26334159, 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: 26334159

Notice of Proposed Rule

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 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.

SUMMARY:

The amended rules will conform to and implement the provisions of Chapter No. 2022-130, Laws of Florida, related to conditions of licensure by revising rule text, revising and re-incorporating certain existing forms, and by incorporating new forms. In addition, the amendments will correct grammatical errors.

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:

9/30/2022 Vol. 48/191

COMMENTS:

From 9/30/2022 To 10/21/2022 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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