Florida Senate - 2008 COMMITTEE AMENDMENT
Bill No. CS for SB 2158
163332
Senate
Comm: RCS
3/26/2008
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House
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The Committee on Finance and Tax (Storms) recommended the
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following amendment:
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Senate Amendment (with title amendment)
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Delete everything after the enacting clause
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and insert:
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Section 1. Section 560.103, Florida Statutes, is amended to
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read:
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560.103 Definitions.--As used in this chapter, the term the
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code, unless the context otherwise requires:
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(1) "Affiliated party" means a director, officer,
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responsible person, employee, or foreign affiliate of a money
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services business, or a person who has a controlling interest in
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a money services business as provided in s. 560.127.
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(2)(1) "Appropriate regulator" means a any state, or
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federal, or foreign agency that, including the commission or
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office, which has been granted state or federal statutory
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authority to enforce state, federal, or foreign laws related to a
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money services business or deferred presentment provider with
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regard to the money transmission function.
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(3)(2) "Authorized vendor" means a person designated by a
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money services business licensed under part II of this chapter a
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registrant to act engage in the business of a money transmitter
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on behalf of the licensee the registrant at locations in this
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state pursuant to a written contract with the licensee
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registrant.
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(4) "Branch office" means the physical location, other than
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the principal place of business, of a money services business
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operated by a licensee under this chapter.
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(5) "Cashing" means providing currency for payment
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instruments except for travelers checks.
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(6)(3) "Check casher" means a person who, for compensation,
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sells currency in exchange for payment instruments received,
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except travelers checks and foreign-drawn payment instruments.
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(4) "Code" means the "Money Transmitters' Code," consisting
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of:
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(a) Part I of this chapter, relating to money transmitters
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generally.
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(b) Part II of this chapter, relating to payment
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instruments and funds transmission.
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(c) Part III of this chapter, relating to check cashing and
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foreign currency exchange.
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(d) Part IV of this chapter, relating to deferred
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presentments.
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(7) "Commission" means the Financial Services Commission.
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(8) "Compliance officer" means the individual in charge of
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overseeing, managing, and ensuring that a money services business
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is in compliance with all state and federal laws and rules
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relating to money services businesses, as applicable, including
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all money laundering laws and rules.
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(5) "Consideration" means and includes any premium charged
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for the sale of goods, or services provided in connection with
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the sale of the goods, which is in excess of the cash price of
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such goods.
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(9)(6) "Currency" means the coin and paper money of the
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United States or of any other country which is designated as
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legal tender and which circulates and is customarily used and
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accepted as a medium of exchange in the country of issuance.
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Currency includes United States silver certificates, United
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States notes, and Federal Reserve notes. Currency also includes
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official foreign bank notes that are customarily used and
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accepted as a medium of exchange in a foreign country.
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(7) "Commission" means the Financial Services Commission.
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(10) "Deferred presentment provider" means a person who is
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licensed under part II or part III of this chapter and has filed
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a declaration of intent with the office to engage in deferred
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presentment transactions as provided under part IV of this
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chapter.
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(11) "Electronic instrument" means a card, tangible object,
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or other form of electronic payment for the transmission or
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payment of money or the exchange of monetary value, including a
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stored value card or device that contains a microprocessor chip,
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magnetic stripe, or other means for storing information; that is
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prefunded; and for which the value is decremented upon each use.
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(12) "Financial audit report" means a report prepared in
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connection with a financial audit that is conducted in accordance
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with generally accepted auditing standards prescribed by the
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American Institute of Certified Public Accountants by a certified
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public accountant licensed to do business in the United States,
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and which must include:
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(a) Financial statements, including notes related to the
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financial statements and required supplementary information,
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prepared in conformity with accounting principles generally
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accepted in the United States. The notes must, at a minimum,
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include detailed disclosures regarding receivables that are
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greater than 90 days, if the total amount of such receivables
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represent more than 2 percent of the licensee's total assets.
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(b) An expression of opinion regarding whether the
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financial statements are presented in conformity with accounting
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principles generally accepted in the United States, or an
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assertion to the effect that such an opinion cannot be expressed
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and the reasons.
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(13) "Foreign affiliate" means a person located outside
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this state who has been designated by a licensee to make payments
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on behalf of the licensee to persons who reside outside this
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state. The term also includes a person located outside of this
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state for whom the licensee has been designated to make payments
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in this state.
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(8) "Office" means the Office of Financial Regulation of
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the commission.
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(14)(9) "Foreign currency exchanger" means a person who
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exchanges, for compensation, currency of the United States or a
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foreign government to currency of another government.
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(10) "Funds transmitter" means a person who engages in the
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receipt of currency or payment instruments for the purpose of
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transmission by any means, including transmissions within this
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country or to or from locations outside this country, by wire,
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facsimile, electronic transfer, courier, or otherwise.
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(15) "Licensee" means a person licensed under this chapter.
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(16) "Location" means a branch office, mobile location, or
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location of an authorized vendor whose business activity is
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regulated under this chapter.
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(17) "Monetary value" means a medium of exchange, whether
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or not redeemable in currency.
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(18)(11) "Money services business transmitter" means any
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person located in or doing business in this state, from this
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state, or into this state from locations outside this state or
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country who acts as a payment instrument seller, foreign currency
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exchanger, check casher, or money funds transmitter, or deferred
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presentment provider.
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(19) "Money transmitter" means a corporation, limited
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liability company, limited liability partnership, or foreign
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entity qualified to do business in this state which receives
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currency, monetary value, or payment instruments for the purpose
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of transmitting the same by any means, including transmission by
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wire, facsimile, electronic transfer, courier, the Internet, or
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through bill payment services or other businesses that facilitate
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such transfer within this country, or to or from this country.
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(12) "Money transmitter-affiliated party" means any
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director, officer, responsible person, employee, authorized
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vendor, independent contractor of a money transmitter, or a
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person who has filed, is required to file, or is found to control
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a money transmitter pursuant to s. 560.127, or any person engaged
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in any jurisdiction, at any time, in the business of money
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transmission as a controlling shareholder, director, officer, or
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responsible person who becomes involved in a similar capacity
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with a money transmitter registered in this state.
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(20) "Net worth" means assets minus liabilities, determined
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in accordance with United States generally accepted accounting
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principles.
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(21) "Office" means the Office of Financial Regulation of
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the commission.
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(22)(13) "Officer" means an individual, other than a
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director whether or not the individual has an official title or
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receives a salary or other compensation, who participates in, or
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has authority to participate, other than in the capacity of a
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director, in, the major policymaking functions of a the money
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services transmitter business, regardless of whether the
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individual has an official title or receives a salary or other
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compensation.
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(23) "Outstanding money transmission" means a money
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transmission to a designated recipient or a refund to a sender
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that has not been completed.
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(24)(14) "Outstanding payment instrument instruments" means
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an unpaid payment instrument instruments whose sale has been
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reported to a licensee registrant.
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(25)(15) "Payment instrument" means a check, draft,
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warrant, money order, travelers check, electronic instrument, or
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other instrument, or payment of money, or monetary value whether
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or not negotiable. The term Payment instrument does not include
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an instrument that is redeemable by the issuer in merchandise or
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service, a credit card voucher, or a letter of credit.
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(26)(16) "Payment instrument seller" means a corporation,
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limited liability company, limited liability partnership, or
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foreign entity qualified to do business in this state which
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person who sells a payment instrument.
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(27)(17) "Person" means an any individual, partnership,
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association, trust, corporation, limited liability company, or
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other group, however organized, but does not include a public the
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governments of the United States or this state or any department,
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agency, or instrumentality thereof.
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(18) "Registrant" means a person registered by the office
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pursuant to the code.
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(28)(19) "Responsible person" means an individual a person
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who is employed by or affiliated with a money services business
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transmitter and who has principal active management authority
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over the business decisions, actions, and activities of the money
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services business transmitter in this state.
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(29)(20) "Sells Sell" means to sell, issue, provide, or
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deliver.
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(30) "Stored value" means funds or monetary value
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represented in digital electronics format, whether or not
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specially encrypted, and stored or capable of storage on
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electronic media in such a way as to be retrievable and
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transferred electronically.
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(21) "Unsafe and unsound practice" means:
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(a) Any practice or conduct found by the office to be
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contrary to generally accepted standards applicable to the
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specific money transmitter, or a violation of any prior order of
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an appropriate regulatory agency, which practice, conduct, or
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violation creates the likelihood of material loss, insolvency, or
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dissipation of assets of the money transmitter or otherwise
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materially prejudices the interests of its customers; or
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(b) Failure to adhere to the provisions of 31 C.F.R. ss.
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103.20, 103.22, 103.27, 103.28, 103.29, 103.33, 103.37, 103.41,
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and 103.125 as they existed on March 31, 2004.
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In making a determination under this subsection, the office must
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consider the size and condition of the money transmitter, the
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magnitude of the loss, the gravity of the violation, and the
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prior conduct of the person or business involved.
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Section 2. New subsection (19) of s. 560.103, Florida
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Statutes, and present subsection (16) of that section, as amended
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by this act, shall take effect January 1, 2009.
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Section 3. Section 560.104, Florida Statutes, is amended to
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read:
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560.104 Exemptions.--The following entities are exempt from
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the provisions of this chapter the code:
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(1) Banks, credit card banks, credit unions, trust
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companies, associations, offices of an international banking
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corporation, Edge Act or agreement corporations, or other
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financial depository institutions organized under the laws of any
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state or the United States, provided that they do not sell
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payment instruments through authorized vendors who are not such
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entities.
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(2) The United States or any agency or department,
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instrumentality, or agency thereof.
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(3) This state or any political subdivision of this state.
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Section 4. Section 560.105, Florida Statutes, is amended to
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read:
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560.105 Supervisory powers; rulemaking.--
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(1) Consistent with the purposes of the code, The office
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shall have:
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(a) Supervise Supervision over all money services
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businesses transmitters and their authorized vendors.
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(b) Have access to the books and records of persons over
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whom the office supervises exercises supervision as is necessary
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to carry out for the performance of the duties and functions of
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the office under this chapter prescribed by the code.
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(c) Power to Issue orders and declaratory statements,
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disseminate information, and otherwise administer and enforce
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this chapter and all related rules in order exercise its
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discretion to effectuate the purposes, policies, and provisions
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of this chapter the code.
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(2) Consistent with the purposes of the code, The
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commission may adopt rules pursuant to ss. 120.536(1) and 120.54
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to administer this chapter implement the provisions of the code.
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(a)(3) The commission may adopt rules pursuant to ss.
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120.536(1) and 120.54 requiring electronic submission of any
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forms, documents, or fees required by this chapter, which must
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code if such rules reasonably accommodate technological or
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financial hardship. The commission may prescribe by rule
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requirements and provide procedures for obtaining an exemption
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due to a technological or financial hardship.
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(b) Rules adopted to regulate money services businesses,
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including deferred presentment providers, must be responsive to
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changes in economic conditions, technology, and industry
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practices.
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Section 5. Section 560.109, Florida Statutes, is amended to
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read:
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560.109 Examinations and investigations, subpoenas,
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hearings, and witnesses.--
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(1) The office may conduct examinations and make
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investigations or examinations as prescribed in s. 560.118,
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within or outside this state, which it deems necessary in order
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to determine whether a person has violated any provision of this
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chapter and related rules the code, the rules adopted by the
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commission pursuant to the code, or of any practice or conduct
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that creates the likelihood of material loss, insolvency, or
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dissipation of the assets of a money services business or
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otherwise materially prejudices the interests of their customers
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31 C.F.R. ss. 103.20, 103.22, 103.27, 103.28, 103.29, 103.33,
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103.37, 103.41, and 103.125 as they existed on March 31, 2004.
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(1) The office may examine each licensee as often as is
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warranted for the protection of customers and in the public
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interest, but at least once every 5 years. A new licensee shall
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be examined within 6 months after the issuance of the license.
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The office shall provide at least 15 days' notice to a money
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services business, its authorized vendor, or license applicant
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before conducting an examination or investigation. However, the
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office may conduct an examination or investigation of a money
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services business, authorized vendor, or affiliated party at any
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time and without advance notice if the office suspects that the
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money services business, authorized vendor, or affiliated party
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has violated or is about to violate any provisions of this
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chapter or any criminal laws of this state or of the United
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States.
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(2) The office may conduct a joint or concurrent
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examination with any state or federal regulatory agency and may
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furnish a copy of all examinations to an appropriate regulator if
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the regulator agrees to abide by the confidentiality provisions
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in chapter 119 and this chapter. The office may also accept an
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examination from any appropriate regulator or, pursuant to s.
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560.1091, from an independent third party that has been approved
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by the office.
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(3) Persons subject to this chapter who are examined or
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investigated shall make available to the office all books,
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accounts, documents, files, information, assets, and matters that
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are in their immediate possession or control and that relate to
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the subject of the examination or investigation.
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(a) Records not in their immediate possession must be made
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available to the office within 3 days after actual notice is
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served.
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(b) Upon notice, the office may require that records
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written in a language other than English be accompanied by a
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certified translation at the expense of the licensee. For
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purposes of this section, the term "certified translation" means
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a document translated by a person who is currently certified as a
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translator by the American Translators Association or other
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organization designated by rule.
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(4)(2)(a) In the course of or in connection with any
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examination or an investigation conducted by the office:
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(a) An employee of the office holding the title and
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position of a pursuant to the provisions of subsection (1) or an
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investigation or examination in connection with any application
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to the office for the organization or establishment of a money
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transmitter business, or in connection with an examination or
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investigation of a money transmitter or its authorized vendor,
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the office, or any of its officers holding no lesser title and
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position than financial examiner or analyst, financial
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investigator, or attorney at law, or higher may:
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1. Administer oaths and affirmations.
