reglab/statecodes huggingface dataset:
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-560 - MONEY TRANSMITTERS › Section 69V-560.606 - Annual Filing of Financial Audit Reports by Part II Licensees

Current through Reg. 50, No. 138; July 16, 2024
(1) Each licensed money transmitter and
				payment instrument seller shall annually submit financial audit reports to the
				Office in accordance with Section
				560.209(2),
				F.S., for the licensee's most recent fiscal year.
(2) Annual financial audit reports must be
				received by the Office within one hundred twenty (120) days after the
				licensee's fiscal year end.
(3) A
				report is "past due" if it is received by the Office one or more days beyond
				the period defined in subsection (2).
(4) For purposes of adding new locations or
				authorized vendors, a Part II licensee may rely upon its annual financial audit
				reports that were received by the Office in a timely manner as required in
				subsections (1) and (2) of this rule.
(5) Financial audit reports must be submitted
				through the Office's REAL System at
www.flofr.gov
. Any person may request an exemption
				from the electronic filing requirements of this rule due to a technological or
				financial hardship by submitting Form OFR-560-08, Request for Exemption from
				Electronic Filing Requirements, to: Office of Financial Regulation, Division of
				Consumer Finance, Bureau of Registration, 200 East Gaines Street, Tallahassee,
				FL 32399-0376. The Office will provide any person granted an exemption from the
				electronic filing requirement with instructions on how to file the financial
				audit report in paper format. Form OFR-560-08 is incorporated by reference in
				Rule 69V-560.1012,
				F.S.
Rulemaking Authority 560.105, 560.118 FS. Law Implemented
					 560.118, 560.209 FS.
New 11-4-01, Formerly 3C-560.606, Amended 7-15-07, 1-13-09,
					 11-28-19.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-560 - MONEY TRANSMITTERS › Section 69V-560.607 - Quarterly Reports to Be Filed by Deferred Presentment Providers (Repealed)

Current through Reg. 50, No. 138; July 16, 2024
Rulemaking Authority 560.105(3), 560.118(2) FS. Law
					 Implemented 560.118(2) FS.
New 11-4-01, Formerly 3C-560.607, Repealed
					 7-15-07.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-560 - MONEY TRANSMITTERS › Section 69V-560.608 - Currency Transaction Report Filings

Current through Reg. 50, No. 138; July 16, 2024
Currency Transaction Reports, required by Section
				  560.123, F.S., must be filed
				  with FinCEN using FinCEN Form 112, which is incorporated by reference in Rule
				  69V-560.1012, F.A.C. Reports
				  filed in this manner shall be deemed to have also been filed with the
				  Office.
Rulemaking Authority 560.105, 560.123 FS. Law Implemented
					 560.123, 560.1235 FS.
New 1-13-09, Amended
					 11-28-19.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-560 - MONEY TRANSMITTERS › Section 69V-560.609 - Suspicious Activity Report Filings

Current through Reg. 50, No. 138; July 16, 2024
(1)
				Pursuant to Section 560.1235(1),
				F.S., licensees and authorized vendors must comply with all state and federal
				laws and rules relating to the detection and prevention of money laundering,
				including, as applicable, 31
				C.F.R. s. 1022.320, relating to reports by
				money services businesses of suspicious transactions. For purposes of Section
				560.1235(1),
				F.S., the federal law requirement to report suspicious transactions applies to
				the following money services businesses: payment instrument sellers that sell
				money orders or traveler's checks, money transmitters, and foreign currency
				exchangers. These entities are required to report suspicious transactions to
				FinCEN using FinCEN Form 111, Suspicious Activity Report by Money Service
				Business, and failure to do so is a violation of Section
				560.1235, F.S.
(2) Under federal law, check cashers may, but
				are not required to, file reports of suspicious transactions; however, pursuant
				to Section 560.309(5),
				F.S., check cashers are required to report suspicious activity to the office or
				an appropriate regulator based on the criteria set forth in
				31 C.F.R.
				1022.320. The Commission designates FinCEN as
				the appropriate regulator to receive such reports, which shall be submitted to
				FinCEN on FinCEN Form 111, Suspicious Activity Report by Money Service
				Business. Suspicious Activity Reports filed with FinCEN shall be deemed to have
				also been filed with the Office. Failure of a check casher to report suspicious
				activity to FinCEN is a violation of Section
				560.309(5),
				F.S.
(3) FinCEN Form 111,
				Suspicious Activity Report by Money Service Business is incorporated by
				reference in Rule 69V-560.1012,
				F.A.C.
Rulemaking Authority 560.105, 560.123, 560.309 FS. Law
					 Implemented 560.123, 560.1235, 560.309
					 FS.
New 1-13-09, Amended 11-28-19,
					 3-7-24.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-560 - MONEY TRANSMITTERS › Section 69V-560.610 - Report of International Transportation of Currency or Monetary Instruments

