25918320, 69V-559.1012 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 25918320

Notice of Development of Rulemaking

Department:

DEPARTMENT OF FINANCIAL SERVICES

Division:

Finance

Chapter:

FINANCIAL TECHNOLOGY SANDBOX

Overview

RULE:

69V-559.1012	Adoption of Forms
69V-559.300	Net Worth, Bond, and Liquid Assets

PURPOSE:

The purpose and effect is to amend existing rules and forms to conform to and implement Chapter No. 2022-130, Laws of Florida, which was signed into law on May 20, 2022. The legislation permits a Financial Technology Sandbox licensee/applicant offering a financial product or service related to a consumer finance loan to meet certain conditions of licensure by providing documentation of a surety bond, certificate of deposit or letter of credit in lieu of evidence of $25,000 in liquid assets. The amendments will incorporate new forms, revise old forms, and correct grammatical errors.

SUBJECT:

Consumer Finance

RULEMAKING AUTHORITY:

559.952(5), 559.952(8), 559.952(11)(a)

LAW:

559.952(4), 559.952(4)(a), 559.952(5), 559.952(7)(a), 559.952(7)(b),559.952(8), 559.952(9), 559.952(11)(a)

PRINT PUBLISH DATE:

9/9/2022 Vol. 48/176

RELATED STATUTES
AND LAWS:

559.952(5), 559.952(8), 559.952(11)(a), 559.952(4), 559.952(4)(a), 559.952(5), 559.952(7)(a), 559.952(7)(b),559.952(8), 559.952(9), 559.952(11)(a)

OVERSIGHT COMMITTEE:

Joint Administrative Procedures Committee
Florida Administrative Law Central Online Network (F.A.L.C.O.N.)

RELATED COURT CASES:

Division of Administrative Hearings

FEDERAL eRULEMAKING
WEB PORTAL:

Regulations.gov

HOW TO LINK TO
THIS NOTICE:

http://flrules.org/gateway/ruleno.asp?id=69V-559.1012&PDate=9/9/2022&Section=1

REFERENCE MATERIALS:

No reference(s).

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