160.028 - Form of Records Kept by Licensee

Current through Reg. 50, No. 138; July 16, 2024
The records required by section
				  516.12, F.S., shall be kept in
				  accordance with sound and accepted accounting practices, but no particular form
				  is required for keeping the records. In addition to the general records, a
				  licensee shall maintain a log of all insurance claims, repossessions, and
				  litigation. Such forms and systems of accounting shall be used as will enable
				  the Office of Financial Regulation to determine compliance with the Florida
				  Consumer Finance Act. Contemplated herein is the use of electronic data
				  systems.
Rulemaking Authority 516.22(1), 516.23(3) FS. Law
					 Implemented 516.12 FS.
New 4-2-81, Formerly 3D-160.28, Amended 7-10-96, Formerly
					 3D-160.028.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-160 - FLORIDA CONSUMER FINANCE ACT › Section 69V-160.029 - Other Business Conducted by Licensee

Current through Reg. 50, No. 138; July 16, 2024
A licensee may, at the same licensed business location,
				  utilize a separate legal entity, which is not licensed under chapter 516, F.S.,
				  to engage in the business of making loans of money, credit, goods or chooses in
				  action in amounts in excess of $25,000.00; however, all the books and records
				  concerning the conduct of such other loan business shall be kept and maintained
				  at such licensed premises and shall be open to inspection and examination by
				  the Office of Financial Regulation as provided by section
				  516.11, F.S.
Rulemaking Authority 516.22(1), 516.23(3) FS. Law
					 Implemented 516.02, 516.11, 516.12 FS.
New 6-15-87, Amended 7-10-96, Formerly
					 3D-160.029.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-160 - FLORIDA CONSUMER FINANCE ACT › Section 69V-160.030 - Application Procedure for Consumer Finance License

Current through Reg. 50, No. 138; July 16, 2024
(1) Each person desiring to apply for
				licensure as a consumer finance company shall submit the following to the
				Office of Financial Regulation:
(a) A
				completed Application for Consumer Finance Company License, Form OFR-516-01,
				which is incorporated by reference in Rule
				69V-160.039, F.A.C.;
(b) A completed Consumer Finance Company
				Attestation Form, Form OFR-516-05, which is incorporated by reference in Rule
				69V-160.039, F.A.C.;
(c) The statutory, non-refundable
				investigation fee required by Section
				516.03, F.S.;
(d) The statutory, non-refundable biennial
				license fee required by Section
				516.03, F.S.; and,
(e) Evidence that the applicant has liquid
				assets of at least $25,000.00 for the operation of the consumer finance
				company. For the purposes of this rule "Evidence" means documentation from a
				financial institution, as defined in Section
				655.005(1)(i),
				F.S., that the liquid assets are on deposit with the institution. In lieu of
				providing evidence of liquid assets of at least $25,000.00, the applicant may
				provide any one of the documents listed in Section
				516.05(10),
				F.S.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-160 - FLORIDA CONSUMER FINANCE ACT › Section 69V-160.031 - Consumer Finance License Renewal and Reactivation

Current through Reg. 50, No. 138; July 16, 2024
(1) Each active consumer finance license will
				be renewed for the biennial period beginning January 1 of every odd-numbered
				year, upon submission of the statutory renewal fee.
(2) If the Office of Financial Regulation has
				not received the renewal fee prior to January 1 of the renewal year, the
				license shall revert from active to inactive status. The inactive license may
				be reactivated within six (6) months after becoming inactive upon payment of
				the biennial license fee, payment of the reactivation fee which is a fee equal
				to the biennial license fee, and submission of the Consumer Finance Company
				Attestation Form, Form OFR-516-05.
(3) A renewal fee submitted electronically on
				the Office's website shall be considered received on the date the Office issues
				a confirmation of payment to the licensee via the Office's website. A
				confirmation is issued by the Office upon successful submission of a renewal
				payment.
(4) If the payment is
				received in a paper format, the received date shall be the date stamped on the
				payment when received by the Department of Financial Services' Cashier's Office
				in Tallahassee, Florida.
(5) All
				renewal fees and forms required to be filed under this rule shall be filed
				electronically at
www.flofr.gov
.
(6) Any person may request an exemption from
				the electronic filing requirements of this rule by submitting Form OFR-516-02,
				Request for Exemption from Electronic Filing Requirements, to: Office of
				Financial Regulation, Division of Consumer Finance, Bureau of Registration, 200
				E. Gaines Street, Tallahassee, Florida 32399-0376. The Office of Financial
				Regulation will provide any person granted an exemption from the electronic
				filing requirement with instructions on how to file forms and fees in paper
				format. Form OFR-516-02 is incorporated by reference in Rule
				69V-160.036, F.A.C.
(7) If December 31 of the year is on a
				Saturday, Sunday, or legal holiday pursuant to Section
				110.117, F.S., then the renewals
				received on the next business day will be considered timely received.
(8) Form OFR-516-05, is incorporated by
				reference in Rule 69V-160.039,
				F.A.C.
Rulemaking Authority
					 516.03(1),
					 516.037, 516.22(1), 516.23(3)
					 FS. Law Implemented 516.03(1), 516.037,
					 516.05(1), (2)
					 FS.
New 12-13-88, Amended 1-5-00, 12-25-00, Formerly
					 3D-160.031, Amended 12-20-07, 8-3-23.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-160 - FLORIDA CONSUMER FINANCE ACT › Section 69V-160.032 - Amendments, Change of Name, Change of Entity and Change in Control or Ownership