Current through Reg. 50, No. 138; July 16, 2024
Pursuant to section
				  560.1235, F.S., all money
				  services businesses shall file with FinCEN using a Report of International
				  Transportation of Currency or Monetary Instruments, electronically or in paper
				  form, on FinCEN Form 105, which is incorporated by reference in rule
				  69V-560.1012, F.A.C., not later
				  than 15 calendars days from the date of the transaction.
Rulemaking Authority 560.105 FS. Law Implemented 560.1235
					 FS.
New 1-13-09.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-560 - MONEY TRANSMITTERS › Section 69V-560.701 - General (Repealed)

Current through Reg. 50, No. 138; July 16, 2024
Rulemaking Authority 560.105(3) FS. Law Implemented
					 560.211, 560.310 FS.
New 9-24-97, Formerly 3C-560.701, Repealed
					 1-13-09.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-560 - MONEY TRANSMITTERS › Section 69V-560.702 - Payment Instrument Sellers

Current through Reg. 50, No. 138; July 16, 2024
(1) A
				payment instrument seller shall maintain records of the following information,
				which must be obtained for each issuance or sale of a payment instrument,
				regardless of the amount:
(a) The date of
				purchase;
(b) The serial number(s)
				or confirmation number of the payment instrument(s) purchased; and,
(c) The amount in dollars of each of the
				instruments purchased.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-560 - MONEY TRANSMITTERS › Section 69V-560.703 - Money Transmitters

Current through Reg. 50, No. 138; July 16, 2024
(1) A money
				transmitter shall maintain records of the following information for all inbound
				and outbound transmissions, which must be obtained for each money transmission
				less than $3,000:
(a) The name of the
				sender;
(b) A numbered receipt or
				confirmation number for each transaction;
(c) The address of the location or foreign
				affiliate where the transaction was conducted;
(d) Any instructions or messages relating to
				the transmission;
(e) Transaction
				date;
(f) Transaction amount in
				U.S. Dollars;
(g) Authorized vendor
				name; and,
(h) Authorized
				vendor/foreign affiliate code/identifier as assigned by the
				licensee.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-560 - MONEY TRANSMITTERS › Section 69V-560.7031 - Records to be Maintained when Engaged in Transactions Involving Virtual Currency

Current through Reg. 50, No. 138; July 16, 2024
In addition to the records required in Rule
				  69V-560.703, F.A.C., the
				  following information must be maintained and made available to the Office upon
				  request, for each transmission involving virtual currency:
The type of virtual currency (i.e. - bitcoin, ethereum,
				  ripple, etc.).
The method of payment, if the transaction included the
				  purchase of virtual currency.
The date the transmission was completed or received by the
				  intended recipient.
Any fees charged to the customer including applicable
				  exchange rates at the time the transaction was initiated.
The name of the entity who hosted the sender's wallet, if
				  hosted.
The name of the entity who hosted the recipient's wallet, if
				  hosted.
Rulemaking Authority 560.105,
					 560.1105,
					 560.2085, 560.211 FS. Law
					 Implemented 560.1105, 560.2085,
					 560.211
					 FS.
New 2-16-23.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-560 - MONEY TRANSMITTERS › Section 69V-560.704 - Records to Be Maintained by Check Cashers

Current through Reg. 50, No. 138; July 16, 2024
(1) For purposes of this rule the term:
(a) "Dormant customer" shall include any
				customer who has not transacted business with the licensee within the past one
				hundred eighty (180) days.
(b) The
				phrase "its own commercial account" as referenced in Section
				560.309(3),
				F.S., means a depository account in a federally insured financial institution
				listing the licensee as the exclusive owner of the account. The authorized
				signatories must be a control person as defined in Section
				560.103(10),
				F.S. A licensee may not grant, through power of attorney, written agreement, or
				any other means, another person access to its own commercial account to
				withdraw, withhold, or deposit money.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-560 - MONEY TRANSMITTERS › Section 69V-560.7041 - Check Cashing Database Access

Current through Reg. 50, No. 138; July 16, 2024
(1) The
				check cashing database vendor shall operate and maintain a website with the URL
				and domain name
www.FLCCDB.com
on behalf of
				the Office of Financial Regulation, which shall be the means by which real-time
				access to the check cashing database is made available through an internet
				connection for check cashers to comply with Chapter 560, F.S. The check cashing
				database vendor shall operate and maintain the check cashing database and shall
				give check cashers access to the check cashing database on the following terms
				and conditions:
(a) Only check cashers
				licensed under Chapter 560, F.S., may access the check cashing
				database.
(b) A check casher shall
				designate to the check cashing database vendor at least one administrator to
				create and manage other administrators', supervisors', and users'
				identification and passwords for personnel authorized by the check casher to
				submit transactions to the check cashing database; to maintain transactional
				information on the website and check cashing database; and to ensure the
				accuracy of check cashing database transaction information, including that the
				user identification and password for the employee are associated with the
				appropriate location from which the transaction is conducted. Only one security
				administrator identification and password will be administered by the check
				cashing database vendor. The check casher's administrators will be responsible
				for all other personnel user identification and passwords within the check
				casher's organization.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-560 - MONEY TRANSMITTERS › Section 69V-560.7042 - Check Cashing Database Access Transaction Requirements