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2. Take or cause to be taken testimony and depositions.
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(b) The office, or any of its employees officers holding a
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title of no lesser title than attorney, or area financial
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manager, or higher may issue, revoke, quash, or modify subpoenas
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and subpoenas duces tecum under the seal of the office or cause
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any such subpoena or subpoena duces tecum to be issued by any
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county court judge or clerk of the circuit court or county court
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to require persons to appear before the office at a reasonable
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time and place to be therein named and to bring such books,
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records, and documents for inspection as may be therein
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designated. Such subpoenas may be served by a representative of
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the office or may be served as otherwise provided for by law for
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the service of subpoenas.
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(c) In connection with any such investigation or
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examination, The office may allow permit a person to file a
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statement in writing, under oath, or otherwise as the office
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determines, as to facts and circumstances specified by the
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office.
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(5)(3)(a) If a person does not comply In the event of
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noncompliance with a subpoena issued or caused to be issued by
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the office pursuant to this section, the office may petition a
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court of competent jurisdiction the circuit court of the county
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in which the person subpoenaed resides or has its principal place
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of business for an order requiring the subpoenaed person to
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appear and testify and to produce such books, records, and
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documents as are specified in the such subpoena duces tecum. The
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office is entitled to the summary procedure provided in s.
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51.011, and the court shall advance the cause on its calendar.
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(a)(b) A copy of the petition shall be served upon the
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person subpoenaed by any person authorized by this section to
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serve subpoenas, who shall make and file with the court an
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affidavit showing the time, place, and date of service.
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(b)(c) At a any hearing on the any such petition, the
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person subpoenaed, or any person whose interests are will be
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substantially affected by the investigation, examination, or
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subpoena, may appear and object to the subpoena and to the
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granting of the petition. The court may make any order that
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justice requires in order to protect a party or other person and
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her or his personal and property rights, including, but not
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limited to, protection from annoyance, embarrassment, oppression,
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or undue burden, or expense.
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(c)(d) Failure to comply with an order granting, in whole
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or in part, a petition for enforcement of a subpoena is a
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contempt of the court.
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(6)(4) Witnesses are entitled to the same fees and mileage
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to which they would be entitled by law for attending as witnesses
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in the circuit court, except that no fees or mileage is not
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allowed for the testimony of a person taken at the person's
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principal office or residence.
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(7)(5) Reasonable and necessary costs incurred by the
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office or third parties authorized by the office in connection
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and payable to persons involved with examinations or
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investigations may be assessed against any person subject to this
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chapter on the basis of actual costs incurred. Assessable
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expenses include, but are not limited to,: expenses for:
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interpreters; certified translations of documents into the
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English language required by this chapter or related rules;
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expenses for communications; expenses for legal representation;
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expenses for economic, legal, or other research, analyses, and
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testimony; and fees and expenses for witnesses. The failure to
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reimburse the office is a ground for denial of a license the
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registration application, denial of a license renewal, or for
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revocation of any approval thereof. Except for examinations
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authorized under s. 560.109, No such costs may not shall be
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assessed against a person unless the office determines has
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determined that the person has operated or is operating in
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violation of this chapter the code.
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(8) The office shall provide a written report of any
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violation of law that may be a felony to the appropriate criminal
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investigatory agency having jurisdiction with respect to such
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violation.
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(9) The office shall prepare and submit an annual report to
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the President of the Senate and the Speaker of the House of
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Representatives beginning January 1, 2009, through January 1,
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2014, which includes:
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(a) The total number of examinations and investigations
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that resulted in a referral to a state or federal agency and the
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disposition of each of those referrals by agency.
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(b) The total number of initial referrals received from
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another state or federal agency, the total number of examinations
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and investigations opened as a result of referrals, and the
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disposition of each of those cases.
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(c) The number of examinations or investigations undertaken
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by the office which were not the result of a referral from
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another state agency or a federal agency.
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(d) The total amount of fines assessed and collected by the
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office as a result of an examination or investigation of
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activities regulated under parts II and III of this chapter.
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Section 6. Section 560.1091, Florida Statutes, is created
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to read:
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560.1091 Contracted examinations.--The office may contract
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with third parties to conduct examinations under this chapter.
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(1) The person or firm selected by the office may not have
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a conflict of interest that might affect its ability to
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independently perform its responsibilities with respect to an
408
examination.
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(2) An examination under this section may be conducted by
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an independent certified public accountant, information
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technology specialist, or other specialist specified by rule who
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meets criteria specified by rule. The rules shall also provide
413
that:
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(a) The rates charged to the licensee examined are
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consistent with rates charged by other firms in similar
416
professions and are comparable with the rates charged for
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comparable examinations.
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(b) The licensee make payment for the examination pursuant
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to s. 560.1092 and in accordance with the rates and terms
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established by the office and the person or firm performing the
421
examination.
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Section 7. Section 560.1092, Florida Statutes, is created
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to read:
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560.1092 Examination expenses.--
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(1) Each licensee examined shall pay to the office the
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expenses of the examination at the rates adopted by the
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commission by rule. Such expenses shall include actual travel
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expenses, reasonable living expense allowance, compensation of
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the examiner or other person making the examination, and
430
necessary attendant administrative costs of the office directly
431
related to the examination. Travel expense and living expense
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allowance are limited to those expenses incurred on account of
433
the examination and shall be paid by the examined licensee
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together with compensation upon presentation by the office to the
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licensee of a detailed account of the charges and expenses after
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a detailed statement has been filed by the examiner and approved
437
by the office.
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(2) All moneys collected from licensees for examinations
439
shall be deposited into the Regulatory Trust Fund, and the office
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may make deposits into such fund from moneys appropriated for the
441
operation of the office.
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(3) Notwithstanding s. 112.061, the office may pay to the
443
examiner or person making the examination out of the trust fund
444
the actual travel expenses, reasonable living expense allowance,
445
and compensation in accordance with the statement filed with the
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office by the examiner or other person, as provided in subsection
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(1) upon approval by the office.
448
(4) When not examining a licensee, the travel expenses, per
449
diem, and compensation for the examiners and other persons
450
employed to make examinations, if approved, shall be paid out of
451
moneys budgeted for such purpose as regular employees, and
452
reimbursement for travel expenses and per diem shall be at rates
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as provided in s. 112.061.
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Section 8. Section 560.110, Florida Statutes, is created to
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read:
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560.110 Records retention.--Each licensee and its
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authorized vendors must maintain all books, accounts, documents,
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files, and information necessary for determining compliance with
459
this chapter and related rules for 5 years unless a longer period
460
is required by other state or federal law.
461
(1) The records required under this chapter may be
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maintained by the licensee at any location identified in its
463
license application or by amendment to the application. The
464
licensee must make such records available to the office for
465
examination and investigation in this state within 3 business
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days after receipt of a written request.
467
(2) The original of any record of a licensee or authorized
468
vendor includes a record stored or transmitted by electronic,
469
computerized, mechanized, or other information storage or
470
retrieval or transmission system or device that can generate,
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regenerate, or transmit the precise data or other information
472
comprising the record. An original also includes the visible data
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or other information so generated, regenerated, or transmitted if
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it is legible or can be made legible by enlargement or other
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process.
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(3) The commission may adopt rules to administer this
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section and ss. 560.211 and 560.310. In adopting rules, the
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commission shall take into consideration federal regulations,
479
rulings, and guidance issued by an appropriate regulator.
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(4) Any person who willfully fails to comply with this
481
section or ss. 560.211 and 560.310 commits a felony of the third
482
degree, punishable as provided in s. 775.082, s. 775.083, or s.
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775.084.
484
Section 9. Section 560.111, Florida Statutes, is amended to
485
read:
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560.111 Prohibited acts and practices.--
487
(1) A money services business, authorized vendor, or
488
affiliated party may not It is unlawful for any money transmitter
489
or money transmitter-affiliated party to:
490
(a) Receive or possess itself of any property except
491
otherwise than in payment of a just demand, and, with intent to
492
deceive or defraud, to omit to make or to cause to be made a full
493
and true entry thereof in its books and accounts, or to concur in
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omitting to make any material entry thereof.;
495
(b) Embezzle, abstract, or misapply any money, property, or
496
thing of value belonging to the money services business, an of
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the money transmitter or authorized vendor, or customer with
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intent to deceive or defraud. such money transmitter or
499
authorized vendor;
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(c) Make any false entry in its books, accounts, reports,
501
files, or documents any book, report, or statement of such money
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transmitter or authorized vendor with intent to deceive or
503
defraud such money transmitter, authorized vendor, or another
504
person, or with intent to deceive the office, any appropriate
505
regulator other state or federal regulatory agency, or any
506
authorized third party representative appointed by the office to
507
examine or investigate the affairs of the such money services
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business transmitter or authorized vendor.;
509
(d) Engage in an act that violates 18 U.S.C. s. 1956, 18
510
U.S.C. s. 1957, 18 U.S.C. s. 1960, 31 U.S.C. s. 5324, or any
511
other law, rule, or regulation of another state or of the United
512
States relating to a money services business, deferred
513
presentment provider, the business of money transmission or usury
514
which may cause the denial or revocation of a money services
515
business or deferred presentment provider transmitter license or
516
the equivalent registration in that such jurisdiction.;
517
(e) File with the office, sign as a duly authorized
518
representative, or deliver or disclose, by any means, to the
519
office or any of its employees any examination report, report of
520
condition, report of income and dividends, audit, account,
521
statement, file, or document known by it to be fraudulent or
522
false as to any material matter.; or
523
(f) Place among the assets of a money services business
524
such money transmitter or authorized vendor any note, obligation,
525
or security that the money services business transmitter or
526
authorized vendor does not own or is known to be that to the
527
person's knowledge is fraudulent or otherwise worthless, or for
528
any such person to represent to the office that any note,
529
obligation, or security carried as an asset of such money
530
transmitter or authorized vendor is the property of the money
531
services business transmitter or authorized vendor and is genuine
532
if it is known to be such person that such representation is
533
false or that such note, obligation, or security is fraudulent or
534
otherwise worthless.
535
(2) A It is unlawful for any person may not to knowingly
536
execute, or attempt to execute, a scheme or artifice to defraud a
537
money services business transmitter or authorized vendor, or to
538
obtain any of the moneys, funds, credits, assets, securities, or
539
other property owned by, or under the custody or control of, a
540
money services business transmitter or authorized vendor, by
541
means of false or fraudulent pretenses, representations, or
542
promises.
543
(3) Any person who violates any provision of this section
544
commits a felony of the third degree, punishable as provided in
545
s. 775.082, s. 775.083, or s. 775.084.
546
(4) Any person who willfully violates any provision of s.
547
560.403, s. 560.404, s. 560.405, or s. 560.407 commits a felony
548
of the third degree, punishable as provided in s. 775.082, s.
549
775.083, or s. 775.084.
550
Section 10. Section 560.113, Florida Statutes, is amended
551
to read:
552
560.113 Injunctions; receiverships; restitution.--Whenever
553
a violation of the code is threatened or impending and such
554
violation will cause substantial injury to any person, the
555
circuit court has jurisdiction to hear any complaint filed by the
556
office and, upon proper showing, to issue an injunction
557
restraining such violation or granting other such appropriate
558
relief.
559
(1) If the office determines that any person has engaged in
560
or is about to engage in any action that is a violation of this
561
chapter or related rules, the office may, in addition to or in
562
lieu of other remedies, bring an action on behalf of the state in
563
the circuit court against the person and any other person acting
564
in concert with such person to enjoin such person from engaging
565
in such act. The office may apply for, and on due showing be
566
entitled to have issued, the court's subpoena requiring the
567
appearance of the person and her or his employees, associated
568
persons, or agents and the production of any documents, books, or
569
records that may appear necessary for the hearing of the
570
petition, and to testify or give evidence concerning the acts
571
complained of.
572
(2) In addition to, or in lieu of, the enforcement of a
573
temporary restraining order, temporary injunction, or permanent
574
injunction against the person, the court may, upon application of
575
the office, impound and appoint a receiver or administrator for
576
the property, assets, and business of the defendant, including,
577
but not limited to, any related books, records, documents, or
578
papers. The receiver or administrator shall have all powers and
579
duties conferred by the court as to the custody, collection,
580
administration, winding up, and liquidation of the property and
581
business. The court may issue orders and decrees staying all
582
pending suits and enjoining any further suits affecting the
583
receiver's or administrator's custody or possession of the
584
property, assets, and business or may, with the consent of the
585
presiding judge of the circuit, require that all such suits be
586
assigned to the judge appointing the receiver or administrator.
587
(3) In addition to, or in lieu of, any other remedies
588
provided under this chapter, the office may apply to the court
589
hearing the matter for an order directing the defendant to make
590
restitution of those sums shown by the office to have been
591
obtained in violation of this chapter. Such restitution shall, at
592
the option of the court, be payable to the administrator or
593
receiver appointed under this section or directly to the persons
594
whose assets were obtained in violation of this chapter.
595
Section 11. Section 560.114, Florida Statutes, is amended
596
to read:
597
560.114 Disciplinary actions; penalties.--
598
(1) The following actions by a money services business,
599
authorized vendor, or affiliated party transmitter or money
600
transmitter-affiliated party are violations of the code and
601
constitute grounds for the issuance of a cease and desist order,
602
the issuance of a removal order, the denial, of a registration
603
application or the suspension, or revocation of a license any
604
registration previously issued pursuant to the code, or the
605
taking of any other action within the authority of the office
606
pursuant to this chapter the code:
607
(a) Failure to comply with any provision of this chapter or
608
related the code, any rule or order adopted pursuant thereto, or
609
any written agreement entered into with the office.
610
(b) Fraud, misrepresentation, deceit, or gross negligence
611
in any transaction by a involving money services business
612
transmission, regardless of reliance thereon by, or damage to, a
613
money transmitter customer.
