7174622, 69V-560.1012 - Florida Administrative Rules, Law, Code, Register

Home

Florida Department of State and Division of Library and Information Services

Notice: 7174622

Notice of Proposed Rule

Department:

DEPARTMENT OF FINANCIAL SERVICES

Division:

Finance

Chapter:

MONEY TRANSMITTERS

Overview

RULE:

69V-560.1012

Adoption of Forms

PURPOSE:

Money services businesses licensed under Part II of Chapter 560, F.S., must maintain a corporate surety bond or an alternative security device in amount set by rule. The amount of the device may not be less than $50,000 or greater than $2 million. Section 560.209(4), F.S., authorizes the use of an approved alternative security device. The proposed rule amends forms OFR-560-01 (Application for Licensure as a Money Services Business) and OFR-560-07 (Security Device Calculation Form) to factor the existence of cargo insurance into the surety bond or alternative security device calculation for licensees whose business is limited to the physical transportation of currency or other valuables via armored cars.

SUMMARY:

The proposed rule amends forms OFR-560-01 and OFR-560-07 to factor the existence of cargo insurance into the surety bond or alternative security device calculation for licensees whose business is limited to the physical transportation of currency or other valuables via armored cars.

RULEMAKING AUTHORITY:

560.105, 560.209 FS.

LAW:

560.209 FS.

PRINT PUBLISH DATE:

6/5/2009 Vol. 35/22

COMMENTS:

From 6/5/2009 To 6/26/2009 (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.