61G4-15.0021: Certification and Registration of Business Organizations
PURPOSE AND EFFECT: The Board proposes to review the existing Financially Responsible Bond amount.
SUMMARY: The Board proposed to increase the bond amount from 50,000 to 500,000, consistent with increase in payment cap and make the bond amount payable to Florida Homeowners’ Construction Fund instead of Construction Industries Fund.
SUMMARY OF ESTIMATED REGULATORY COSTS: No Statement of Estimated Regulatory Cost was prepared.
Any person who wishes to provide information regarding a statement of estimated regulatory costs, or provide a proposal for a lower cost regulatory alternative must do so in writing within 21 days of this notice.
SPECIFIC AUTHORITY: 489.108 FS.
LAW IMPLEMENTED: 455.213, 489.105, 489.107, 489.115, 489.119, 489.1195, 489.143, 455.213 FS.
IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE SCHEDULED AND ANNOUNCED IN FAW.
THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: G. W. Harrell, Executive Director, Board Construction Industry Licensing, Northwood Centre, 1940 N. Monroe Street, Tallahassee, Florida 32399-0750
THE FULL TEXT OF THE PROPOSED RULE IS:
61G4-15.0021 Certification and Registration of Business Organizations.
(1) through (2) No change.
(3)(a) No change.
(b) If the business organization has a financially responsible officer, the financially responsible officer, rather than the qualifying contractor, shall complete the Financial Responsibility Acknowledgment Statement contained in the DBPR/CILB/021, Financially Responsible Officer Application, supplied by the Department. In addition, the financially responsible officer shall comply with the requirements of Rules 61G4-15.005 and 61G4-15.006, F.A.C., except that the financially responsible officer shall also demonstrate a personal or business organization net worth of at least $10,000 regardless of the category of contractor's license held by any other qualifier for the business organization, $10,000 cash and a bond in form acceptable to the Board's Executive Director made payable to the Florida Homeowners’ Construction Construction Industries Recovery Fund as reimbursement in the amount of $500,000 50,000. For purposes of Section 489.105(14), F.S., a “person” means a human being who is at least eighteen (18) years of age.
(c) through (7) No change.
Specific Authority 489.108 FS. Law Implemented 455.213, 489.105, 489.107, 489.115, 489.119, 489.1195, 489.143, 455.213 FS. History– New 12-6-83, Formerly 21E-15.021, Amended 3-29-88, 8-8-88, 9-24-92, 12-28-92, Formerly 21E-15.0021, Amended 7-18-94, 7-5-95, 11-12-95, 2-6-96, 7-1-96, 9-3-96, 11-27-96, 11-13-97, 9-15-98, 7-7-05, 1-23-06,_________.