614
(c) Fraudulent misrepresentation, circumvention, or
615
concealment of any matter that must required to be stated or
616
furnished to a money transmitter customer pursuant to this
617
chapter the code, regardless of reliance thereon by, or damage
618
to, such customer.
619
(d) False, deceptive, or misleading advertising.
620
(e) Failure to maintain, preserve, and keep available for
621
examination, and produce all books, accounts, files, or other
622
documents required by this chapter or related rules or orders the
623
code, by any rule or order adopted pursuant to the code, by 31
624
C.F.R. ss. 103.20, 103.22, 103.23, 103.27, 103.28, 103.29,
625
103.33, 103.37, 103.41, and 103.125 as they existed on March 31,
626
2004, or by any agreement entered into with the office.
627
(f) Refusing to allow Refusal to permit the examination or
628
inspection of books, accounts, files, or other documents and
629
records in an investigation or examination by the office,
630
pursuant to this chapter the provisions of the code, or to comply
631
with a subpoena issued by the office.
632
(g) Failure to pay a judgment recovered in any court in
633
this state by a claimant in an action arising out of a money
634
transmission transaction within 30 days after the judgment
635
becomes final.
636
(h) Engaging in an act prohibited under or practice
637
proscribed by s. 560.111.
638
(i) Insolvency or operating in an unsafe and unsound
639
manner.
640
(j) Failure by a money services business transmitter to
641
remove an affiliated a money transmitter-affiliated party after
642
the office has issued and served upon the money services business
643
transmitter a final order setting forth a finding that the
644
affiliated money transmitter-affiliated party has violated a any
645
provision of this chapter the code.
646
(k) Making a any material misstatement, or
647
misrepresentation, or omission or committing any fraud in an
648
initial or renewal application for licensure, any amendment to
649
such application, or application for the appointment of an
650
authorized vendor registration.
651
(l) Committing any act that results resulting in a license
652
an application for registration, or a registration or its
653
equivalent, to practice any profession or occupation being
654
denied, suspended, revoked, or otherwise acted against by a
655
licensing registering authority in any jurisdiction or a finding
656
by an appropriate regulatory body of engaging in unlicensed
657
activity as a money transmitter within any jurisdiction.
658
(m) Being the subject of final agency action or its
659
equivalent, issued by an appropriate regulator, for engaging in
660
unlicensed activity as a money services business or deferred
661
presentment provider in any jurisdiction.
662
(n)(m) Committing any act resulting in a license
663
registration or its equivalent, or an application for
664
registration, to practice any profession or occupation being
665
denied, suspended, revoked, or otherwise acted against by a
666
licensing registering authority in any jurisdiction for a
667
violation of 18 U.S.C. s. 1956, 18 U.S.C. s. 1957, 18 U.S.C. s.
668
1960, 31 U.S.C. s. 5324, or any other law or, rule, or regulation
669
of another state or of the United States relating to a money
670
services business, deferred presentment provider, the business of
671
money transmission or usury that which may cause the denial,
672
suspension, or revocation of a money services business or
673
deferred presentment provider transmitter license or its
674
equivalent or registration in such jurisdiction.
675
(o)(n) Having been convicted of or found guilty of, or
676
entered a plea of having pleaded guilty or nolo contendere to,
677
any felony or crime punishable by imprisonment of 1 year or more
678
under the law of any state or of the United States which involves
679
fraud, moral turpitude, or dishonest dealing, regardless of
680
adjudication without regard to whether a judgment of conviction
681
has been entered by the court.
682
(p)(o) Having been convicted of or found guilty of, or
683
entered a plea of having pleaded guilty or nolo contendere to, a
684
crime under 18 U.S.C. s. 1956 or 31 U.S.C. s. 5324, regardless of
685
adjudication without regard to whether a judgment of conviction
686
has been entered by the court.
687
(q)(p) Having been convicted of or found guilty of, or
688
entered a plea of having pleaded guilty or nolo contendere to,
689
misappropriation, conversion, or unlawful withholding of moneys
690
belonging that belong to others, regardless of adjudication and
691
were received in the conduct of the business of the money
692
transmitter.
693
(r)(q) Failure to inform the office in writing within 30 15
694
days after having pled pleading guilty or nolo contendere to, or
695
being convicted or found guilty of, any felony or crime
696
punishable by imprisonment of 1 year or more under the law of any
697
state or of the United States, or of any crime involving fraud,
698
moral turpitude, or dishonest dealing, without regard to whether
699
a judgment of conviction has been entered by the court.
700
(s)(r) Aiding, assisting, procuring, advising, or abetting
701
any person in violating a provision of this chapter code or any
702
order or rule of the office or commission.
703
(t)(s) Failure to timely pay any fee, charge, or cost
704
imposed or assessed fine under this chapter the code.
705
(u) Failing to pay a fine assessed by the office within 30
706
days after the due date as stated in a final order.
707
(v)(t) Failure to pay any judgment entered by any court
708
within 30 days after the judgment becomes final.
709
(u) Engaging or holding oneself out to be engaged in the
710
business of a money transmitter without the proper registration.
711
(v) Any action that would be grounds for denial of a
712
registration or for revocation, suspension, or restriction of a
713
registration previously granted under part III of this chapter.
714
(w) Failure to pay any fee, charge, or fine under the code.
715
(w)(x) Engaging or advertising engagement in the business
716
of a money services business or deferred presentment provider
717
transmitter without a license registration, unless the person is
718
exempted from licensure the registration requirements of the
719
code.
720
(x)(y) Payment to the office for a license or other fee,
721
charge, cost, or fine permit with a check or electronic
722
transmission of funds that is dishonored by the applicant's or
723
licensee's financial institution.
724
(y) Violations of 31 C.F.R. ss. 103.20, 103.22, 103.23,
725
103.27, 103.28, 103.29, 103.33, 103.37, 103.41, and 103.125, and
726
United States Treasury Interpretative Release 2004-1.
727
(z) Any practice or conduct that creates the likelihood of
728
a material loss, insolvency, or dissipation of assets of a money
729
services business or otherwise materially prejudices the
730
interests of its customers.
731
(2) The office may immediately suspend the license of any
732
money services business if the money services business fails to
733
provide to the office, upon written request, any of the records
734
required by ss. 560.123, 560.1235, 560.211, and 560.310. The
735
suspension may be rescinded if the licensee submits the requested
736
records to the office. For purposes of s. 120.60(6), failure to
737
provide any of the above-mentioned records constitutes immediate
738
and serious danger to the public health, safety, and welfare.
739
(3) The office may deny licensure if the applicant or an
740
affiliated party is the subject of a pending criminal prosecution
741
or governmental enforcement action in any jurisdiction until the
742
conclusion of the prosecution or action.
743
(4)(2) The office may issue a cease and desist order or
744
removal order, suspend or revoke a license any previously issued
745
registration, or take any other action within the authority of
746
the office against a licensee money transmitter based on any fact
747
or condition that exists and that, if it had existed or been
748
known to exist at the time of license application the money
749
transmitter applied for registration, would have been grounds for
750
license denial of registration.
751
(5)(3) A Each money services business licensed under part
752
II of this chapter transmitter is responsible for any act of its
753
authorized vendors if the money services business transmitter
754
should have known of the act or had if the money transmitter has
755
actual knowledge that such act is a violation of this chapter,
756
the code and the money services business transmitter willfully
757
allowed the such act to continue. Such responsibility is limited
758
to conduct engaged in by the authorized vendor pursuant to the
759
authority granted to it by the money services business
760
transmitter.
761
(6)(4) If a license registration granted under this chapter
762
code expires or is surrendered by the licensee registrant during
763
the pendency of an administrative action under this code, the
764
proceeding may continue as if the license is registration were
765
still in effect.
766
(7) The office may, in addition to or in lieu of the
767
denial, suspension, or revocation of a license, impose a fine of
768
at least $1,000 but not more than $10,000 for each violation of
769
this chapter.
770
(8) In addition to any other provision of this chapter, the
771
office may impose a fine of up to $1,000 per day for each day
772
that a person engages in the business of a money services
773
business or deferred presentment provider without being licensed.
774
Section 12. Section 560.1141, Florida Statutes, is created
775
to read:
776
560.1141 Disciplinary guidelines.--
777
(1) The commission shall adopt by rule disciplinary
778
guidelines applicable to each ground for disciplinary action that
779
may be imposed by the office.
780
(2) The disciplinary guidelines shall specify a meaningful
781
range of designated penalties based upon the severity and
782
repetition of specific offenses and that distinguish minor
783
violations from those that endanger the public health, safety, or
784
welfare; that provide reasonable and meaningful notice to the
785
public of likely penalties that may be imposed for proscribed
786
conduct; and that ensure that such penalties are imposed in a
787
consistent manner by the office.
788
(3) The commission shall adopt by rule mitigating and
789
aggravating circumstances that allow the office to impose a
790
penalty other than that provided for in the guidelines, and for
791
variations and a range of penalties permitted under such
792
circumstances.
793
Section 13. Section 560.115, Florida Statutes, is amended
794
to read:
795
560.115 Surrender of license registration.--A licensee Any
796
money transmitter registered pursuant to the code may voluntarily
797
surrender its license registration at any time by giving written
798
notice to the office.
799
Section 14. Section 560.116, Florida Statutes, is amended
800
to read:
801
560.116 Civil immunity.--Any person having reason to
802
believe that a provision of this chapter the code is being
803
violated, or has been violated, or is about to be violated, may
804
file a complaint with the office setting forth the details of the
805
alleged violation. Such person is immune An Immunity from civil
806
liability is hereby granted to any person who furnishes such
807
information, unless the information provided is false and has
808
been provided the person providing the information does so with
809
reckless disregard for the truth.
810
Section 15. Section 560.118, Florida Statutes, is amended
811
to read:
812
560.118 Examinations, Reports, and internal audits;
813
penalty.--
814
(1)(a) The office may conduct an examination of a money
815
transmitter or authorized vendor by providing not less than 15
816
days' advance notice to the money transmitter or authorized
817
vendor. However, if the office suspects that the money
818
transmitter or authorized vendor has violated any provisions of
819
this code or any criminal laws of this state or of the United
820
States or is engaging in an unsafe and unsound practice, the
821
office may, at any time without advance notice, conduct an
822
examination of all affairs, activities, transactions, accounts,
823
business records, and assets of any money transmitter or any
824
money transmitter-affiliated party for the protection of the
825
public. For the purpose of examinations, the office may
826
administer oaths and examine a money transmitter or any of its
827
affiliated parties concerning their operations and business
828
activities and affairs. The office may accept an audit or
829
examination from any appropriate regulatory agency or from an
830
independent third party with respect to the operations of a money
831
transmitter or an authorized vendor. The office may also make a
832
joint or concurrent examination with any state or federal
833
regulatory agency. The office may furnish a copy of all
834
examinations made of such money transmitter or authorized vendor
835
to the money transmitter and any appropriate regulatory agency
836
provided that such agency agrees to abide by the confidentiality
837
provisions as set forth in chapter 119.
838
(b) Persons subject to this chapter who are examined shall
839
make available to the office or its examiners the accounts,
840
records, documents, files, information, assets, and matters which
841
are in their immediate possession or control and which relate to
842
the subject of the examination. Those accounts, records,
843
documents, files, information, assets, and matters not in their
844
immediate possession shall be made available to the office or the
845
office's examiners within 10 days after actual notice is served
846
on such persons.
847
(c) The audit of a money transmitter required under this
848
section may be performed by an independent third party that has
849
been approved by the office or by a certified public accountant
850
authorized to do business in the United States. The examination
851
of a money transmitter or authorized vendor required under this
852
section may be performed by an independent third party that has
853
been approved by the office or by a certified public accountant
854
authorized to do business in the United States. The cost of such
855
an independent examination or audit shall be directly borne by
856
the money transmitter or authorized vendor.
857
(2)(a) Annual financial audit reports must that are
858
required to be filed with the office pursuant to this chapter or
859
related rules under the code or any rules adopted thereunder must
860
be audited by an independent third party that has been approved
861
by the office or by a certified public accountant authorized to
862
do business in the United States. The licensee money transmitter
863
or authorized vendor shall directly bear the cost of the audit.
864
This paragraph does not apply to any seller of payment
865
instruments who can prove to the satisfaction of the office that
866
it has a combined total of fewer than 50 employees and authorized
867
vendors or that its annual payment instruments issued from its
868
activities as a payment instrument seller are less than $200,000.
869
(2)(b) Each licensee must submit The commission may, by
870
rule, require each money transmitter or authorized vendor to
871
submit quarterly reports to the office in a format and include
872
information as specified by rule. The rule commission may require
873
the that each report to contain a declaration by an officer, or
874
any other responsible person authorized to make such declaration,
875
that the report is true and correct to the best of her or his
876
knowledge and belief. Such report must include such information
877
as the commission by rule requires for that type of money
878
transmitter.
879
(c) The office may levy an administrative fine of up to
880
$100 per day for each day the report is past due, unless it is
881
excused for good cause. In excusing any such administrative fine,
882
the office may consider the prior payment history of the money
883
transmitter or authorized vendor.
884
(3) Any person who willfully violates this section or fails
885
to comply with any lawful written demand or order of the office
886
made under this section commits a felony of the third degree,
887
punishable as provided in s. 775.082, s. 775.083, or s. 775.084.