Current through Reg. 50, No. 138; July 16, 2024
(1) Each person
				licensed under Chapter 516, F.S., that proposes to change its name, form of
				business organization, or any other information contained in any initial
				application form or any amendment thereto, must file an amendment pursuant to
				Section 516.05, F.S., not later than
				thirty-days (30) after the effective date of the change on Application for
				Consumer Finance Company License, Form OFR-516-01. Name changes pursuant to
				this subsection shall not involve any change in controlling interest of the
				licensed entity.
(2) Each licensee
				under Chapter 516, F.S., that proposes to change any personnel described in
				Section 516.03, F.S., listed in any
				initial application or any amendment thereto must file an amendment not later
				than thirty-days (30) prior to the effective date of the change or within two
				(2) business days after the date the licensee first received notice of the
				change on Application for Consumer Finance Company License, Form OFR-516-01. In
				the event the change in personnel in Section
				516.03, F.S., listed in any
				initial application or any amendment thereto results in the addition of anyone
				referenced in this subsection, such persons must comply with Section
				516.03, F.S. unless such person
				has previously complied with Section
				516.03, F.S., and is currently
				affiliated with an entity currently licensed under this chapter.
(3) Applications for licensure under Chapter
				516, F.S., required as a result of an acquisition of a controlling interest in
				a licensee pursuant to Section
				516.05(5),
				F.S., must be filed in a timely manner as to allow the Office to complete its
				review of the application prior to the effective date of the acquisition, but
				not later than thirty (30) days prior to the date of such acquisition. Such
				applications must be filed in accordance with Section
				516.03, F.S.
(4) The office shall waive the requirement
				for a licensee to file a new application pursuant to Section
				516.05(5),
				F.S., when:
(a) A person or group of persons
				proposing to purchase or acquire a controlling interest in a Chapter 516, F.S.,
				licensee has previously filed with the Office the information required in
				Section 516.03, F.S., with the licensee
				to the office, provided that such person is currently affiliated with the
				licensee; or
(b) The acquirer is
				currently licensed with the office under Chapter 516, F.S.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-160 - FLORIDA CONSUMER FINANCE ACT › Section 69V-160.034 - Failure to Demonstrate Financial Responsibility Defined

Current through Reg. 50, No. 138; July 16, 2024
As used in section
				  516.07(1)(c),
				  F.S., failure to demonstrate "financial responsibility" means having a history
				  that reflects any of the following: unpaid liens, judgments, repossessions,
				  foreclosures or an otherwise general history of non-payment of legal debts, or
				  having filed a petition for bankruptcy under the federal Bankruptcy
				  Code.
Rulemaking Authority 516.22(1), 516.23(3) FS. Law
					 Implemented 516.07(1) FS.
New 10-1-95, Formerly 3D-160.034, Amended
					 5-8-13.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-160 - FLORIDA CONSUMER FINANCE ACT › Section 69V-160.035 - Failure to Demonstrate Character or General Fitness Defined

Current through Reg. 50, No. 138; July 16, 2024
As used in Section
				  516.07(1)(c),
				  F.S., failure to demonstrate "character" or "general fitness" means being
				  convicted or found guilty, regardless of adjudication, of any crime involving
				  fraud, dishonest dealing or any other act of moral turpitude. Moral turpitude
				  involves duties owed by persons to society as well as acts contrary to justice,
				  honesty, principle or good morals. This includes, but is not limited to, theft,
				  extortion, use of the mail to obtain property under false pretenses, tax
				  evasion, and the sale of (or intent to sell) controlled
				  substances.
Rulemaking Authority 516.22(1), 516.23(3) FS. Law
					 Implemented 516.07(1) FS.
New 10-1-95, Formerly
					 3D-160.035.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-160 - FLORIDA CONSUMER FINANCE ACT › Section 69V-160.036 - Electronic Filing of Forms and Fees

