19B-16.004: Payment and Minimum Contributions
PURPOSE AND EFFECT: Provides that a contingent benefactor may not direct the investments of any contributions to the Investment Plan. The same prohibition applies to benefactors and designated beneficiaries. Conforms this rule to the changes to Rule 19B-16.008, F.A.C.
SUBJECT AREA TO BE ADDRESSED: The investments in the Florida College Investment Plan.
SPECIFIC AUTHORITY: 1009.971(1), (4), (6) FS.
LAW IMPLEMENTED: 1009.981 FS.
IF REQUESTED IN WRITING AND NOT DEEMED UNNECESSARY BY THE AGENCY HEAD, A RULE DEVELOPMENT WORKSHOP WILL BE HELD AT THE DATE, TIME AND PLACE SHOWN BELOW:
TIME AND DATE: September 29, 2008, 2:00 p.m.
PLACE: Suite 210, Hermitage Building, 1801 Hermitage Boulevard, Tallahassee, Florida
THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE DEVELOPMENT AND A COPY OF THE PRELIMINARY DRAFT, IF AVAILABLE, IS: Thomas J. Wallace, Executive Director, 1801 Hermitage Boulevard, Suite 210, Tallahassee, Florida 32308, telephone (850)488-8514
THE PRELIMINARY TEXT OF THE PROPOSED RULE DEVELOPMENT IS:
19B-16.004 Payment and Minimum Contributions.
(1) No change.
(2) A Neither a benefactor, a contingent benfactor and nor a designated beneficiary shall not direct the investment of any contributions or amounts held in the Program.
(3) through (5) No change.
Specific Authority 1009.971(1), (4), (6) FS. Law Implemented 1009.981 FS. History–New 5-30-02, Amended 11-27-02, 12-28-03, 4-21-05,________.