18194404, 69U-110.045 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 18194404

Notice of Proposed Rule

Department:

DEPARTMENT OF FINANCIAL SERVICES

Division:

FSC - Financial Institution Regulation

Chapter:

STATE CREDIT UNIONS

Overview

RULE:

69U-110.045	Reports to OFR
69U-110.053	Credit Union Assessments

PURPOSE:

To clarify and define the terms Call Report and Credit Union Profile report in Rule 69U-110.045, F.A.C., and to update requirements for the timing and electronic filing of such reports as required by the National Credit Union Administration (NCUA) under federal law. To conform Rule 69U-110.053, F.A.C., to the 2015 amendments to Section 655.047, F.S., regarding the filing and deadline requirements for state credit unions to submit semiannual assessment payments by mail and by electronic means.

SUMMARY:

The proposed amendment to Rule 69U-110.045, F.A.C., updates and clarifies the definition and electronic filing of the quarterly report of condition each credit union must file pursuant to 12 C.F.R. § 741.6. The proposed rule amendment further updates the filing deadlines for consistency with NCUA requirements. These rule changes incorporate and supersede the provisions in the OFR’s Order of General Application on this subject issued on June 17, 2016. (In Re: Deadline for Florida State-Chartered Credit Unions to File Quarterly Reports of Financial Condition, OFR Admin. Proceeding Docket No.: 66816-FI). The proposed amendment to Rule 69U-110.053, F.S., will conform the rule to Section 655.047, F.S., as amended in 2015, to authorize electronic payment of the semiannual assessment, while still allowing for payment sent by mail. The proposed amendment will further conform the rule to Section 655.047, F.S., as amended, regarding the deadlines to submit semiannual assessment payments by mail and by electronic means. Semiannual assessment payments sent by mail must be “received” by the OFR, rather than postmarked, by the deadline. Electronic payments must be transmitted to the OFR by the deadline.

RULEMAKING AUTHORITY:

655.012(2), 657.053 FS.

LAW:

655.045, 655.047, 657.053 FS.

PRINT PUBLISH DATE:

10/26/2016 Vol. 42/209

COMMENTS:

From 10/26/2016 To 11/16/2016 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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