Current through Reg. 50, No. 138; July 16, 2024
(1) For
				purposes of this rule, "REAL System" means the Office of Financial Regulation's
				Regulatory Enforcement and Licensing System, which is accessible through the
				Office of Financial Regulation's website at
www.flofr.gov
.
(2) All forms adopted under Rule
				69V-160.030, F.A.C., must be
				filed with the Office of Financial Regulation through the REAL
				system.
(3) All fees required to be
				filed with the Office of Financial Regulation under Rules
				69V-160.030 and
				69V-160.031, F.A.C., must be
				filed through the REAL System.
(4)
				Any person may request an exemption from the electronic filing requirements of
				this rule by submitting Form OFR-516-02, Request for Exemption from Electronic
				Filing Requirements, effective 3/16/2011,
http://www.flrules.org/gateway/reference.asp?No=Ref-00143
,
				to: Office of Financial Regulation, Division of Consumer Finance, Bureau of
				Registration, 200 E. Gaines Street, Tallahassee, Florida 32399-0376. The Office
				of Financial Regulation will provide any person granted an exemption under this
				subsection with instructions on how to file forms and fees in paper format.
				Form OFR-516-02 is hereby incorporated by reference and available on the
				Office's website at
www.flofr.gov
and by
				mail from the Office of Financial Regulation, 200 East Gaines Street,
				Tallahassee, Florida 32399-0376.
Rulemaking Authority 516.03 FS. Law Implemented 516.03
					 FS.
New 9-20-09, Amended
					 3-16-11.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-160 - FLORIDA CONSUMER FINANCE ACT › Section 69V-160.038 - Liquid Assets, Letter of Credit, and Surety Bond

Current through Reg. 50, No. 138; July 16, 2024
(1) A consumer finance licensee must at all
				times maintain liquid assets in the amount of $25,000, on deposit with the
				institution and held solely for the purpose of licensure. In lieu of liquid
				assets, one of the following alternative collateral devices may be maintained:
(a) A certificate of deposit pledged to the
				Office in the amount of $25,000 for this location. The certificate of deposit
				must be deposited in a financial institution as defined in Section
				655.005(1)(i),
				F.S. An original of Form OFR-516-03, incorporated by reference in Rule
				69V-160.037, F.A.C, must be submitted to the Office.
(b) An irrevocable letter of credit in the
				amount of $25,000 for this location. The irrevocable letter of credit must be
				issued by a financial institution as defined in Section
				655.005(1)(i),
				F.S.
(c) A surety bond in the
				amount of at least $25,000. A consumer finance company with at least one
				currently licensed location must provide to the Office a rider or surety bond
				in an amount of at least $5,000 for each additional license. However, the
				aggregate amount of the surety bond required for a consumer finance company
				with multiple licenses may not exceed $100,000. The surety bond or rider must
				be issued by a bonding company or insurance company authorized to do business
				in this state. An original of Form OFR-516-02, incorporated by reference in
				Rule 69V-160.037, F.A.C., must be submitted to the
				Office.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-160 - FLORIDA CONSUMER FINANCE ACT › Section 69V-160.039 - Adoption of Forms

Current through Reg. 50, No. 138; July 16, 2024
(1) The following
				forms are incorporated by reference and adopted by this rule for the purposes
				of Rules 69V-160.001 -.111, F.A.C.:
(a) Application for Consumer Finance Company
				License, Form OFR-516-01, effective 02-2023, and available at
http://www.flrules.org/Gateway/reference.asp?No=Ref-15146
.
(b) Consumer Finance Company Surety Bond
				Form, Form OFR-516-02, effective 02-2023, and available at
http://www.flrules.org/Gateway/reference.asp?No=Ref-15147
.
(c) Consumer Finance Company Pledge
				Agreement, Form OFR-516-03, effective 02-2023, and available at
http://www.flrules.org/Gateway/reference.asp?No=Ref-15148
.
(d) Consumer Finance Company Attestation
				Form, Form OFR-516-05, effective 08-2023, and available at
http://www.flrules.org/Gateway/reference.asp?No=Ref-15701
.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-160 - FLORIDA CONSUMER FINANCE ACT › Section 69V-160.111 - Disciplinary Guidelines