Current through Reg. 50, No. 138; July 16, 2024
(1) Each check cashing transaction for which
				the payment instrument cashed is in excess of $1,000 shall be submitted to the
				check cashing database and receive a transaction confirmation number evidencing
				the transaction as recorded in the check cashing database prior to a check
				casher giving currency (or a payment instrument if a Part II
				licensees).
(2) Each check casher
				must also submit to the check cashing database multiple payment instruments
				accepted from any one person on any given day which when aggregated total in
				excess of $1,000. Payment instruments cashed pursuant to this paragraph must be
				entered into the check cashing database within two (2) business days of the
				date on which the aggregate transactions occurred.
(3) The check casher may void or cancel a
				check cashing transaction within one calendar year from the date of the
				transaction.
(4) The check casher
				may amend a check cashing transaction within forty-five (45) calendar days from
				the date of the transaction.
Rulemaking Authority 560.105, 560.310 FS. Law Implemented
					 560.310 FS.
New 10-12-15, Amended
					 11-28-19.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-560 - MONEY TRANSMITTERS › Section 69V-560.7043 - Check Cashing Database Availability

Current through Reg. 50, No. 138; July 16, 2024
(1) The check cashing database shall be
				accessible 24 hours a day every day of the year except for routine scheduled
				system maintenance and upgrades performed by the check cashing database vendor.
				During times of scheduled maintenance or system upgrades, check cashers will be
				given no less than 24 hours notice in the form of electronic mail to the
				designated administrator for each check casher or a broadcast message on the
				check cashing database website.
(2)
				In the event the check cashing database is unavailable, check cashers shall
				adhere to the following procedures:
(a) The
				check casher shall be authorized to conduct transactions during the specific
				period of unavailability;
(b) The
				check casher shall confirm that the check cashing database remains unavailable
				by attempting to access the check cashing database with every person seeking a
				check cashing transaction unless they have been notified via electronic mail by
				the check cashing database vendor of an expected period of time necessary to
				correct whatever problem is causing the check cashing database to remain
				unavailable;
(c) Transactions
				conducted during a period of unavailability must be submitted to the check
				cashing database within 24 hours of notification by the check cashing database
				vendor, that the check cashing database is available; provided, however, that
				if the check cashing database is unavailable for more than 24 hours, then the
				period for submission shall be extended by 24 hours for each additional 24-hour
				period of unavailability.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-560 - MONEY TRANSMITTERS › Section 69V-560.7044 - Limit on Cashing Corporate Checks

Current through Reg. 50, No. 138; July 16, 2024
It is unlawful for a check casher to cash corporate checks
				  for a payee where the aggregate face amount of corporate checks cashed for the
				  payee statewide exceeds 200 percent of the payroll amount listed in the payee's
				  current workers' compensation policy. The 200 percent limit is calculated from
				  the date the payee's policy coverage begins and continues until the date the
				  policy coverage expires or is cancelled. The 200 percent limitation does not
				  apply to payees exempt from or not required to obtain a workers compensation
				  policy.
Rulemaking Authority 560.105 FS. Law Implemented 560.309
					 FS.
New 3-7-24.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-560 - MONEY TRANSMITTERS › Section 69V-560.705 - Foreign Currency Exchangers

Current through Reg. 50, No. 138; July 16, 2024
(1) A
				foreign currency exchanger shall maintain receipts for each transaction,
				regardless of the amount. The receipts must include the date of the
				transaction, the amount and type of currency received and given in
				exchange.
(2) In addition to the
				above records, foreign currency exchangers must maintain records of the amount
				of each bank deposit, including currency deposited.
(3) A foreign currency exchanger shall
				maintain all monthly financial institution bank statements.
(4) A foreign currency exchanger shall
				maintain all records of purchases and sales of foreign currencies from
				financial institutions including dates, amounts, and rates of
				exchange.
Rulemaking Authority 560.105 FS. Law Implemented 560.310
					 FS.
New 9-24-97, Formerly 3C-560.705, Amended
					 1-13-09.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-560 - MONEY TRANSMITTERS › Section 69V-560.706 - Records to be Maintained by Authorized Vendors

Current through Reg. 50, No. 138; July 16, 2024
(1) Every authorized vendor of a money
				transmitter or payment instrument seller shall maintain at the location
				registered with the Office all records required by section
				560.211(1),
				F.S., and rules 69V-560.702 through
				69V-560.703, F.A.C., for at
				least 5 years, unless a longer period of time is required by federal or state
				law or regulations. Any readily accessible and retrievable form is acceptable,
				in lieu of maintaining original documents.
(2) Every authorized vendor of a money
				transmitter or payment instrument seller shall maintain at all times a copy of
				the written agreement between the money transmitter or payment instrument
				seller and the authorized vendor. It will only be necessary for the agreement
				to be maintained at the authorized vendor's primary business address. Such
				agreements shall be made available to Office personnel upon
				request.
Rulemaking Authority 560.105 FS. Law Implemented 560.205,
					 560.211, 560.310 FS.
New 11-4-01, Formerly 3C-560.706, Amended
					 1-13-09.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-560 - MONEY TRANSMITTERS › Section 69V-560.801 - Verification Fee