888
Section 16. Section 560.119, Florida Statutes, is
889
transferred, renumbered as section 560.144, Florida Statutes, and
890
amended to read:
891
560.144 560.119 Deposit of fees and assessments.--License
892
The application fees, license registration renewal fees, late
893
payment penalties, civil penalties, administrative fines, and
894
other fees, costs, or penalties provided for in this chapter the
895
code shall, in all cases, be paid directly to the office, which
896
shall deposit such proceeds into the Regulatory Trust Fund, and
897
use the proceeds to pay the costs of the office as necessary to
898
carry out its responsibilities under this chapter. Each year, the
899
Legislature shall appropriate from the trust fund to the office
900
sufficient moneys to pay the office's costs for administration of
901
the code. The Regulatory Trust Fund is subject to the service
902
charge imposed pursuant to chapter 215.
903
Section 17. Section 560.121, Florida Statutes, is amended
904
to read:
905
560.121 Access to records; record retention; penalties
906
limited restrictions upon public access.--
907
(1)(a) Orders of courts or of administrative law judges for
908
the production of confidential records or information must shall
909
provide for inspection in camera by the court or the
910
administrative law judge; and, if after the court or
911
administrative law judge determines has made a determination that
912
the documents requested are relevant or would likely lead to the
913
discovery of admissible evidence, said documents shall be subject
914
to further orders by the court or the administrative law judge
915
must issue further orders to protect the confidentiality of the
916
documents thereof. Any order directing the release of information
917
is shall be immediately reviewable, and a petition by the office
918
for review of the such order shall automatically stay further
919
proceedings in the trial court or the administrative hearing
920
until the disposition of the such petition by the reviewing
921
court. If any other party files such A petition for review of the
922
order filed by any other party shall, it will operate as a stay
923
of the such proceedings only upon order of the reviewing court.
924
(2)(b) Confidential records and information furnished
925
pursuant to a legislative subpoena must shall be kept
926
confidential by the legislative body or committee which receives
927
the records or information, except in cases a case involving the
928
investigation of charges against a public official subject to
929
impeachment or removal, and then disclosure of such information
930
shall be only to the extent determined to be necessary by the
931
legislative body or committee to be necessary.
932
(3)(2) The commission may prescribe by rule the minimum
933
information that must be shown in the books, accounts, records,
934
and documents of licensees for purposes of enabling the office to
935
determine the licensee's compliance with this chapter. In
936
addition, the commission may prescribe by rule requirements for
937
the destruction of books, accounts, records, and documents
938
retained by the licensee after completion of the time period
939
specified in this subsection. Examination reports, investigatory
940
records, applications, and related information compiled by the
941
office, or photographic copies thereof, must shall be retained by
942
the office for a period of at least 5 3 years after following the
943
date that the examination or investigation ceases to be active.
944
Application records, and related information compiled by the
945
office, or photographic copies thereof, must shall be retained by
946
the office for a period of at least 5 2 years after following the
947
date that the license registration ceases to be active.
948
(3) A copy of any document on file with the office which is
949
certified by the office as being a true copy may be introduced in
950
evidence as if it were the original. The commission shall
951
establish a schedule of fees for preparing true copies of
952
documents.
953
(4) Any person who willfully discloses information made
954
confidential by this section commits a felony of the third
955
degree, punishable as provided in s. 775.082, s. 775.083, or s.
956
775.084.
957
Section 18. Section 560.123, Florida Statutes, is amended
958
to read:
959
560.123 Florida Control of Money Laundering in the Money
960
Services Business Act Transmitters' Code; reports of transactions
961
involving currency or monetary instruments; when required;
962
purpose; definitions; penalties; corpus delicti.--
963
(1) This section may be cited as the "Florida Control of
964
Money Laundering in Money Services Business Transmitters Act."
965
(2) It is The purpose of this section is to require the
966
submission to the office of reports and the maintenance of
967
certain records of transactions involving currency or payment
968
monetary instruments in order to which reports and records deter
969
the use of a money services business money transmitters to
970
conceal proceeds from criminal activity and to ensure the
971
availability of such records for are useful in criminal, tax, or
972
regulatory investigations or proceedings.
973
(3)(a) A Every money services business must transmitter
974
shall keep a record of every each financial transaction occurring
975
in this state known to it which occurs in this state; involves to
976
involve currency or other payment monetary instrument, as
977
prescribed the commission prescribes by rule, having of a value
978
greater than in excess of $10,000; and involves, to involve the
979
proceeds of specified unlawful activity, or is to be designed to
980
evade the reporting requirements of this section or chapter 896.
981
The money services business must and shall maintain appropriate
982
procedures to ensure compliance with this section and chapter
983
896.
984
(a)(b) Multiple financial transactions shall be treated as
985
a single transaction if the money services business transmitter
986
has knowledge that they are made by or on behalf of any one
987
person and result in either cash in or cash out totaling more
988
than $10,000 during any day.
989
(b)(c) A Any money services business transmitter may keep a
990
record of any financial transaction occurring in this state,
991
regardless of the value, if it suspects that the transaction
992
involves the proceeds of specified unlawful activity.
993
(c) The money services business must file a report with the
994
office of any records required by this subsection, at such time
995
and containing such information as required by rule. The timely
996
filing of the report required by 31 U.S.C. s. 5313 with the
997
appropriate federal agency shall be deemed compliance with the
998
reporting requirements of this subsection unless the reports are
999
not regularly and comprehensively transmitted by the federal
1000
agency to the office.
1001
(d) A money services business transmitter, or officer,
1002
employee, or agent thereof, that files a report in good faith
1003
pursuant to this section is not liable to any person for loss or
1004
damage caused in whole or in part by the making, filing, or
1005
governmental use of the report, or any information contained
1006
therein.
1007
(4)(3) A money services business transmitters must comply
1008
with adhere to the money laundering, enforcement, and reporting
1009
provisions of s. 655.50, relating to reports of transactions
1010
involving currency transactions and payment monetary instruments,
1011
and of chapter 896, concerning offenses relating to financial
1012
transactions.
1013
(5)(4) In enforcing this section, the commission and office
1014
shall acknowledge and take into consideration the requirements of
1015
Title 31, United States Code, in order both to reduce the burden
1016
of fulfilling duplicate requirements and to acknowledge the
1017
economic advantage of having similar reporting and recordkeeping
1018
requirements between state and federal regulatory authorities.
1019
(5)(a) Each money transmitter must file a report with the
1020
office of the record required by this section. Each record filed
1021
pursuant to this section must be filed at such time and contain
1022
such information as the commission requires by rule.
1023
(b) The timely filing of the report required by 31 U.S.C.
1024
s. 5313, with the appropriate federal agency is deemed compliance
1025
with the reporting requirements of this subsection unless the
1026
reports are not regularly and comprehensively transmitted by the
1027
federal agency to the office.
1028
(6) The office must retain a copy of all reports received
1029
under subsection (3) (5) for a minimum of 5 3 calendar years
1030
after receipt of the report. However, if a report or information
1031
contained in a report is known by the office to be the subject of
1032
an existing criminal proceeding, the report must be retained for
1033
a minimum of 10 calendar years after from the date of receipt.
1034
(7) In addition to any other powers conferred upon the
1035
office to enforce and administer this chapter the code, the
1036
office may:
1037
(a) Bring an action in any court of competent jurisdiction
1038
to enforce or administer this section. In such action, the office
1039
may seek award of any civil penalty authorized by law and any
1040
other appropriate relief at law or equity.
1041
(b) Issue and serve upon a person an order requiring the
1042
such person to cease and desist and take corrective action if
1043
whenever the office finds that the such person is violating, has
1044
violated, or is about to violate any provision of this section or
1045
chapter 896; any rule or order adopted under this section or
1046
chapter 896; or any written agreement related to this section or
1047
chapter 896 which is entered into with the office.
1048
(c) Issue and serve upon a person an order suspending or
1049
revoking the such person's money services business license if
1050
transmitter registration whenever the office finds that the such
1051
person is violating, has violated, or is about to violate any
1052
provision of this section or chapter 896; any rule or order
1053
adopted under this section or chapter 896; or any written
1054
agreement related to this section or chapter 896 which is entered
1055
into with the office.
1056
(d) Issue and serve upon any person an order of removal
1057
whenever the office finds that the such person is violating, has
1058
violated, or is about to violate any provision of this section or
1059
chapter 896; any rule or order adopted under this section or
1060
chapter 896; or any written agreement related to this section or
1061
chapter 896 which is entered into with the office.
1062
(e) Impose and collect an administrative fine against any
1063
person found to have violated any provision of this section or
1064
chapter 896; any rule or order adopted under this section or
1065
chapter 896; or any written agreement related to this section or
1066
chapter 896 which is entered into with the office, of up to in an
1067
amount not exceeding $10,000 per a day for each willful violation
1068
or $500 per a day for each negligent violation.
1069
(8)(a) Except as provided in paragraph (b), a person who
1070
willfully violates any provision of this section commits a
1071
misdemeanor of the first degree, punishable as provided in s.
1072
775.082 or s. 775.083.
1073
(b) A person who willfully violates any provision of this
1074
section, if the violation involves:
1075
1. Currency or payment instruments exceeding $300 but less
1076
than $20,000 in any 12-month period, commits a felony of the
1077
third degree, punishable as provided in s. 775.082, s. 775.083,
1078
or s. 775.084.
1079
2. Currency or payment instruments totaling or exceeding
1080
$20,000 but less than $100,000 in any 12-month period, commits a
1081
felony of the second degree, punishable as provided in s.
1082
775.082, s. 775.083, or s. 775.084.
1083
3. Currency or payment instruments totaling or exceeding
1084
$100,000 in any 12-month period, commits a felony of the first
1085
degree, punishable as provided in s. 775.082, s. 775.083, or s.
1086
775.084.
1087
(c) In addition to the penalties otherwise authorized by s.
1088
775.082, s. 775.083, or s. 775.084, a person who has been
1089
convicted of, or entered a plea of who has pleaded guilty or nolo
1090
contendere, regardless of adjudication, to having violated
1091
paragraph (b) may be sentenced to pay a fine of up to not
1092
exceeding $250,000 or twice the value of the currency or payment
1093
instruments, whichever is greater, except that on a second or
1094
subsequent conviction for or plea of guilty or nolo contendere,
1095
regardless of adjudication, to a violation of paragraph (b), the
1096
fine may be up to $500,000 or quintuple the value of the currency
1097
or payment instruments, whichever is greater.
1098
(d) A person who violates this section is also liable for a
1099
civil penalty of not more than the greater of the value of the
1100
currency or payment instruments involved or $25,000.
1101
(9) In any prosecution brought pursuant to this section,
1102
the common law corpus delicti rule does not apply. The
1103
defendant's confession or admission is admissible during trial
1104
without the state having to prove the corpus delicti if the court
1105
finds in a hearing conducted outside the presence of the jury
1106
that the defendant's confession or admission is trustworthy.
1107
Before the court admits the defendant's confession or admission,
1108
the state must prove by a preponderance of the evidence that
1109
there is sufficient corroborating evidence that tends to
1110
establish the trustworthiness of the statement by the defendant.
1111
Hearsay evidence is admissible during the presentation of
1112
evidence at the hearing. In making its determination, the court
1113
may consider all relevant corroborating evidence, including the
1114
defendant's statements.
1115
Section 19. Section 560.1235, Florida Statutes, is created
1116
to read:
1117
560.1235 Anti-money laundering requirements.--
1118
(1) A licensee and authorized vendor must comply with all
1119
state and federal laws and rules relating to the detection and
1120
prevention of money laundering, including, as applicable, s.
1121
560.123, and 31 C.F.R. ss. 103.20, 103.22, 103.23, 103.27.
1122
103.28, 103.29, 103.33, 103.37, and 103.41.
1123
(2) A licensee and authorized vendor must maintain an anti-
1124
money laundering program in accordance with 31 C.F.R. s. 103.125.
1125
The program must be reviewed and updated as necessary to ensure
1126
that the program continues to be effective in detecting and
1127
deterring money laundering activities.
1128
(3) A licensee must comply with United States Treasury
1129
Interpretive Release 2004-1.
1130
Section 20. Section 560.124, Florida Statutes, is amended
1131
to read:
1132
560.124 Sharing of information.--
1133
(1) It is not unlawful for Any person may to provide
1134
information to a money services business transmitter, authorized
1135
vendor, law enforcement agency, prosecutorial agency, or
1136
appropriate regulator, or for any money services business
1137
transmitter, authorized vendor, law enforcement agency,
1138
prosecutorial agency, or appropriate regulator may to provide
1139
information to any person, information about any other person's
1140
known or suspected involvement in a violation of any state,
1141
federal, or foreign law, rule, or regulation relating to the
1142
business of a money services business or deferred present
1143
provider transmitter which has been reported to state, federal,
1144
or foreign authorities, and is not.
1145
(2) No person shall be liable in any civil action for
1146
providing such information.
1147
Section 21. Section 560.125, Florida Statutes, is amended
1148
to read:
1149
560.125 Unlicensed activity Money transmitter business by
1150
unauthorized persons; penalties.--
1151
(1) A person other than a registered money transmitter or
1152
authorized vendor may not engage in the business of a money
1153
services business or deferred presentment provider transmitter in
1154
this state unless the person is licensed or exempted from
1155
licensure under this chapter from the registration requirements
1156
of the code.
1157
(2) Only a money services business licensed under part II
1158
of this chapter may appoint an authorized vendor. No person shall
1159
act as a vendor of a money transmitter when such money
1160
transmitter is subject to registration under the code but has not
1161
registered. Any such person acting as a vendor for an unlicensed
1162
money transmitter or payment instrument issuer becomes the
1163
principal thereof, and no longer merely acts as a vendor, and
1164
such person is liable to the holder or remitter as a principal
1165
money transmitter or payment instrument seller.