Current through Reg. 50, No. 138; July 16, 2024
(1) Pursuant to
				Section 516.07, F.S., Disciplinary
				Guidelines for Consumer Finance Companies, Form OFR-516-04, which is hereby
				incorporated by reference, effective 08-2023, available on the Office's website
				at
www.flofr.gov
and available at
http://www.flrules.org/Gateway/reference.asp?No=Ref-15703
,
				are applicable to each ground for disciplinary action that may be imposed by
				the Office against a person for each act that is a violation of Chapter 516,
				F.S. For the purpose of this rule and the disciplinary guidelines, the term
				"citation" means: a notice of noncompliance, reprimand, written agreement, or
				final order docketed by the agency that specifies a violation of Chapter 516,
				F.S., or any rule promulgated under that chapter.
(2) Consistent with the disciplinary
				guidelines contained in Form OFR-516-04, Disciplinary Guidelines for Consumer
				Finance Companies, the Office may issue: a notice of noncompliance; a written
				agreement which includes an adminstrative fine, but not adopted by a final
				order; orders to reprimand a licensee, orders to place a licensee on probation;
				orders restricting or applying conditions upon the issuance or maintenance of a
				license; orders to impose an administrative fine; and/or orders to supend or
				revoke a license.
(a) For first citations
				identified in the disciplinary guidelines as minor violations, the Office shall
				issue a notice of noncompliance except when the Office identifies aggravating
				factors that would warrant a more severe penalty.
(b) For second citations identified in the
				disciplinary guidelines as minor violations, the Office may issue a written
				agreement which is not adopted by a final order imposing an administrative
				fine. Written agreements may be used only when the violations are limited to
				minor violations.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-180 - COLLECTION AGENCIES › Section 69V-180.002 - Adoption of Forms

Current through Reg. 50, No. 138; July 16, 2024
(1) The forms
				referred to in this section are incorporated by reference and adopted by this
				rule. Forms adopted by this rule are available on the Office's website at
www.flofr.gov
, and by mail from the Office
				of Financial Regulation, 200 East Gaines Street, Tallahassee, Florida
				32399-0376.
(a) Commercial Collection Agency
				Forms:
1. Registration of Commercial
				Collection Agency - Form OFR-COM-101, effective 9/9/2015; and incorporated by
				reference in Rule 69V-180.020, F.A.C., and
				available at
http://www.flrules.org/Gateway/reference.asp?No=Ref-05812
:
2. Exhibit A, Form OFR-COM-102, effective
				09/09/2015; and available at
http://www.flrules.org/Gateway/reference.asp?No=Ref-05779
.
3. State of Florida Office of Financial
				Regulation Bond Form - Form OFR-COM-103, effective 05-01-04, and incorporated
				by reference in Rule 69V-180.010, F.A.C., and
				available at
http://www.flrules.org/Gateway/reference.asp?No=Ref-05813
.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-180 - COLLECTION AGENCIES › Section 69V-180.010 - Commercial Collection Surety Bond and Procedures

Current through Reg. 50, No. 138; July 16, 2024
(1) Any person acting as a commercial
				collection agency must obtain and maintain a surety bond in the amount of
				$50,000 issued by a surety company admitted to do business in this state. To
				comply with this rule the commercial collection agency shall utilize
				Form-OFR-COM-103, State of Florida, Office of Financial Regulation bond form,
				effective 5/1/04, which is hereby incorporated by reference and available from
				the Office of Financial Regulation, 200 East Gaines Street, Tallahassee,
				Florida 32399-0376, and also incorporated by reference in rule
				69V-180.002, F.A.C., and
				available at
https://www.flrules.org/Gateway/reference.asp?No=Ref-05780
.
				The terms of the surety bond shall be complied with. The surety bond shall be
				duly executed by the principal and the surety and shall not contain any blank
				spaces.
(2)
(a) In the event that the surety has received
				claims within a six (6) month period, whether or not reduced to judgment, which
				exceed the amount due by the surety on the bond, the surety may pay the amount
				due on the bond to the Office of Financial Regulation and shall not be further
				liable on the bond. At the time payment is made by the surety to the Office of
				Financial Regulation, the surety shall provide the Office of Financial
				Regulation with copies of all claims made on the bond. Only valid claims made
				against the bond within six (6) months after the date of receipt of the first
				claim against the bond shall be paid. Subsequent to the expiration of the
				six-month period, the Office of Financial Regulation shall notice its intent to
				approve or deny the claims on file with the Office of Financial Regulation. The
				entry of a valid final judgment against the commercial collection agency or the
				surety shall be conclusive evidence of a valid claim. In the event that the
				claimant has not reduced the claim to judgment, the claimant may provide
				evidence to the Office of Financial Regulation pursuant to section
				120.57, F.S. Should the amount
				of valid claims exceed the amount on deposit with the Office of Financial
				Regulation, payment shall be based on the ratio that the person's claim bears
				to the total claims filed.
(b)
1. As used herein, "claim" means a written
				demand for payment whether by letter or legal process.
2. As used herein, "valid final judgment"
				means a judgment from a court of competent jurisdiction where no appeal is
				pending and which is not subject to collateral
				attack.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-180 - COLLECTION AGENCIES › Section 69V-180.020 - Commercial Collection Registration Form and Procedures

