Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-560 - MONEY TRANSMITTERS › Section 69V-560.102 - Application or Appointment Procedures and Requirements

Current through Reg. 50, No. 138; July 16, 2024
(1) Applications for money service business
				licenses must be made in accordance with the provisions of Sections
				560.1401,
				560.141,
				560.143, and
				560.1115, F.S. Further,
				application for a money services business license involving payment instrument
				sales or money transmission must also comply with Section
				560.205, F.S. The application
				form for applying hereunder is Application for Licensure as a Money Services
				Business, Form OFR-560-01, which is incorporated by reference in Rule
				69V-560.1012, F.A.C. The form
				required under Section
				560.1115(3),
				F.S., is Money Services Business Attestation Form, Form OFR-560-10, which is
				incorporated by reference in Rule
				69V-560.1012, F.A.C.
(2) Except for applicants that are publicly
				traded, each person listed in question 5G of the Application for Licensure as a
				Money Services Business, Form OFR-560-01, 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 at
http://www.fdle.state.fl.us/Criminal-History-Records/Registered-LiveScan-Submitters
.
				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 process shall be borne by the applicant and paid directly to the
				live-scan vendor.
(3) Request for
				Additional Information. Any request for additional information will be made by
				the Office within thirty (30) days after receipt of the application. The
				additional information must be received by the Office within forty-five (45)
				days from the date of the request. The Office will grant a request for an
				additional forty-five (45) days to submit the additional information. The
				Office will not grant a request after the original forty-five (45) day deadline
				has passed. Failure to timely provide all additional information shall result
				in the application being deemed abandoned, which will result in the application
				being removed from further consideration by the Office and closed.
(4) Withdrawal of Application. An application
				may be withdrawn if the applicant submits a request through the REAL system
				(
https://real.flofr.com/
) before
				the application is approved or denied.
(5) Amendments to Pending Applications. If
				the information contained in any application form for licensure as a money
				services business, or in any amendment thereto, becomes inaccurate for any
				reason, the applicant shall promptly file an amendment correcting such
				information on Form OFR-560-01, which is incorporated by reference in Rule
				69V-560.1012, F.A.C. An
				applicant may amend the application as to those factors generally within the
				control or selection of the applicant once, as a matter of course, at any time
				within thirty (30) days from receipt of the application by the Office.
				Otherwise, the application may be amended only with prior written permission
				from the Office. The Office will grant permission to amend the application,
				unless the amendment constitutes a material change to the application. Requests
				to make changes which are material to the application will be deemed by the
				Office to be grounds for denial, and a new application, accompanied by the
				appropriate filing fee, will be required. Material changes include:
(a) Changes in net worth;
(b) The substitution or addition of a control
				person;
(c) Any change relating to
				the bond or collateral security item;
(d) A change to a response to the disclosure
				questions listed in section 6 on Form OFR-560-01; and,
(e) A change to disclosure questions listed
				in section 3 on the biographical summary on Form
				OFR-560-01.