Current through Reg. 50, No. 138; July 16, 2024
(1) In addition to
				the fees established in section
				560.309(8),
				F.S., a check casher or deferred presentment provider may collect the direct
				costs associated with verifying a payment instrument holder's identity,
				residence, employment, credit history, account status, or other necessary
				information, including the verification of a drawer's status on the Office
				administered database for deferred presentment transactions prior to cashing
				the payment instrument or accepting a personal check in connection with a
				deferred presentment transaction. Such verification fee shall be collected only
				when verification is conducted and shall not exceed $5.00 per transaction. For
				example, a check casher shall not charge a drawer more than one (1)
				verification fee per diem, regardless of whether the check casher is cashing or
				has cashed more than one (1) of the drawer's payment instruments that
				day.
(2) For purposes of section
				560.309(8),
				F.S., and this rule, the "direct costs of verification" shall mean those costs
				that are allocated by the provider to a particular function or are readily
				ascertainable based upon standard commercial practices and include internal
				staff and infrastructure costs incurred by the provider in performing the
				verification function and payments to third party vendors who provide
				verification related services.
Rulemaking Authority 560.105, 560.404(23) FS. Law
					 Implemented 560.309, 560.404(6) FS.
New 9-24-97, Amended 12-17-01, Formerly 3C-560.801, Amended
					 1-13-09.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-560 - MONEY TRANSMITTERS › Section 69V-560.802 - Minimum Disclosure

Current through Reg. 50, No. 138; July 16, 2024
(1) Every check
				casher must continuously post in a conspicuous place a clearly legible schedule
				of fees charged in every location and mobile unit.
(2) The term "conspicuous place" is defined
				herein as a place which is reasonably calculated to impart the information to
				the public.
Rulemaking Authority 560.105, 560.404(23) FS. Law
					 Implemented 560.309 FS.
New 9-24-97, Amended 12-30-98, 12-17-01, Formerly
					 3C-560.802, Amended 10-29-12.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-560 - MONEY TRANSMITTERS › Section 69V-560.804 - Payment Method

Current through Reg. 50, No. 138; July 16, 2024
(1) Payment shall
				be made immediately in currency for every payment instrument received by a
				person engaging in the activities of a check casher.
(2) Each deferred presentment provider shall
				immediately provide the drawer with currency for the full amount of his or her
				personal check to be held by the provider, less only the fees authorized by
				section 560.404, F.S. Only deferred
				presentment providers that are Part II licensees may provide a payment
				instrument, including an Automated Clearing House credit, in lieu of
				currency.
Rulemaking Authority 560.105, 560.404(23) FS. Law
					 Implemented 560.302(1), 560.309, 560.404
					 FS.
New 9-24-97, Amended 12-17-01, Formerly 3C-560.804, Amended
					 1-13-09.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-560 - MONEY TRANSMITTERS › Section 69V-560.805 - Gross Income Test

Current through Reg. 50, No. 138; July 16, 2024
For purposes of determining whether a person is engaged in
				  the business of check cashing for which registration is required the following
				  formula will be applied:
Compensation for Check Cashing/Foreign Currency
				  Exchange
_________________________________________________________________
Gross Income + Compensation for Check
Cashing/Foreign Currency Exchange
"Gross Income" means Gross Revenue (Sales) - Cost of Goods
				  Sold.
Rulemaking Authority 560.105 FS. Law Implemented 560.304(2)
					 FS.
New 9-14-04, Amended
					 1-13-09.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-560 - MONEY TRANSMITTERS › Section 69V-560.901 - Scope (Repealed)

Current through Reg. 50, No. 138; July 16, 2024
Rulemaking Authority 560.105, 560.404(23) FS. Law
					 Implemented 560.404 FS.
New 12-17-01, Formerly 3C-560.901, Repealed
					 7-30-12.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-560 - MONEY TRANSMITTERS › Section 69V-560.902 - Definitions