Current through Reg. 50, No. 138; July 16, 2024
(1) Each person registering as a commercial
				collection agency shall submit the following to the Office of Financial
				Regulation:
(a) A completed Registration of
				Commercial Collection Agency form, Form OFR-COM-101, effective 9/9/2015, which
				is hereby incorporated by reference and available by mail from the Office of
				Financial Regulation, 200 East Gaines Street, Tallahassee, Florida 32399-0376,
				and also incorporated by reference in rule
				69V-180.002, F.A.C., and
				available at
http://www.flrules.org/Gateway/reference.asp?No=Ref-05778
.
(b) If a partnership, sole proprietorship or
				corporation, a completed Exhibit A, as incorporated in subparagraph
				69V-180.002(1)(a)
				2., F.A.C.
(c) A non-refundable
				registration fee of $500 for the annual registration period beginning January 1
				of each calendar year or any part thereof.
(d) Evidence of a current surety bond in the
				amount of $50,000 as required in subsection
				69V-180.010(1),
				F.A.C.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-180 - COLLECTION AGENCIES › Section 69V-180.030 - Consumer Collection Registration Form and Procedures

Current through Reg. 50, No. 138; July 16, 2024
(1) Each person registering as a consumer
				collection agency shall submit the following to the Office of Financial
				Regulation:
(a) A completed Application for
				Registration as Consumer Collection Agency form, Form OFR-559-101, effective
				9/9/2015, which is hereby incorporated by reference and available by mail from
				the Office of Financial Regulation, 200 East Gaines Street, Tallahassee,
				Florida 32399-0376, and also incorporated by reference in rule
				69V-180.002, F.A.C., and
				available at
http://www.flrules.org/Gateway/reference.asp?No=Ref-05814
;
(b) A non-refundable registration fee of $200
				for the annual registration period beginning January 1 of each calendar year or
				any part thereof.
(c) Each control
				person required to be listed on the Application for Registration as Consumer
				Collection Agency, Form OFR-559-101, must submit fingerprints through a
				live-scan vendor approved by the Florida Department of Law Enforcement. A list
				of approved vendors is published on the Florida Department of Law Enforcement's
				website (
http://www.fdle.state.fl.us/Content/getdoc/941d4e90-131a-45ef-8af3-3c9d4efefd8e/Livescan-Service-Providers-and-Device-Vendors.aspx
).
				Such fingerprints will be submitted to the Florida Department of Law
				Enforcement for a state criminal background check and the Federal Bureau of
				Investigation for a Federal criminal background check. The cost of the
				fingerprinting processing shall be borne by the applicant and paid directly to
				the live-scan vendor.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-180 - COLLECTION AGENCIES › Section 69V-180.031 - Consumer Collection Agency Electronic Filing of Forms and Fees

Current through Reg. 50, No. 138; July 16, 2024
(1) For purposes of this rule, "REAL System"
				means the Office of Financial Regulation's Regulatory Enforcement and Licensing
				System, which is accessible through the Office's website at
www.flofr.gov
.
(2) The registration form adopted under
				subparagraph 69V-180.002(1)(b)
				1., F.A.C., must be filed electronically with the Office through the REAL
				system.
(3) All fees required to be
				filed with the Office under Rule
				69V-180.030, F.A.C., must be
				paid electronically with the Office through the REAL
				System.
Rulemaking Authority 559.554, 559.555 FS. Law Implemented
					 559.553, 559.554(2)(a), 559.555 FS.
New 9-10-15.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-180 - COLLECTION AGENCIES › Section 69V-180.032 - Effect of Law Enforcement Records on Applications for Consumer Collection Agency Registration

Current through Reg. 50, No. 138; July 16, 2024
(1) Definitions. For
				purposes of this rule:
(a) "Control person"
				has the same meaning as provided in section
				559.55(4),
				F.S.
(a) "Trigger date" means the
				date on which a control person was found guilty, or pled guilty, or pled nolo
				contendere to a crime.