4411577, 69V-85.002 - Florida Administrative Rules, Law, Code, Register

Home

Florida Department of State and Division of Library and Information Services

Notice: 4411577

Notice of Proposed Rule

Department:

DEPARTMENT OF FINANCIAL SERVICES

Division:

Finance

Chapter:

RETAIL INSTALLMENT SALES ACT - GENERAL RULES

Overview

RULE:

69V-85.002	Application Forms, Fees, Procedures and Requirements.
69V-85.003	Branch Application Forms, Fees, Procedures and Requirements.
69V-85.004	Renewal Fees, Deadlines and Requirements.
69V-85.005	Amendments, Change of Name, Change of Entity and Change in Control or Ownership.
69V-85.200	Definition of Moral Turpitude (Repealed)

PURPOSE:

Chapter 2006-213, Laws of Florida, contains amendments to Chapter 520, Florida Statutes, relating to retail installment sales. The proposed rules implement and reflect the statutory changes, which pertain to the licensing and regulation of persons under The Motor Vehicle Retail Sales Finance Act, The Retail Installment Sales Act, The Installment Sales Finance Act, and The Home Improvement Sales and Finance Act. In conjunction with this notice, several rules under Rule Chapters 69V-50, 69V-60, 69V-70, and 69V-80, F.A.C., which are set forth in separate rule notices, are being proposed for repeal. The Financial Services Commission is consolidating its rules for clarity. Rules that are applicable to all license types under chapter 520, F.S., are being consolidated under the Rule Chapter 69V-85, F.A.C. Rules specific to individual license types will remain under the individual rule chapters.

SUMMARY:

The proposed rules streamline and update the licensing process regarding licensure under Chapter 520, Florida Statutes, relating to Retail Installment Sales. The proposed rules set forth the licensing process and renewal process for persons required to be licensed under chapter 520, F.S.; mandate the electronic filing of renewal fees; specify the process to be followed when a person or group of persons proposes to acquire a controlling interest in a licensee; require certain persons associated with the applicant or licensee to submit biographical information to the Office of Financial Regulation; provide that if an application is withdrawn or denied, all fees are nonrefundable; provide that if the information contained in any application form, or in any amendment thereto, becomes inaccurate for any reason, the applicant/licensee shall file an amendment correcting such information within thirty (30) days; and specify other provisions relating to the licensing process.

RULEMAKING AUTHORITY:

520.03, 520.32, 520.999, 520.52, 520.63, 520.994 FS.

LAW:

520.02, 520.03, 520.31, 520.32, 520.999, 520.52, 520.61, 520.63, 520.994 FS.

PRINT PUBLISH DATE:

8/10/2007 Vol. 33/32

COMMENTS:

From 8/10/2007 To 8/31/2007 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

Under Florida law, E-mail addresses are public records. If you do not want your E-mail address released in response to a public records request, do not send electronic mail to this entity. Instead, contact this office by phone or in writing.