Current through Reg. 50, No. 138; July 16, 2024
(1) The term "provider" means a deferred
				presentment provider as defined by Section
				560.103(12),
				F.S.
(2) The term "close of
				business" means the time of day that a provider closes its office to the public
				for that calendar day or 7:00 p.m. at the election of the licensee.
(3) The term "registered" means that a
				deferred presentment provider has provided to the database the information
				required to identify a valid deferred presentment transaction.
(4) The term "recorded" means that the
				database has assigned a transaction authorization number to a registered
				transaction, logged it as an open transaction, and communicated the transaction
				authorization number to the deferred presentment provider.
(5) The term "consumer credit counseling"
				means a confidential comprehensive personal money management review, including
				budget counseling resulting in a written assessment of the client's financial
				situation by the consumer credit counselor which includes a suggested client
				action plan based upon a range of options chosen according to the best
				interests of the client. The suggested client action plan may include: the
				client handling their financial concerns on their own; enrollment in a debt
				repayment plan managed by the credit counseling agency; and/or information
				about bankruptcy other than legal advice.
(6) The term "open transaction" or "open"
				means a transaction which has been registered and recorded but not terminated
				or pending.
(7) The term "pending
				transaction" or "pending" means a transaction that is in the process of
				clearing the banking system, in the 60-day grace period pursuant to Section
				560.404(22)(a),
				F.S., or returned to the provider pursuant to Section
				560.406, F.S.
(8) The term "closed transaction" or "close"
				or "terminated" means a transaction terminated as provided in subsection
				69V-560.903(1),
				F.A.C.
(9) The term "immediately"
				means prior to the customer exiting the location in all circumstances except
				for depositing of checks, processing of ACH items for collection, or grace
				period related updates. In such instance, the term shall mean not later than
				11:59 p.m. on the date that the event creating the need for the database update
				occurs.
(10) The term "check" means
				any authorization to transfer or withdraw funds from an account signed by the
				drawer, including any authorization by a drawer to execute an Automated
				Clearing House debit transaction.
Rulemaking Authority 560.105, 560.404 FS. Law Implemented
					 560.402, 560.404 FS.
New 12-17-01, Amended 4-17-02, Formerly 3C-560.902, Amended
					 9-14-04, 1-13-09, 11-28-19.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-560 - MONEY TRANSMITTERS › Section 69V-560.903 - Deferred Presentment Transactions

Current through Reg. 50, No. 138; July 16, 2024
(1) A
				deferred presentment transaction shall be considered terminated at such time as
				all checks that are the basis of the deferred presentment agreement have been:
(a) Redeemed by the drawer by payment to the
				provider of the face amount of the check in cash;
(b) Exchanged by the provider for a cashier's
				check or cash from the drawer's financial institution;
(c) Deposited by the provider and such
				provider has evidence that such check has cleared in accordance with subsection
				(2);
(d) Collected by the provider
				through any civil remedy available under Part IV of Chapter 560, F.S.;
				or
(e) Collected by means of a
				repayment plan between the drawer and the provider or as the result of credit
				counseling where the provider has been paid the amount required under such
				plan.
(f) Deposited by the provider
				or processed for collection through the ACH system and the provider has not
				received notice within fourteen (14) days that the check representing the final
				payment has been returned for insufficient funds, stop payment or closed
				account. The deferred presentment database will automatically close the
				transaction after fourteen (14) days if the provider has updated the
				transaction status to reflect the deposit and no action has been taken by the
				provider to update the deferred presentment database to reflect that the check
				has been returned as discussed above.
1.
				Notwithstanding the automatic termination provision of paragraph
				69V-560.903(1)(a),
				F.A.C., providers shall immediately close all transactions in the deferred
				presentment database when a transaction is terminated as required by subsection
				69V-560.908(6),
				F.A.C.
2. In the event that the
				amount collected from the drawer exceeds the face amount of any check, the
				provider shall notify the drawer that he or she may retrieve such excess at the
				provider's location where the initial agreement between the drawer and provider
				was executed.
3. Each deferred
				presentment provider shall develop and implement written policies and
				procedures relating to the reconciliation of returned items where termination
				of the existing transaction is accomplished pursuant to paragraph
				69V-560.903(1)(f),
				F.A.C., which clearly supports the timely and accurate update of transactional
				information on the deferred presentment database.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-560 - MONEY TRANSMITTERS › Section 69V-560.904 - Deferred Presentment Transaction Agreement Disclosures and Requirements

Current through Reg. 50, No. 138; July 16, 2024
(1) Each deferred presentment transaction
				agreement must contain the following:
(a) For
				deferred presentment transactions not repayable in installments:
1. The drawer's full name, address, date of
				birth, either the last five digits of the social security number or full alien
				registration number;
2. The face
				amount and check number of the drawer's personal check (check number not
				required for ACH authorizations);
3. The drawer's signature and signature
				date;
4. A clear description of the
				drawer's payment obligations under the deferred presentment
				transaction;
5. The amount of
				currency or the amount of any payment instrument provided to the
				drawer;
6. A listing of all fees
				charged to the drawer catagorized by fee type (i.e.,transaction fee and
				vertification fee);
7. The deferred
				presentment provider's name, license number, address, and telephone
				number;
8. The name, title,
				signature, and signature date of the authorized employee of the deferred
				presentment provider who signs the deferred presentment agreement;
9. The date the deferred presentment
				transaction agreement was executed;
10. The number of days of the deferment
				period;
11. The date of the last
				day of the deferment period;
12.
				The time of day on the last day of the deferment period for the drawer to
				either redeem his or her check or request a grace period. Such time shall be
				the close of business for that calendar day;
13. The disclosure requirements required by
				Section 560.404(13),
				F.S.;
14. The disclosure notice
				required by Section 560.404(20),
				F.S.;
15. The transaction number
				assigned by the deferred presentment database; and,
16. The address and telephone number of the
				Office.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-560 - MONEY TRANSMITTERS › Section 69V-560.905 - Deferred Presentment Transaction Fees