1166
(3) Any person whose substantial interests are affected by
1167
a proceeding brought by the office pursuant to this chapter the
1168
code may, pursuant to s. 560.113, petition any court of competent
1169
jurisdiction to enjoin the person or activity that is the subject
1170
of the proceeding from violating any of the provisions of this
1171
section. For the purpose of this subsection, any money services
1172
business licensed under this chapter transmitter registered
1173
pursuant to the code, any person residing in this state, and any
1174
person whose principal place of business is in this state are
1175
presumed to be substantially affected. In addition, the interests
1176
of a trade organization or association are deemed substantially
1177
affected if the interests of any of its members are so affected.
1178
(4) The office may issue and serve upon any person who
1179
violates any of the provisions of this section a complaint
1180
seeking a cease and desist order or impose an administrative fine
1181
as provided in s. 560.114 in accordance with the procedures and
1182
in the manner prescribed by s. 560.112. The office may also
1183
impose an administrative fine pursuant to s. 560.117(3) against
1184
any person who violates any of the provisions of this section.
1185
(5) A person who violates this section, if the violation
1186
involves:
1187
(a) Currency or payment instruments exceeding $300 but less
1188
than $20,000 in any 12-month period, commits a felony of the
1189
third degree, punishable as provided in s. 775.082, s. 775.083,
1190
or s. 775.084.
1191
(b) Currency or payment instruments totaling or exceeding
1192
$20,000 but less than $100,000 in any 12-month period, commits a
1193
felony of the second degree, punishable as provided in s.
1194
775.082, s. 775.083, or s. 775.084.
1195
(c) Currency or payment instruments totaling or exceeding
1196
$100,000 in any 12-month period, commits a felony of the first
1197
degree, punishable as provided in s. 775.082, s. 775.083, or s.
1198
775.084.
1199
(6) In addition to the penalties authorized by s. 775.082,
1200
s. 775.083, or s. 775.084, a person who has been convicted of, or
1201
entered a plea of found guilty of or who has pleaded guilty or
1202
nolo contendere, to having violated this section may be sentenced
1203
to pay a fine of up to not exceeding $250,000 or twice the value
1204
of the currency or payment instruments, whichever is greater,
1205
except that on a second or subsequent violation of this section,
1206
the fine may be up to $500,000 or quintuple the value of the
1207
currency or payment instruments, whichever is greater.
1208
(7) A person who violates this section is also liable for a
1209
civil penalty of not more than the value of the currency or
1210
payment instruments involved or $25,000, whichever is greater.
1211
(8) In any prosecution brought pursuant to this section,
1212
the common law corpus delicti rule does not apply. The
1213
defendant's confession or admission is admissible during trial
1214
without the state having to prove the corpus delicti if the court
1215
finds in a hearing conducted outside the presence of the jury
1216
that the defendant's confession or admission is trustworthy.
1217
Before the court admits the defendant's confession or admission,
1218
the state must prove by a preponderance of the evidence that
1219
there is sufficient corroborating evidence that tends to
1220
establish the trustworthiness of the statement by the defendant.
1221
Hearsay evidence is admissible during the presentation of
1222
evidence at the hearing. In making its determination, the court
1223
may consider all relevant corroborating evidence, including the
1224
defendant's statements.
1225
Section 22. Section 560.126, Florida Statutes, is amended
1226
to read:
1227
560.126 Significant events; notice Required notice by
1228
licensee.--
1229
(1) A licensee Unless exempted by the office, every money
1230
transmitter must provide the office with a written notice sent by
1231
registered mail within 30 days after the occurrence or knowledge
1232
of, whichever period of time is greater, any of the following
1233
events:
1234
(a) The filing of a petition under the United States
1235
Bankruptcy Code for bankruptcy or reorganization by the licensee
1236
money transmitter.
1237
(b) The commencement of an administrative or judicial
1238
license any registration suspension or revocation proceeding,
1239
either administrative or judicial, or the denial of a license any
1240
original registration request or a registration renewal, by any
1241
state, the District of Columbia, any United States territory, or
1242
any foreign country, in which the licensee money transmitter
1243
operates, or plans to operate, or is licensed or has registered
1244
to operate.
1245
(c) A felony indictment relating to a the money services
1246
transmission business or deferred presentment provider involving
1247
the licensee, its authorized vendor, or an affiliated money
1248
transmitter or a money transmitter-affiliated party of the money
1249
transmitter.
1250
(d) The felony conviction, guilty plea, or plea of nolo
1251
contendere, regardless of adjudication, of the licensee, its
1252
authorized vendor, or an affiliated if the court adjudicates the
1253
nolo contendere pleader guilty, or the adjudication of guilt of a
1254
money transmitter or money transmitter-affiliated party.
1255
(e) The interruption of any corporate surety bond required
1256
under this chapter by the code.
1257
(f) Any suspected criminal act, as defined by the
1258
commission by rule, perpetrated in this state relating to
1259
activities regulated under this chapter by an affiliated party
1260
against a money services business transmitter or authorized
1261
vendor.
1262
(g) Notification by a law enforcement or prosecutorial
1263
agency that the licensee or its authorized vendor is under
1264
criminal investigation including, but not limited to, subpoenas
1265
to produce records or testimony and warrants issued by a court of
1266
competent jurisdiction which authorize the search and seizure of
1267
any records relating to a business activity regulated under this
1268
chapter.
1269
1270
However, a person does not incur liability as a result of making
1271
a good faith effort to fulfill this disclosure requirement.
1272
(2)(a) A licensee must Each registrant under this code
1273
shall report, on a form adopted prescribed by rule of the
1274
commission, any change in the information contained in an any
1275
initial license application form, or any amendment to such
1276
application, or the appointment of an authorized vendor within
1277
thereto not later than 30 days after the change is effective.
1278
(3)(b) Each licensee must registrant under the code shall
1279
report any change changes in the partners, officers, members,
1280
joint venturers, directors, controlling shareholders, or
1281
responsible persons of the licensee any registrant or changes in
1282
the form of business organization by written amendment in such
1283
form and at such time as specified the commission specifies by
1284
rule.
1285
(a)1. If In any case in which a person or a group of
1286
persons, directly or indirectly or acting by or through one or
1287
more persons, proposes to purchase or acquire a controlling
1288
interest in a licensee, such person or group must submit an
1289
initial application for licensure registration as a money
1290
services business or deferred presentment provider transmitter
1291
before such purchase or acquisition at such time and in such form
1292
as prescribed the commission prescribes by rule.
1293
2. As used in this subsection, the term "controlling
1294
interest" means the same as described in s. 560.127 possession of
1295
the power to direct or cause the direction of the management or
1296
policies of a company whether through ownership of securities, by
1297
contract, or otherwise. Any person who directly or indirectly has
1298
the right to vote 25 percent or more of the voting securities of
1299
a company or is entitled to 25 percent or more of its profits is
1300
presumed to possess a controlling interest.
1301
(b)3. The Any addition of a partner, officer, member, joint
1302
venturer, director, controlling shareholder, or responsible
1303
person of the applicant who does not have a controlling interest
1304
and who has not previously complied with the applicable
1305
provisions of ss. 560.140 and 560.141 is ss. 560.205 and 560.306
1306
shall be subject to such provisions unless required to file an
1307
initial application in accordance with subparagraph 1. If the
1308
office determines that the licensee registrant does not continue
1309
to meet the licensure registration requirements, the office may
1310
bring an administrative action in accordance with s. 560.114 to
1311
enforce the provisions of this chapter code.
1312
(c)4. The commission shall adopt rules pursuant to ss.
1313
120.536(1) and 120.54 providing for the waiver of the license
1314
application required by this subsection if the person or group of
1315
persons proposing to purchase or acquire a controlling interest
1316
in a licensee registrant has previously complied with the
1317
applicable provisions of ss. 560.140 and 560.141 under ss.
1318
560.205 and 560.306 with the same legal entity or is currently
1319
licensed registered with the office under this chapter code.
1320
Section 23. Section 560.127, Florida Statutes, is amended
1321
to read:
1322
560.127 Control of a money services business
1323
transmitter.--A person has a controlling interest in control over
1324
a money services business transmitter if the person:
1325
(1) The individual, partnership, corporation, trust, or
1326
other organization Possesses the power, directly or indirectly,
1327
to direct the management or policies of the money services
1328
business a company, whether through ownership of securities, by
1329
contract, or otherwise;. A person is presumed to control a
1330
company if, with respect to a particular company, that person:
1331
(a) Is a director, general partner, or officer exercising
1332
executive responsibility or having similar status or functions;
1333
(2)(b) Directly or indirectly may vote 25 percent or more
1334
of a class of a voting security or sell or direct the sale of 25
1335
percent or more of a class of voting securities; or
1336
(3)(c) In the case of a partnership, may receive upon
1337
dissolution or has contributed 25 percent or more of the capital.
1338
(2) The office determines, after notice and opportunity for
1339
hearing, that the person directly or indirectly exercises a
1340
controlling influence over the activities of the money
1341
transmitter.
1342
Section 24. Section 560.128, Florida Statutes, is amended
1343
to read:
1344
560.128 Customer contacts; license display Consumer
1345
disclosure.--
1346
(1) A money services business and authorized vendor must
1347
provide each customer with Every money transmitter and authorized
1348
vendor shall provide each consumer of a money transmitter
1349
transaction a toll-free telephone number for the purpose of
1350
contacting the money services business or authorized vendor or,
1351
consumer contacts; However, in lieu of a such toll-free telephone
1352
number, the money transmitter or authorized vendor may provide
1353
the address and telephone number of the office may be provided
1354
and the Division of Consumer Services of the Department of
1355
Financial Services.
1356
(2) The commission may by rule require a licensee every
1357
money transmitter to display its license registration at each
1358
location, including the location of each person designated by the
1359
registrant as an authorized vendor, where the licensee the money
1360
transmitter engages in the activities authorized by the license
1361
registration.
1362
Section 25. Section 560.129, Florida Statutes, is amended
1363
to read:
1364
560.129 Confidentiality.--
1365
(1)(a) Except as otherwise provided in this section, all
1366
information concerning an investigation or examination conducted
1367
by the office pursuant to this chapter, including any customer
1368
consumer complaint received by the office or the Department of
1369
Financial Services, is confidential and exempt from s. 119.07(1)
1370
and s. 24(a), Art. I of the State Constitution until the
1371
investigation or examination ceases to be active. For purposes of
1372
this section, an investigation or examination is considered
1373
"active" so long as the office or any other administrative,
1374
regulatory, or law enforcement agency of any jurisdiction is
1375
proceeding with reasonable dispatch and has a reasonable good
1376
faith belief that action may be initiated by the office or other
1377
administrative, regulatory, or law enforcement agency.
1378
(2)(b) Notwithstanding paragraph (a), All information
1379
obtained by the office in the course of its investigation or
1380
examination which is a trade secret, as defined in s. 688.002, or
1381
which is personal financial information shall remain confidential
1382
and exempt from s. 119.07(1) and s. 24(a), Art. I of the State
1383
Constitution. If any administrative, civil, or criminal
1384
proceeding against a the money services business, its authorized
1385
vendor, transmitter or an affiliated a money transmitter-
1386
affiliated party is initiated and the office seeks to use matter
1387
that a licensee registrant believes to be a trade secret or
1388
personal financial information, such records shall be subject to
1389
an in camera review by the administrative law judge, if the
1390
matter is before the Division of Administrative Hearings, or a
1391
judge of any court of this state, any other state, or the United
1392
States, as appropriate, for the purpose of determining if the
1393
matter is a trade secret or is personal financial information. If
1394
it is determined that the matter is a trade secret, the matter
1395
shall remain confidential. If it is determined that the matter is
1396
personal financial information, the matter shall remain
1397
confidential unless the administrative law judge or judge
1398
determines that, in the interests of justice, the matter should
1399
become public.
1400
(3)(c) If an any administrative, civil, or criminal
1401
proceeding against a the money services business, its authorized
1402
vendor, transmitter or an affiliated a money transmitter-
1403
affiliated party results in an acquittal or the dismissal of all
1404
of the allegations against the money transmitter or a money
1405
transmitter-affiliated party, upon the request of any party, the
1406
administrative law judge or the judge may order all or a portion
1407
of the record of the proceeding to be sealed, and it shall
1408
thereafter be confidential and exempt from s. 119.07(1) and s.
1409
24(a), Art. I of the State Constitution.
1410
(4)(d) Except as necessary for the office or any other
1411
administrative, regulatory, or law enforcement agency of any
1412
jurisdiction to enforce the provisions of this chapter or the law
1413
of any other state or the United States, a consumer complaint and
1414
other information concerning an investigation or examination
1415
shall remain confidential and exempt from s. 119.07(1) and s.
1416
24(a), Art. I of the State Constitution after the investigation
1417
or examination ceases to be active to the extent that disclosure
1418
would:
1419
(a)1. Jeopardize the integrity of another active
1420
investigation;
1421
(b)2. Reveal personal financial information;
1422
(c)3. Reveal the identity of a confidential source; or
1423
(d)4. Reveal investigative techniques or procedures.
1424
(5)(2) This section does not prevent or restrict:
1425
(a) Furnishing records or information to any appropriate
1426
regulatory, prosecutorial, agency or law enforcement agency if
1427
such agency adheres to the confidentiality provisions of this
1428
chapter the code;
1429
(b) Furnishing records or information to an appropriate
1430
regulator or independent third party or a certified public
1431
accountant who has been approved by the office to conduct an
1432
examination under s. 560.1091 s. 560.118(1)(b), if the
1433
independent third party or certified public accountant adheres to
1434
the confidentiality provisions of this chapter the code; or
1435
(c) Reporting any suspicious suspected criminal activity,
1436
with supporting documents and information, to appropriate
1437
regulatory, law enforcement, or prosecutorial agencies.
1438
(6)(3) All quarterly reports submitted by a money
1439
transmitter to the office under s. 560.118(2) s. 560.118(2)(b)
1440
are confidential and exempt from s. 119.07(1) and s. 24(a), Art.
