7027570, 69V-560.1012 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 7027570

Notice of Development of Rulemaking

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 rules amend 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 solely to the physical transportation of currency or other valuables via armored cars.

SUBJECT:

Money Services Businesses.

RULEMAKING AUTHORITY:

560.105, 560.209 FS.

LAW:

560.209 FS.

PRINT PUBLISH DATE:

4/17/2009 Vol. 35/15

RELATED STATUTES
AND LAWS:

560.105, 560.209 FS., 560.209 FS.

OVERSIGHT COMMITTEE:

Joint Administrative Procedures Committee
Florida Administrative Law Central Online Network (F.A.L.C.O.N.)

RELATED COURT CASES:

Division of Administrative Hearings

FEDERAL eRULEMAKING
WEB PORTAL:

Regulations.gov

HOW TO LINK TO
THIS NOTICE:

http://flrules.org/gateway/ruleno.asp?id=69V-560.1012&PDate=4/17/2009&Section=1

REFERENCE MATERIALS:

No reference(s).

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