Current through Reg. 50, No. 138; July 16, 2024
(1) The transaction fee for a deferred
				presentment transaction not repayable in installments shall be limited to ten
				percent (10%) of the amount of currency or payment instrument provided to the
				drawer. A deferred presentment provider may also charge a verification fee in
				accordance with Rule 69V-560.801, F.A.C. An example
				of the computation of the maximum fees allowed by the code in a transaction
				where the drawer is seeking an advance of $500 would be as follows:
(a) $500 advanced to the drawer;
(b) A $50 transaction fee ($500 X 10%);
				and,
(c) Up to $5 for the direct
				costs associated with verification of the drawer's identity and/or employment.
				In this example, the provider would provide currency or a payment instrument
				(Part II licensees) in the amount of $500 to the drawer, and the drawer would
				provide a personal check in the amount of between $550-$555 depending upon the
				exact amount of the direct costs of verification, if any, assessed by the
				provider with respect to this drawer. Unless a drawer has met the requirements
				for an automatic grace period, the drawer would be required to either redeem
				his or her personal check in cash (face amount of the check) or the provider
				would on the due date or a reasonable time thereafter present such personal
				check to the financial institution for payment.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-560 - MONEY TRANSMITTERS › Section 69V-560.907 - Deferred Presentment Database Access

Current through Reg. 50, No. 138; July 16, 2024
(1) The deferred presentment database vendor
				shall operate and maintain a website with the URL and domain name
www.FLADPP.com
on behalf of the Office of
				Financial Regulation, which shall be the means by which real-time access to the
				deferred presentment database is made available through an internet connection
				for providers to comply with Part IV, Chapter 560, F.S. The deferred
				presentment database vendor shall operate and maintain the deferred presentment
				database and shall give providers access to the deferred presentment database
				on the following terms and conditions:
(a) A
				provider shall designate to the deferred presentment database vendor a security
				administrator to assign employee user identification numbers and passwords to
				employees authorized by the provider to register transactions on the deferred
				presentment database, to maintain provider information on the website and
				deferred presentment database, and to ensure the accuracy of deferred
				presentment database transaction information, including that the user
				identification and password for the employee are associated with the
				appropriate location from which the transaction is conducted. Only the security
				administrator identification and password will be administered by the deferred
				presentment database vendor. The provider's security administrator will be
				responsible for all other employee user identification numbers and passwords
				within the provider's organization;
1. If the
				security administrator needs to be changed or a new security administrator
				needs to be designated, the provider shall request those changes from the
				deferred presentment database vendor;
2. If the security administrator forgets the
				password, the provider shall request the deferred presentment database vendor
				to reset the password;
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-560 - MONEY TRANSMITTERS › Section 69V-560.908 - Deferred Presentment Database Transaction Requirements

Current through Reg. 50, No. 138; July 16, 2024
(1) Each deferred presentment transaction
				shall be registered with the deferred presentment database and receive a
				transaction authorization number evidencing the transaction as being recorded
				in the deferred presentment database prior to a provider giving currency or a
				payment instrument (Part II licensees only) to the drawer except as set forth
				in Rule 69V-560.909, F.A.C. The purpose
				of this deferred presentment database is to:
(a) Prevent the practice of rollover
				transactions;
(b) Prevent
				simultaneous deferred presentment transactions with multiple providers by an
				individual drawer; and,
(c) Prevent
				a new deferred presentment transaction by a drawer within 24 hours of the
				termination of a prior transaction.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-560 - MONEY TRANSMITTERS › Section 69V-560.909 - Deferred Presentment Database Availability

Current through Reg. 50, No. 138; July 16, 2024
(1) The deferred presentment database shall
				be accessible 24 hours a day every day of the year except for routine scheduled
				system maintenance and upgrades performed by the deferred presentment database
				vendor. During times of scheduled maintenance or system upgrades, providers
				will be given no less than 24 hours notice in the form of electronic mail to
				the designated security administrator for each provider or a broadcast message
				on the website.
(2) In the event
				the deferred presentment database is unavailable, providers shall adhere to the
				following procedures to determine eligibility before initiating a new deferred
				presentment transaction (except as provided in subsection (3) below):
(a) The provider shall confirm that the
				deferred presentment database remains unavailable by attempting to access the
				deferred presentment database with every person seeking a new deferred
				presentment transaction unless they have been notified via electronic mail by
				the deferred presentment database vendor of an expected period of time
				necessary to correct whatever problem is causing the deferred presentment
				database to remain unavailable;
(b)
				The provider shall then contact the deferred presentment database vendor's
				toll-free help desk or voice response system to obtain a temporary transaction
				authorization number directly from the deferred presentment database vendor;
				and,
(c) Within 24 hours of
				obtaining the temporary transaction authorization number from the database
				vendor, the provider shall accurately enter the remaining transactional data
				into the deferred presentment database.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-560 - MONEY TRANSMITTERS › Section 69V-560.910 - Deferred Presentment Database Transaction Fees