1441
I of the State Constitution.
1442
(4) Examination reports, investigatory records,
1443
applications, and related information compiled by the office, or
1444
photographic copies thereof, shall be retained by the office for
1445
a period of at least 3 years following the date that the
1446
examination or investigation ceases to be active. Application
1447
records, and related information compiled by the office, or
1448
photographic copies thereof, shall be retained by the office for
1449
a period of at least 2 years following the date that the
1450
registration ceases to be active.
1451
(7)(5) Any person who willfully discloses information made
1452
confidential by this section commits a felony of the third
1453
degree, punishable as provided in s. 775.082 or s. 775.083.
1454
Section 26. Section 560.140, Florida Statutes, is created
1455
to read:
1456
560.140 Licensing standards.--To qualify for licensure as a
1457
money services business under this chapter, an applicant must:
1458
(1) Demonstrate to the office the character and general
1459
fitness necessary to command the confidence of the public and
1460
warrant the belief that the money services business or deferred
1461
presentment provider shall be operated lawfully and fairly.
1462
(2) Be legally authorized to do business in this state.
1463
(3) Be registered as a money services business with the
1464
Financial Crimes Enforcement Network as required by 31 C.F.R. s.
1465
103.41, if applicable.
1466
(4) Have an anti-money laundering program in place which
1467
meets the requirements of 31 C.F.R. s. 103.125.
1468
(5) Provide the office with all the information required
1469
under this chapter and related rules.
1470
Section 27. Section 560.141, Florida Statutes, is created
1471
to read:
1472
560.141 License application.--
1473
(1) To apply for a license as a money services business
1474
under this chapter the applicant must:
1475
(a) Submit an application to the office on forms prescribed
1476
by rule which includes the following information:
1477
1. The legal name and address of the applicant, including
1478
any fictitious or trade names used by the applicant in the
1479
conduct of its business.
1480
2. The date of the applicant's formation and the state in
1481
which the applicant was formed, if applicable.
1482
3. The name, social security number, alien identification
1483
or taxpayer identification number, business and residence
1484
addresses, and employment history for the past 5 years for each
1485
officer, director, responsible person, the compliance officer,
1486
each controlling shareholder, any other person who has a
1487
controlling interest in the money services business as provided
1488
in s. 560.127.
1489
4. A description of the organizational structure of the
1490
applicant, including the identity of any parent or subsidiary of
1491
the applicant, and the disclosure of whether any parent or
1492
subsidiary is publicly traded.
1493
5. The applicant's history of operations in other states if
1494
applicable and a description of the money services business or
1495
deferred presentment provider activities proposed to be conducted
1496
by the applicant in this state.
1497
6. If the applicant or its parent is a publicly traded
1498
company, copies of all filings made by the applicant with the
1499
United States Securities and Exchange Commission, or with a
1500
similar regulator in a country other than the United States,
1501
within the preceding year.
1502
7. The location at which the applicant proposes to
1503
establish its principal place of business and any other location,
1504
including branch offices and authorized vendors operating in this
1505
state. For each branch office identified and each authorized
1506
vendor appointed, the applicant shall include the nonrefundable
1507
fee required by s. 560.143.
1508
8. The name and address of the clearing financial
1509
institution or financial institutions through which the
1510
applicant's payment instruments are drawn or through which the
1511
payment instruments are payable.
1512
8. The history of the applicant's material litigation,
1513
criminal convictions, pleas of nolo contendere, and cases of
1514
adjudication withheld.
1515
9. The history of material litigation, arrests, criminal
1516
convictions, pleas of nolo contendere, and cases of adjudication
1517
withheld for each executive officer, director, controlling
1518
shareholder, and responsible person.
1519
10. The name of the registered agent in this state for
1520
service of process unless the applicant is a sole proprietor.
1521
11. Any other information specified in this chapter or by
1522
rule.
1523
(b) In addition to the application form, submit:
1524
1. A nonrefundable application fee as provided in s.
1525
560.143.
1526
2. A fingerprint card for each of the persons listed in
1527
subparagraph (a)3. unless the applicant is a publicly traded
1528
corporation, or is exempted from this chapter under s.
1529
560.104(1). The fingerprints must be taken by an authorized law
1530
enforcement agency. The office shall submit the fingerprints to
1531
the Department of Law Enforcement for state processing and the
1532
Department of Law Enforcement shall forward the fingerprints to
1533
the Federal Bureau of Investigations for federal processing. The
1534
cost of the fingerprint processing may be borne by the office,
1535
the employer, or the person subject to the criminal records
1536
background check. The office shall screen the background results
1537
to determine if the applicant meets licensure requirements. As
1538
used in this section, the term "publicly traded" means a stock is
1539
currently traded on a national securities exchange registered
1540
with the federal Securities and Exchange Commission or traded on
1541
an exchange in a country other than the United States regulated
1542
by a regulator equivalent to the Securities and Exchange
1543
Commission and the disclosure and reporting requirements of such
1544
regulator are substantially similar to those of the commission.
1545
3. A copy of the applicant's written anti-money laundering
1546
program required under 31 C.F.R. s. 103.125.
1547
4. Within the time allotted by rule, any information needed
1548
to resolve any deficiencies found in the application.
1549
(2) If the office determines that the applicant meets the
1550
qualifications and requirements of this chapter, the office shall
1551
issue a license to the applicant. A license may not be issued for
1552
more than 2 years.
1553
(a) A license issued under part II of this chapter shall
1554
expire on April 30 of the second year following the date of
1555
issuance of the license unless during such period the license is
1556
surrendered, suspended, or revoked.
1557
(b) A license issued under part III of this chapter shall
1558
expire on December 31 of the second year following the date of
1559
issuance of the license unless during such period the license is
1560
surrendered, suspended, or revoked.
1561
Section 28. Section 560.142, Florida Statutes, is created
1562
to read:
1563
560.142 License renewal.--
1564
(1) A license may be renewed for a subsequent 2-year period
1565
by furnishing such application as required by rule, together with
1566
the payment of a nonrefundable renewal fee as provided under s.
1567
560.143, on or before the license expiration date, or for the
1568
remainder of any such period without proration following the date
1569
of license expiration.
1570
(2) In addition to the renewal fee, each part II licensee
1571
must pay a 2-year nonrefundable renewal fee as provided in s.
1572
560.143 for each authorized vendor or location operating within
1573
this state.
1574
(3) A licensee who has on file with the office a
1575
declaration of intent to engage in deferred presentment
1576
transactions may renew a declaration upon license renewal by
1577
submitting a nonrefundable deferred presentment provider renewal
1578
fee as provided in s. 560.143.
1579
(4) If a license or declaration of intent to engage in
1580
deferred presentment transactions expires, the license or
1581
declaration of intent may be reinstated only if a renewal
1582
application or declaration of intent, all required renewal fees,
1583
and any applicable late fees are received by the office within 60
1584
days after expiration. If not submitted within 60 days, the
1585
license or declaration on intent expires and a new license
1586
application or declaration of intent must be filed with the
1587
office pursuant to this chapter.
1588
(5) The commission may adopt rules to administer this
1589
section.
1590
Section 29. Section 560.143, Florida Statutes, is created
1591
to read:
1592
560.143 Fees.--
1593
(1) LICENSE APPLICATION FEES.--The applicable non-
1594
refundable fees must accompany an application for licensure:
1595
(a) Under part II $500.
1596
(b) Part III $250.
1597
(c) Per branch office $50.
1598
(d) For each appointment of an authorized vendor $50.
1599
(e) Declaration as a deferred presentment provider $1,000.
1600
(f) Fingerprint fees as prescribed by rule.
1601
(2) LICENSE RENEWAL FEES.--The applicable non-refundable
1602
license renewal fees must accompany a renewal of licensure:
1603
(a) Part II 1,000.
1604
(b) Part III $500.
1605
(c) Per branch office $50.
1606
(d) For each appointment of an authorized vendors $50.
1607
(e) Declaration as a deferred presentment provider $1,000.
1608
(f) Renewal fees for branch offices and authorized vendors
1609
are limited to $20,000 biennially.
1610
(3) LATE LICENSE RENEWAL FEES.--
1611
(a) Part II $500.
1612
(b) Part III $250.
1613
(c) Declaration as a deferred presentment provider $500.
1614
Section 30. Section 560.203, Florida Statutes, is amended
1615
to read:
1616
560.203 Exemptions from licensure.--Authorized vendors of a
1617
licensee registrant acting within the scope of authority
1618
conferred by the licensee are registrant shall be exempt from
1619
licensure but are having to register pursuant to the code but
1620
shall otherwise be subject to the its provisions of this chapter.
1621
Section 31. Section 560.204, Florida Statutes, is amended
1622
to read:
1623
560.204 License required Requirement of registration.--
1624
(1) Unless exempted, a No person may not shall engage in
1625
for consideration, or nor in any manner advertise that they
1626
engage, in, the selling or issuing of payment instruments or in
1627
the activity of a money funds transmitter, for compensation,
1628
without first obtaining a license registration under the
1629
provisions of this part. For purposes of this section,
1630
"compensation" includes profit or loss on the exchange of
1631
currency.
1632
(2) A licensee under this part person registered pursuant
1633
to this part is permitted to engage in the activities authorized
1634
by this part. A person registered pursuant to this part may also
1635
engage in the activities authorized under part III of this
1636
chapter without the imposition of any additional licensing fees
1637
and is exempt from the registration fee required by s. 560.307.
1638
Section 32. Section 560.205, Florida Statutes, is amended
1639
to read:
1640
560.205 Additional license application requirements
1641
Qualifications of applicant for registration; contents.--In
1642
addition to the license application requirements under part I of
1643
this chapter, an applicant seeking a license under this part must
1644
also submit to the office:
1645
(1) A sample authorized vendor contract, if applicable.
1646
(2) A sample form of payment instrument, if applicable.
1647
(3) Documents demonstrating that the net worth and bonding
1648
requirements specified in s. 560.209 have been fulfilled.
1649
(4) A copy of the applicant's financial audit report for
1650
the most recent fiscal year. If the applicant is a wholly owned
1651
subsidiary of another corporation, the financial audit report on
1652
the parent corporation's financial statements shall satisfy this
1653
requirement.
1654
(1) To qualify for registration under this part, an
1655
applicant must demonstrate to the office such character and
1656
general fitness as to command the confidence of the public and
1657
warrant the belief that the registered business will be operated
1658
lawfully and fairly. The office may investigate each applicant to
1659
ascertain whether the qualifications and requirements prescribed
1660
by this part have been met. The office's investigation may
1661
include a criminal background investigation of all controlling
1662
shareholders, principals, officers, directors, members, and
1663
responsible persons of a funds transmitter and a payment
1664
instrument seller and all persons designated by a funds
1665
transmitter or payment instrument seller as an authorized vendor.
1666
Each controlling shareholder, principal, officer, director,
1667
member, and responsible person of a funds transmitter or payment
1668
instrument seller, unless the applicant is a publicly traded
1669
corporation as defined by the commission by rule, a subsidiary
1670
thereof, or a subsidiary of a bank or bank holding company
1671
organized and regulated under the laws of any state or the United
1672
States, shall file a complete set of fingerprints. A fingerprint
1673
card submitted to the office must be taken by an authorized law
1674
enforcement agency. The office shall submit the fingerprints to
1675
the Department of Law Enforcement for state processing, and the
1676
Department of Law Enforcement shall forward the fingerprints to
1677
the Federal Bureau of Investigation for state and federal
1678
processing. The cost of the fingerprint processing may be borne
1679
by the office, the employer, or the person subject to the
1680
background check. The Department of Law Enforcement shall submit
1681
an invoice to the office for the fingerprints received each
1682
month. The office shall screen the background results to
1683
determine if the applicant meets licensure requirements. The
1684
commission may waive by rule the requirement that applicants file
1685
a set of fingerprints or the requirement that such fingerprints
1686
be processed by the Department of Law Enforcement or the Federal
1687
Bureau of Investigation.
1688
(2) Each application for registration must be submitted
1689
under oath to the office on such forms as the commission
1690
prescribes by rule and must be accompanied by a nonrefundable
1691
application fee. Such fee may not exceed $500 for each payment
1692
instrument seller or funds transmitter and $50 for each
1693
authorized vendor or location operating within this state. The
1694
application must contain such information as the commission
1695
requires by rule, including, but not limited to:
1696
(a) The name and address of the applicant, including any
1697
fictitious or trade names used by the applicant in the conduct of
1698
its business.
1699
(b) The history of the applicant's material litigation,
1700
criminal convictions, pleas of nolo contendere, and cases of
1701
adjudication withheld.
1702
(c) A description of the activities conducted by the
1703
applicant, the applicant's history of operations, and the
1704
business activities in which the applicant seeks to engage in
1705
this state.
1706
(d) A sample authorized vendor contract, if applicable.
1707
(e) A sample form of payment instrument, if applicable.
1708
(f) The name and address of the clearing financial
1709
institution or financial institutions through which the
1710
applicant's payment instruments will be drawn or through which
1711
such payment instruments will be payable.
1712
(g) Documents revealing that the net worth and bonding
1713
requirements specified in s. 560.209 have been or will be
1714
fulfilled.
1715
(3) Each application for registration by an applicant that
1716
is a corporation shall contain such information as the commission
1717
requires by rule, including, but not limited to:
1718
(a) The date of the applicant's incorporation and state of
1719
incorporation.
1720
(b) A certificate of good standing from the state or
1721
country in which the applicant was incorporated.
1722
(c) A description of the corporate structure of the
1723
applicant, including the identity of any parent or subsidiary of
1724
the applicant, and the disclosure of whether any parent or
1725
subsidiary is publicly traded on any stock exchange.
