69V-560.1012: Adoption of Forms
PURPOSE AND EFFECT: 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.
SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS: A Statement of Estimated Regulatory Cost has been prepared and is available by contacting: Mike Ramsden, Chief, Money Transmitter Regulation, Office of Financial Regulation, The Fletcher Building, 200 East Gaines Street, Tallahassee, Florida 32399; (850)410-9805; mike.ramsden@flofr.com
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: 560.105, 560.209 FS.
LAW IMPLEMENTED: 560.209 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: Mike Ramsden, Chief, Money Transmitter Regulation, Office of Financial Regulation, The Fletcher Building, 200 East Gaines Street, Tallahassee, Florida 32399; (850)410-9805; mike.ramsden@flofr.com
THE FULL TEXT OF THE PROPOSED RULE IS:
69V-560.1012 Adoption of Forms.
(1) The following forms are incorporated by reference and readopted by this rule for the purposes of Rules 69V-560.102-.913, F.A.C.:
(a) Application for Licensure as a Money Services Business, Form OFR-560-01, effective_______ 1-13-09.
(b) Location Notification Form, Form OFR-560-02, effective 1-13-09.
(c) Declaration of Intent to Engage in Deferred Presentment Transactions, Form OFR-560-03, effective 1-13-09.
(d) Money Services Business Quarterly Report Form, Form OFR-560-04, effective 1-13-09.
(e) Pledge Agreement, Form OFR-560-05, effective 1-13-09.
(f) Money Services Business Surety Bond Form, Form OFR-560-06, effective 1-13-09.
(g) Security Device Calculation Form, Form OFR-560-07, effective _______ 1-13-09.
(h) Florida Fingerprint Card (FL922720Z), effective 1-13-09.
(i) Currency Transaction Report, FinCEN Form 104, effective 1-13-09.
(j) Suspicious Activity Report by Money Services Business, FinCEN Form 109, effective 1-13-09.
(k) Report of International Transportation of Currency or Monetary Instruments, FinCEN Form 105, effective 1-13-09.
(2) All forms adopted by this rule are available on the Office’s website at www.flofr.com and by mail from the Office of Financial Regulation, 200 East Gaines Street, Tallahassee, Florida 32399-0376.
Specific Authority 560.105, 560.118, 560.141, 560.2085, 560.209, 560.403 FS. Law Implemented 560.118, 560.140, 560.141, 560.205, 560.2085, 560.209, 560.403, 943.053 FS. History–New 1-13-09, Amended________.