Current through Reg. 50, No. 138; July 16, 2024
(1) The database transaction fee shall be
				$1.00 per transaction for deferred presentment transactions not repayable in
				installments, and $1.00 for each full or partial 30-day period that a balance
				is scheduled to be outstanding for a deferred presentment installment
				transaction. A provider shall be assessed this fee for each transaction that
				has been both registered and recorded on the deferred presentment database. On
				behalf of the Office of Financial Regulation, the deferred presentment database
				vendor shall make available electronically an invoice to the provider for its
				transaction fees at least five (5) business days before payment is due and the
				provider shall pay each such invoice within five (5) business days of the
				invoice date. The deferred presentment database vendor shall submit such
				invoices for payment to the provider every seven (7) calendar days.
(2) The deferred presentment database vendor
				shall collect all transaction fees on behalf of the Office of Financial
				Regulation. A provider has the option of paying for transactions by ACH payment
				to be initiated by the deferred presentment database vendor, at no cost to the
				provider; by EFT to be initiated by the provider, at the provider's expense; or
				by any other commercially electronic methods of payment. If the provider elects
				to pay by ACH, the provider must sign a form authorizing the deferred
				presentment database vendor to initiate debit entries for transaction fees and
				to initiate, if necessary, credit entries and adjustments for any debit entries
				made in error to the provider's bank account.
Rulemaking Authority 560.105, 560.404(24) FS. Law
					 Implemented 560.404 FS.
New 4-17-02, Formerly 3C-560.910, Amended
					 11-28-19.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-560 - MONEY TRANSMITTERS › Section 69V-560.911 - Deferred Presentment Database Dispute Resolution for Customers

Current through Reg. 50, No. 138; July 16, 2024
(1) Any inquiry into the deferred presentment
				database where the person is deemed ineligible for a new deferred presentment
				transaction will provide a printable message describing the reason the person
				was deemed ineligible together with the toll-free support number of the
				deferred presentment database vendor. The provider shall provide a copy of the
				message to the person any time the deferred presentment database deems the
				person to be ineligible for a new deferred presentment transaction.
(2) Only the person deemed ineligible may
				make a direct inquiry to the deferred presentment database vendor via the
				toll-free customer support number printed on the message.
(3) Any person deemed ineligible by the
				deferred presentment database may seek to dispute the determination by
				following the dispute resolution procedures of the deferred presentment
				database vendor.
Rulemaking Authority 560.105, 560.404 FS. Law Implemented
					 560.404 FS.
New 4-17-02, Formerly 3C-560.911, Amended
					 11-28-19.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-560 - MONEY TRANSMITTERS › Section 69V-560.912 - Deferred Presentment Database Confidentiality

Current through Reg. 50, No. 138; July 16, 2024
(1) Inquiries to the deferred presentment
				deferred presentment database by providers shall only state that a person is
				eligible or ineligible for a new deferred presentment transaction together with
				a description of the reason for such determination. Only information previously
				registered and recorded by the provider on the deferred presentment database
				shall be made available to the provider by the deferred presentment database,
				the deferred presentment database vendor, or the Office of Financial
				Regulation.
(2) Only the person
				seeking the deferred presentment transaction may make a direct inquiry to the
				deferred presentment database vendor to request a more detailed explanation of
				a particular transaction that was the basis for the deferred presentment
				database's ineligibility determination.
(3) Any information regarding any person's
				transactional history is confidential pursuant to section
				560.4041, F.S., and shall not be
				released to the public.
Rulemaking Authority 560.105, 560.404 FS. Law Implemented
					 560.404, 560.4041 FS.
New 4-17-02, Formerly 3C-560.912, Amended
					 11-28-19.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-560 - MONEY TRANSMITTERS › Section 69V-560.913 - Termination of Deferred Presentment Activity and Transaction Maintenance

Current through Reg. 50, No. 138; July 16, 2024
(1) Within fifteen (15) business days after
				ceasing operations or no longer holding a license under Part II or Part III of
				Chapter 560, F.S., a deferred presentment provider must provide notification to
				the Office of such action. The notice must be in writing, signed by the
				deferred presentment provider, and include the following:
(a) The date the deferred presentment
				provider ceased deferred presentment activity;
(b) A listing of all open and pending
				transactions including the drawer's name, transaction number, transaction
				amount, and transaction date;
(c)
				Licensee's name, license number, and mailing address; and,
(d) Contact person's name, email address, and
				phone number.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-7 - CERTIFIED CAPITAL COMPANIES › Section 69W-7.001 - Definitions (Repealed)

Current through Reg. 50, No. 138; July 16, 2024
Rulemaking Authority 288.99(4)(h) FS. Law Implemented
					 288.99(4) FS.
New 9-15-98, Amended 12-12-02, Formerly 3E-7.001, Repealed
					 7-1-12.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-7 - CERTIFIED CAPITAL COMPANIES › Section 69W-7.002 - Certification as a Certified Capital Company (Repealed)