1726
(d) The name, social security number, business and
1727
residence addresses, and employment history for the past 5 years
1728
for each executive officer, each director, each controlling
1729
shareholder, and the responsible person who will be in charge of
1730
all the applicant's business activities in this state.
1731
(e) The history of material litigation and criminal
1732
convictions, pleas of nolo contendere, and cases of adjudication
1733
withheld for each officer, each director, each controlling
1734
shareholder, and the responsible person who will be in charge of
1735
the applicant's registered activities.
1736
(f) Copies of the applicant's audited financial statements
1737
for the current year and, if available, for the immediately
1738
preceding 2-year period. In cases where the applicant is a wholly
1739
owned subsidiary of another corporation, the parent's
1740
consolidated audited financial statements may be submitted to
1741
satisfy this requirement. An applicant who is not required to
1742
file audited financial statements may satisfy this requirement by
1743
filing unaudited financial statements verified under penalty of
1744
perjury, as provided by the commission by rule.
1745
(g) An applicant who is not required to file audited
1746
financial statements may file copies of the applicant's
1747
unconsolidated, unaudited financial statements for the current
1748
year and, if available, for the immediately preceding 2-year
1749
period.
1750
(h) If the applicant is a publicly traded company, copies
1751
of all filings made by the applicant with the United States
1752
Securities and Exchange Commission, or with a similar regulator
1753
in a country other than the United States, within the year
1754
preceding the date of filing of the application.
1755
(4) Each application for registration submitted to the
1756
office by an applicant that is not a corporation shall contain
1757
such information as the commission requires by rule, including,
1758
but not limited to:
1759
(a) Evidence that the applicant is registered to do
1760
business in this state.
1761
(b) The name, business and residence addresses, personal
1762
financial statement and employment history for the past 5 years
1763
for each individual having a controlling ownership interest in
1764
the applicant, and each responsible person who will be in charge
1765
of the applicant's registered activities.
1766
(c) The history of material litigation and criminal
1767
convictions, pleas of nolo contendere, and cases of adjudication
1768
withheld for each individual having a controlling ownership
1769
interest in the applicant and each responsible person who will be
1770
in charge of the applicant's registered activities.
1771
(d) Copies of the applicant's audited financial statements
1772
for the current year, and, if available, for the preceding 2
1773
years. An applicant who is not required to file audited financial
1774
statements may satisfy this requirement by filing unaudited
1775
financial statements verified under penalty of perjury, as
1776
provided by the commission by rule.
1777
(5) Each applicant shall designate and maintain an agent in
1778
this state for service of process.
1779
Section 33. Effective January 1, 2009, section 560.208,
1780
Florida Statutes, is amended to read:
1781
560.208 Conduct of business.--In addition to the
1782
requirements specified in s. 560.140, a licensee under this part:
1783
(1) A registrant May conduct its business at one or more
1784
locations within this state through branches or by means of
1785
authorized vendors, as designated by the licensee registrant,
1786
including the conduct of business through electronic transfer,
1787
such as by the telephone or the Internet.
1788
(2) Notwithstanding and without violating s. 501.0117, a
1789
registrant may charge a different price for a money transmitter
1790
funds transmission service based on the mode of transmission used
1791
in the transaction as, so long as the price charged for a service
1792
paid for with a credit card is not more greater than the price
1793
charged when the that service is paid for with currency or other
1794
similar means accepted within the same mode of transmission.
1795
(3) Is responsible for the acts of its authorized vendors
1796
in accordance with the terms of its written contract with the
1797
vendor.
1798
(4) Shall place assets that are the property of a customer
1799
in a segregated account in a federally insured financial
1800
institution and shall maintain separate accounts for operating
1801
capital and the clearing of customer funds.
1802
(5) Shall, in the normal course of business, ensure that
1803
money transmitted is available to the designated recipient within
1804
10 business days after receipt.
1805
(6) Shall immediately upon receipt of currency or payment
1806
instrument provide a confirmation or sequence number to the
1807
customer verbally, by paper, or electronically.
1808
(2) Within 60 days after the date a registrant either opens
1809
a location within this state or authorizes an authorized vendor
1810
to operate on the registrant's behalf within this state, the
1811
registrant shall notify the office on a form prescribed by the
1812
commission by rule. The notification shall be accompanied by a
1813
nonrefundable $50 fee for each authorized vendor or location.
1814
Each notification shall also be accompanied by a financial
1815
statement demonstrating compliance with s. 560.209(1), unless
1816
compliance has been demonstrated by a financial statement filed
1817
with the registrant's quarterly report in compliance with s.
1818
560.118(2). The financial statement must be dated within 90 days
1819
of the date of designation of the authorized vendor or location.
1820
This subsection shall not apply to any authorized vendor or
1821
location that has been designated by the registrant before
1822
October 1, 2001.
1823
(3) Within 60 days after the date a registrant closes a
1824
location within this state or withdraws authorization for an
1825
authorized vendor to operate on the registrant's behalf within
1826
this state, the registrant shall notify the office on a form
1827
prescribed by the commission by rule.
1828
Section 34. Effective January 1, 2009, section 560.2085,
1829
Florida Statutes, is created to read:
1830
560.2085 Authorized vendors.--A licensee under this part
1831
shall:
1832
(1) Within 60 days after an authorized vendor commences
1833
business, file with the office such information as prescribed by
1834
rule together with the nonrefundable appointment fee as provided
1835
by s. 560.143. This requirement applies to vendors who are also
1836
terminated within the 60-day period.
1837
(2) Enter into a written contract, signed by the licensee
1838
and the authorized vendor, which:
1839
(a) Sets forth the nature and scope of the relationship
1840
between the licensee and the authorized vendor, including the
1841
respective rights and responsibilities of the parties; and
1842
(b) Includes contract provisions that require the
1843
authorized vendor to:
1844
1. Report to the licensee, immediately upon discovery, the
1845
theft or loss of currency received for a transmission or payment
1846
instrument;
1847
2. Display a notice to the public, in such form as
1848
prescribed by rule, that the vendor is the authorized vendor of
1849
the licensee;
1850
3. Remit all amounts owed to the licensee for all
1851
transmissions accepted and all payment instruments sold in
1852
accordance with the contract between the licensee and the
1853
authorized vendor;
1854
4. Hold in trust all currency or payment instruments
1855
received for transmissions or for the purchase of payment
1856
instruments from the time of receipt by the licensee or
1857
authorized vendor until the time the transmission obligation is
1858
completed;
1859
5. Not commingle the money received for transmissions
1860
accepted or payment instruments sold on behalf of the licensee
1861
with the money or property of the authorized vendor, except for
1862
making change in the ordinary course of the vendor's business,
1863
and ensure that the money is accounted for at the end of the
1864
business day;
1865
6. Consent to examination or investigation by the office;
1866
7. Adhere to the applicable state and federal laws and
1867
rules pertaining to a money services business; and
1868
8. Provide such other information or disclosure as may be
1869
required by rule.
1870
(3) Develop and implement written policies and procedures
1871
to monitor compliance with applicable state and federal law by
1872
its authorized vendors.
1873
Section 35. Section 560.209, Florida Statutes, is amended
1874
to read:
1875
560.209 Net worth; corporate surety bond; collateral
1876
deposit in lieu of bond.--
1877
(1) A licensee must Any person engaging in a registered
1878
activity shall have a net worth of at least $100,000 computed
1879
according to generally accepted accounting principles. A licensee
1880
operating in Applicants proposing to conduct registered
1881
activities at more than one location must shall have an
1882
additional net worth of $10,000 $50,000 per location in this
1883
state, up as applicable, to a maximum of $2 million $500,000. The
1884
required net worth must be maintained at all times.
1885
(2) A licensee must obtain an annual financial audit
1886
report, which must be submitted to the office within 120 days
1887
after the end of the licensee's fiscal year end, as disclosed to
1888
the office. If the applicant is a wholly owned subsidiary of
1889
another corporation, the financial audit report on the parent
1890
corporation's financial statements shall satisfy this
1891
requirement.
1892
(3)(2) Before the office may issue a license under this
1893
part registration, the applicant must provide to the office a
1894
corporate surety bond, issued by a bonding company or insurance
1895
company authorized to do business in this state.
1896
(a) The corporate surety bond shall be in an such amount as
1897
specified may be determined by commission rule, but may shall not
1898
be less than $50,000 or exceed $2 million $250,000. The rule
1899
shall provide allowances for the financial condition, number of
1900
locations, and anticipated volume of the licensee. However, the
1901
commission and office may consider extraordinary circumstances,
1902
such as the registrant's financial condition, the number of
1903
locations, and the existing or anticipated volume of outstanding
1904
payment instruments or funds transmitted, and require an
1905
additional amount above $250,000, up to $500,000.
1906
(b) The corporate surety bond must shall be in a form
1907
satisfactory to the office and shall run to the state for the
1908
benefit of any claimants in this state against the applicant or
1909
its authorized vendors to secure the faithful performance of the
1910
obligations of the applicant and its authorized vendors with
1911
respect to the receipt, handling, transmission, and payment of
1912
funds. The aggregate liability of the corporate surety bond may
1913
not in no event shall exceed the principal sum of the bond. Such
1914
Claimants against the applicant or its authorized vendors may
1915
themselves bring suit directly on the corporate surety bond, or
1916
the Department of Legal Affairs may bring suit thereon on behalf
1917
of the such claimants, in either one action or in successive
1918
actions.
1919
(c) The A corporate surety bond filed with the office for
1920
purposes of compliance with this section may not be canceled by
1921
either the licensee registrant or the corporate surety except
1922
upon written notice to the office by registered or certified mail
1923
with return receipt requested. A cancellation may shall not take
1924
effect until less than 30 days after receipt by the office of the
1925
such written notice.
1926
(d) The corporate surety must, within 10 days after it pays
1927
any claim to any claimant, give written notice to the office by
1928
registered or certified mail of such payment with details
1929
sufficient to identify the claimant and the claim or judgment so
1930
paid.
1931
(e) If Whenever the principal sum of the such bond is
1932
reduced by one or more recoveries or payments, the licensee
1933
registrant must furnish a new or additional bond so that the
1934
total or aggregate principal sum of the such bond equals the sum
1935
required pursuant to paragraph (a) by the commission.
1936
Alternatively, a licensee registrant may furnish an endorsement
1937
executed by the corporate surety reinstating the bond to the
1938
required principal sum thereof.
1939
(4)(3) In lieu of a such corporate surety bond, or of any
1940
portion of the principal sum thereof required by this section,
1941
the applicant may deposit collateral cash, securities, or
1942
alternative security devices as provided by rule approved by the
1943
commission, with a any federally insured financial institution.
1944
(a) Acceptable collateral deposit items in lieu of a bond
1945
include cash and interest-bearing stocks and bonds, notes,
1946
debentures, or other obligations of the United States or any
1947
agency or instrumentality thereof, or guaranteed by the United
1948
States, or of this state.
1949
(b) The collateral deposit must be in an aggregate amount,
1950
based upon principal amount or market value, whichever is lower,
1951
of at least not less than the amount of the required corporate
1952
surety bond or portion thereof.
1953
(c) Collateral deposits must made under this subsection
1954
shall be pledged to the office and held by the insured financial
1955
institution to secure the same obligations as would the corporate
1956
surety bond, but the depositor is entitled to receive any all
1957
interest and dividends thereon and may, with the approval of the
1958
office, substitute other securities or deposits for those
1959
deposited. The principal amount of the deposit shall be released
1960
only on written authorization of the office or on the order of a
1961
court of competent jurisdiction.
1962
(5)(4) A licensee registrant must at all times have and
1963
maintain the bond or collateral deposit in the required amount
1964
prescribed by the commission. If the office at any time
1965
reasonably determines that the bond or elements of the collateral
1966
deposit are insecure, deficient in amount, or exhausted in whole
1967
or in part, the office may, by written order, require the filing
1968
of a new or supplemental bond or the deposit of new or additional
1969
collateral deposit items.
1970
(6)(5) The bond and collateral deposit shall remain in
1971
place for 5 years after the licensee registrant ceases licensed
1972
registered operations in this state. The office may allow permit
1973
the bond or collateral deposit to be reduced or eliminated prior
1974
to that time to the extent that the amount of the licensee's
1975
registrant's outstanding payment instruments or money funds
1976
transmitted in this state are reduced. The office may also allow
1977
a licensee permit a registrant to substitute a letter of credit
1978
or such other form of acceptable security for the bond or
1979
collateral deposit at the time the licensee registrant ceases
1980
licensed money transmission operations in this state.
1981
(6) The office may waive or reduce a registrant's net worth
1982
or bond or collateral deposit requirement. Such waiver or
1983
modification must be requested by the applicant or registrant,
1984
and may be granted upon a showing by the applicant or registrant
1985
to the satisfaction of the office that:
1986
(a) The existing net worth, bond, or collateral deposit
1987
requirement is sufficiently in excess of the registrant's highest
1988
potential level of outstanding payment instruments or money
1989
transmissions in this state;
1990
(b) The direct and indirect cost of meeting the net worth,
1991
bond, or collateral deposit requirement will restrict the ability
1992
of the money transmitter to effectively serve the needs of its
1993
customers and the public; or
1994
(c) The direct and indirect cost of meeting the net worth,
1995
bond, or collateral requirement will not only have a negative
1996
impact on the money transmitter but will severely hinder the
1997
ability of the money transmitter to participate in and promote
1998
the economic progress and welfare of this state or the United
1999
States.
2000
Section 36. Section 560.210, Florida Statutes, is amended
2001
to read:
2002
560.210 Permissible investments.--
2003
(1) A licensee must registrant shall at all times possess
2004
permissible investments with an aggregate market value,
2005
calculated in accordance with United States generally accepted
2006
accounting principles, of at least not less than the aggregate
2007
face amount of all outstanding money funds transmissions and
2008
payment instruments issued or sold by the licensee registrant or
2009
an authorized vendor in the United States. As used in this
2010
section,
2011
(2) Acceptable permissible investments include:
2012
(a) Cash.
