4413808, 69V-160.024 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 4413808

Notice of Proposed Rule

Department:

DEPARTMENT OF FINANCIAL SERVICES

Division:

Finance

Chapter:

FLORIDA CONSUMER FINANCE ACT

Overview

RULE:

69V-160.024	Names and Addresses of Corporate Officers (Repealed)
69V-160.030	Application Procedure for Consumer Finance Company License
69V-160.031	Consumer Finance License Renewal and Reactivation
69V-160.032	Amendments, Change of Name, Change of Entity and Change in Control or Ownership

PURPOSE:

Chapter 2006-213, Laws of Florida, contains amendments to Chapter 516, Florida Statutes, the Florida Consumer Finance Act. Among other things, Chapter 2006-213, Laws of Florida, amends provisions concerning the licensing and regulation of consumer finance companies. The proposed rules implement and reflect the statutory changes regarding consumer finance companies.

SUMMARY:

The proposed rules update the licensing process for consumer finance companies required to be licensed under Chapter 516, Florida Statutes. The proposed rules set forth the licensing process and renewal process; mandate 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or licensee to submit biographical information to the Office of Financial Regulation; provide that if an application is withdrawn or denied, all fees are nonrefundable; provide that if the information contained in any application form, or in any amendment thereto, becomes inaccurate for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 streamline and specify other provisions relating to the licensing process.

RULEMAKING AUTHORITY:

516.22(1), 516.23(3), 516.031, 516.03(1), 516.05, 516.23(3) FS.

LAW:

516.03(1), 516.05, 516.07, 516.01, 516.02(1), 516.05(4), 516.05(5) 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).

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