Current through Reg. 50, No. 138; July 16, 2024
Rulemaking Authority 288.99(4)(h) FS. Law Implemented
					 288.99(4) FS.
New 9-15-98, Amended 12-12-02, Formerly 3E-7.002, Repealed
					 7-1-12.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-7 - CERTIFIED CAPITAL COMPANIES › Section 69W-7.003 - Capital Requirements for Certified Capital Companies (Repealed)

Current through Reg. 50, No. 138; July 16, 2024
Rulemaking Authority 288.99(4)(h) FS. Law Implemented
					 288.99(4) FS.
New 9-15-98, Amended 12-12-02, Formerly 3E-7.003, Repealed
					 7-1-12.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-7 - CERTIFIED CAPITAL COMPANIES › Section 69W-7.004 - Annual Review (Repealed)

Current through Reg. 50, No. 138; July 16, 2024
Rulemaking Authority 288.99(4)(h) FS. Law Implemented
					 288.99(10) FS.
New 9-15-98, Formerly 3E-7.004, Repealed
					 7-1-12.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-7 - CERTIFIED CAPITAL COMPANIES › Section 69W-7.005 - Requirement to Update Information (Repealed)

Current through Reg. 50, No. 138; July 16, 2024
Rulemaking Authority 288.99(4)(h) FS. Law Implemented
					 288.99(4) FS.
New 9-15-98, Formerly 3E-7.005, Repealed
					 7-1-12.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-7 - CERTIFIED CAPITAL COMPANIES › Section 69W-7.006 - Renewal of Certification (Repealed)

Current through Reg. 50, No. 138; July 16, 2024
Rulemaking Authority 288.99(4)(h) FS. Law Implemented
					 288.99(4) FS.
New 9-15-98, Amended 12-12-02, Formerly 3E-7.006, Repealed
					 7-1-12.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-7 - CERTIFIED CAPITAL COMPANIES › Section 69W-7.007 - Books and Records Requirements (Repealed)

Current through Reg. 50, No. 138; July 16, 2024
Rulemaking Authority 288.99(4)(h) FS. Law Implemented
					 288.99(3), (4), (5), (8), (9) FS.
New 9-15-98, Amended 12-12-02, Formerly 3E-7.007, Repealed
					 7-1-12.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-7 - CERTIFIED CAPITAL COMPANIES › Section 69W-7.008 - Forms, Instructions and Manuals (Repealed)

Current through Reg. 50, No. 138; July 16, 2024
Rulemaking Authority 288.99(4)(h) FS. Law Implemented
					 288.99(4) FS.
New 9-15-98, Formerly 3E-7.008, Repealed
					 7-1-12.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-100 - SECURITIES › Section 69W-100.005 - Advice Concerning Exemptions (Repealed)

Current through Reg. 50, No. 138; July 16, 2024
Rulemaking Authority 517.03 FS. Law Implemented 517.051,
					 517.061, 120.53(1)(b) FS.
New 12-5-79, Amended 9-20-82, Formerly 3E-100.05,
					 3E-100.005, Repealed 3-21-24.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-100 - SECURITIES › Section 69W-100.006 - Projected Financial Statements or Presentations

Current through Reg. 50, No. 138; July 16, 2024
Financial statements or presentations will be acceptable for
				  use in offerings by issuers when:
(1)
				The Financial Statements or Presentations are provided to investors;
				and,
(2) Adequate disclosure as to
				the assumptions upon which such projected statements are based is provided in
				type at least as large as that used generally in the body of the
				statement.
Rulemaking Authority 517.03 FS. Law Implemented 517.051,
					 517.061, 517.081 FS.
New 12-5-79, Formerly 3E-100.06,
					 3E-100.006.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-100 - SECURITIES › Section 69W-100.007 - Advertising and Sales Literature (Transferred)

Current through Reg. 50, No. 138; July 16, 2024
Rulemaking Authority 517.03 FS. Law Implemented 517.081
					 FS.
New 12-5-79, Amended 9-20-82, Formerly 3E-100.07,
					 3E-100.007, Amended 9-30-10, 9-22-14, Transferred to
					 69W-700.030.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-100 - SECURITIES › Section 69W-100.008 - Offer of Securities Prior to Registration (Transferred)

Current through Reg. 50, No. 138; July 16, 2024
Rulemaking Authority 517.03(1) FS. Law Implemented 517.07
					 FS.
New 12-5-79, Formerly 3E-100.08, Amended 10-1-96, 10-20-97,
					 Formerly 3E-100.008, Transferred to
					 69W-700.031.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-100 - SECURITIES › Section 69W-100.010 - Internet or Other Electronic System Information (Repealed)

Current through Reg. 50, No. 138; July 16, 2024
Rulemaking Authority 517.03(1) FS. Law Implemented
					 517.021(12), (16), 517.07, 517.12 FS.
New 11-21-96, Formerly 3E-100.010, Repealed
					 3-21-24.