2013
(b) Certificates of deposit or other deposit liabilities of
2014
a domestic or foreign financial institution, either domestic or
2015
foreign.
2016
(c) Bankers' acceptances eligible for purchase by member
2017
banks of the Federal Reserve System.
2018
(d) An investment bearing a rating of one of the three
2019
highest grades as defined by a nationally recognized rating
2020
service of such securities.
2021
(e) Investment securities that are obligations of the
2022
United States, its agencies or instrumentalities, or obligations
2023
that are guaranteed fully as to principal and interest by the
2024
United States, or any obligations of any state or municipality,
2025
or any political subdivision thereof.
2026
(f) Shares in a money market mutual fund.
2027
(g) A demand borrowing agreement or agreements made to a
2028
corporation or a subsidiary of a corporation whose capital stock
2029
is listed on a national exchange.
2030
(h) Receivables that are due to a licensee registrant from
2031
the licensee's registrant's authorized vendors except those that
2032
are more than 90 30 days past due or are doubtful of collection.
2033
(i) Any other investment approved by rule the commission.
2034
(2)(3) Notwithstanding any other provision of this part,
2035
the office, with respect to any particular licensee registrant or
2036
all licensees registrants, may limit the extent to which any
2037
class of permissible investments may be considered a permissible
2038
investment, except for cash and certificates of deposit.
2039
(3)(4) The office may waive the permissible investments
2040
requirement if the dollar value of a licensee's registrant's
2041
outstanding payment instruments and money funds transmitted do
2042
not exceed the bond or collateral deposit posted by the licensee
2043
registrant under s. 560.209.
2044
Section 37. Section 560.211, Florida Statutes, is amended
2045
to read:
2046
560.211 Required records.--
2047
(1) In addition to the record retention requirements under
2048
s. 560.110, each licensee under this part Each registrant must
2049
make, keep, and preserve the following books, accounts, records,
2050
and documents other records for 5 a period of 3 years:
2051
(a) A daily record or records of payment instruments sold
2052
and money funds transmitted.
2053
(b) A general ledger containing all asset, liability,
2054
capital, income, and expense accounts, which general ledger shall
2055
be posted at least monthly.
2056
(c) Daily settlement records sheets received from
2057
authorized vendors.
2058
(d) Monthly financial institution statements and
2059
reconciliation records.
2060
(e) Records of outstanding payment instruments and money
2061
funds transmitted.
2062
(f) Records of each payment instrument paid and money funds
2063
transmission delivered within the 3-year period.
2064
(g) A list of the names and addresses of all of the
2065
licensee's registrant's authorized vendors, as well as copies of
2066
each authorized vendor contract.
2067
(h) Records that document the establishment, monitoring,
2068
and termination of relationships with authorized vendors and
2069
foreign affiliates.
2070
(i) Any additional records, as prescribed by rule, designed
2071
to detect and prevent money laundering.
2072
(2) The records required to be maintained by the code may
2073
be maintained by the registrant at any location if the registrant
2074
notifies the office in writing of the location of the records in
2075
its application or otherwise by amendment as prescribed by
2076
commission rule. The registrant shall make such records available
2077
to the office for examination and investigation in this state, as
2078
permitted by the code, within 7 days after receipt of a written
2079
request.
2080
(3) Registrants and authorized vendors need not preserve or
2081
retain any of the records required by this section or copies
2082
thereof for a period longer than 3 years unless a longer period
2083
is expressly required by the laws of this state or federal law. A
2084
registrant or authorized vendor may destroy any of its records or
2085
copies thereof after the expiration of the retention period
2086
required by this section.
2087
(4) The original of any record of a registrant or
2088
authorized vendor includes the data or other information
2089
comprising a record stored or transmitted in or by means of any
2090
electronic, computerized, mechanized, or other information
2091
storage or retrieval or transmission system or device which can
2092
upon request generate, regenerate, or transmit the precise data
2093
or other information comprising the record; and an original also
2094
includes the visible data or other information so generated,
2095
regenerated, or transmitted if it is legible or can be made
2096
legible by enlargement or other process.
2097
(2)(5) Any person who willfully fails to comply with this
2098
section commits a felony of the third degree, punishable as
2099
provided in s. 775.082, s. 775.083, or s. 775.084.
2100
Section 38. Section 560.212, Florida Statutes, is amended
2101
to read:
2102
560.212 Financial liability.--A licensee Each registrant
2103
under this part is liable for the payment of all money funds
2104
transmitted and payment instruments that it sells, in whatever
2105
form and whether directly or through an authorized vendor, as the
2106
maker, drawer, or principal thereof, regardless of whether such
2107
item is negotiable or nonnegotiable.
2108
Section 39. Section 560.213, Florida Statutes, is amended
2109
to read:
2110
560.213 Payment instrument information.--Each payment
2111
instrument sold or issued by a licensee registrant, directly or
2112
through an authorized vendor, must shall bear the name of the
2113
licensee, and any other information as may be required by rule,
2114
registrant clearly imprinted thereon.
2115
Section 40. Section 560.303, Florida Statutes, is amended
2116
to read:
2117
560.303 License required Requirement of registration.--
2118
(1) A No person may not shall engage in, or in any manner
2119
advertise engagement in, the business of cashing payment
2120
instruments or the exchanging of foreign currency without being
2121
licensed first registering under the provisions of this part.
2122
(2) A person licensed under registered pursuant to this
2123
part may not engage in the activities authorized by this part. A
2124
person registered under this part is prohibited from engaging
2125
directly in the activities that require a license under are
2126
authorized under a registration issued pursuant to part II of
2127
this chapter, but may be such person is not prohibited from
2128
engaging in an authorized vendor for relationship with a person
2129
licensed registered under part II.
2130
(3) A person exempt from licensure under registration
2131
pursuant to this part engaging in the business of cashing payment
2132
instruments or the exchanging of foreign currency may shall not
2133
charge fees in excess of those provided in s. 560.309.
2134
Section 41. Section 560.304, Florida Statutes, is amended
2135
to read:
2136
560.304 Exemption from licensure Exceptions to
2137
registration.--The requirement for licensure under provisions of
2138
this part does do not apply to:
2139
(1) A person, at a location, cashing payment instruments
2140
that have an aggregate face value of less than $2,000 per person
2141
per day Authorized vendors of any person registered pursuant to
2142
the provisions of the code, acting within the scope of authority
2143
conferred by the registrant.
2144
(2) A person cashing a tax refund check issued by the
2145
United States Treasury in an amount less than $4,000 Persons
2146
engaged in the cashing of payment instruments or the exchanging
2147
of foreign currency which is incidental to the retail sale of
2148
goods or services whose compensation for cashing payment
2149
instruments or exchanging foreign currency at each site does not
2150
exceed 5 percent of the total gross income from the retail sale
2151
of goods or services by such person during its most recently
2152
completed fiscal year.
2153
Section 42. Section 560.309, Florida Statutes, is amended
2154
to read:
2155
560.309 Conduct of business Rules.--
2156
(1) A licensee may transact business under this part only
2157
under the legal name under which the person is licensed. The use
2158
of a fictitious name is allowed if the fictitious name has been
2159
registered with the Department of State and disclosed to the
2160
office as part of an initial license application, or subsequent
2161
amendment to the application, prior to its use. Before a
2162
registrant shall deposit, with any financial institution, a
2163
payment instrument that is cashed by a registrant, each such item
2164
must be endorsed with the actual name under which such registrant
2165
is doing business.
2166
(2) At the time a licensee accepts a payment instrument
2167
that is cashed by the licensee, the payment instrument must be
2168
endorsed using the legal name under which the licensee is
2169
licensed. Registrants must comply with all the laws of this state
2170
and any federal laws relating to money laundering, including, as
2171
applicable, the provisions of s. 560.123.
2172
(3) A licensee under this part must deposit payment
2173
instruments into a commercial account at a federally insured
2174
financial institution or sell payment instruments within 5
2175
business days after the acceptance of the payment instrument.
2176
(4) A licensee may not accept or cash multiple payment
2177
instruments from a person who is not the original payee, unless
2178
the person is licensed to cash payment instruments pursuant to
2179
this part and all payment instruments accepted are endorsed with
2180
the legal name of the person.
2181
(5) A licensee must report all suspicious activity to the
2182
office in accordance with the criteria set forth in 31 C.F.R. s.
2183
103.20. In lieu of filing such reports, the commission may
2184
prescribe by rule that the licensee may file such reports with an
2185
appropriate regulator.
2186
(6) Each location of a licensee where checks are cashed
2187
must be equipped with a security camera system that is capable of
2188
recording and retrieving an image in order to assist in
2189
identifying and apprehending an offender. The licensee does not
2190
have to install a security camera system if the licensee has
2191
installed a bulletproof or bullet-resistant partition or
2192
enclosure in the area where checks are cashed.
2193
2194
2195
(7)(3) The commission may by rule require a every check
2196
casher to display its license registration and post a notice
2197
listing containing its charges for cashing payment instruments.
2198
(8)(4) Exclusive of the direct costs of verification which
2199
shall be established by commission rule, a no check casher may
2200
not shall:
2201
(a) Charge fees, except as otherwise provided by this part,
2202
in excess of 5 percent of the face amount of the payment
2203
instrument, or 6 percent without the provision of identification,
2204
or $5, whichever is greater;
2205
(b) Charge fees in excess of 3 percent of the face amount
2206
of the payment instrument, or 4 percent without the provision of
2207
identification, or $5, whichever is greater, if such payment
2208
instrument is the payment of any kind of state public assistance
2209
or federal social security benefit payable to the bearer of the
2210
such payment instrument; or
2211
(c) Charge fees for personal checks or money orders in
2212
excess of 10 percent of the face amount of those payment
2213
instruments, or $5, whichever is greater.
2214
(d) As used in this subsection, "identification" means, and
2215
is limited to, an unexpired and otherwise valid driver license, a
2216
state identification card issued by any state of the United
2217
States or its territories or the District of Columbia, and
2218
showing a photograph and signature, a United States Government
2219
Resident Alien Identification Card, a United States passport, or
2220
a United States Military identification card.
2221
(9) A licensee cashing payment instruments may not assess
2222
the cost of collections, other than fees for insufficient funds
2223
as provided by law, without a judgment from a court of competent
2224
jurisdiction.
2225
(10) If a check is returned to a licensee from a payor
2226
financial institution due to lack of funds, a closed account, or
2227
a stop-payment order, the licensee may seek collection pursuant
2228
to s. 68.065. In seeking collection, the licensee must comply
2229
with the prohibitions against harassment or abuse, false or
2230
misleading representations, and unfair practices in the Fair Debt
2231
Collections Practices Act, 15 U.S.C. ss. 1692d, 1692e, and 1692f.
2232
A violation of this subsection is a deceptive and unfair trade
2233
practice and constitutes a violation of the Deceptive and Unfair
2234
Trade Practices Act under part II of chapter 501. In addition, a
2235
licensee must comply with the applicable provisions of the
2236
Consumer Collection Practices Act under part VI of chapter 559,
2237
including s. 559.77.
2238
Section 43. Section 560.310, Florida Statutes, is amended
2239
to read:
2240
560.310 Records of check cashers and foreign currency
2241
exchangers.--
2242
(1) In addition to the record retention requirements
2243
specified in s. 560.110, a licensee engaged in check cashing must
2244
maintain the following:
2245
(a) Customer files, as prescribed by rule, on all customers
2246
who cash corporate or third-party payment instruments exceeding
2247
$1,000.
2248
(b) For any payment instrument accepted having a face value
2249
of $1,000 or more:
2250
1. A copy of the personal identification that bears a
2251
photograph of the customer used as identification and presented
2252
by the customer. Acceptable personal identification is limited to
2253
a valid driver's license; a state identification card issued by
2254
any state of the United States or its territories or the District
2255
of Columbia, and showing a photograph and signature; a United
2256
States Government Resident Alien Identification Card; a passport;
2257
or a United States Military identification card.
2258
2. A thumbprint of the customer taken by the licensee.
2259
(c) A payment instrument log that must be maintained
2260
electronically as prescribed by rule. For purposes of this
2261
paragraph, multiple payment instruments accepted from any one
2262
person on any given day which total $1,000 or more must be
2263
aggregated and reported on the log. Each registrant must maintain
2264
all books, accounts, records, and documents necessary to
2265
determine the registrant's compliance with the provisions of the
2266
code. Such books, accounts, records, and documents shall be
2267
retained for a period of at least 3 years.
2268
(2) A licensee under this part may engage the services of a
2269
third party that is not a depository institution for the
2270
maintenance and storage of records required by this section if
2271
all the requirements of this section are met. The records
2272
required to be maintained by the code may be maintained by the
2273
registrant at any location if the registrant notifies the office,
2274
in writing, of the location of the records in its application or
2275
otherwise by amendment as prescribed by commission rule. The
2276
registrant shall make such records available to the office for
2277
examination and investigation in this state, as permitted by the
2278
code, within 7 days after receipt of a written request.
2279
(3) Registrants and authorized vendors need not preserve or
2280
retain any of the records required by this section or copies
2281
thereof for a period longer than 3 years unless a longer period
2282
is expressly required by the laws of this state or any federal
2283
law. A registrant or authorized vendor may destroy any of its
2284
records or copies thereof after the expiration of the retention
2285
period required by this section.
2286
(4) The original of any record of a registrant or
2287
authorized vendor includes the data or other information
2288
comprising a record stored or transmitted in or by means of any
2289
electronic, computerized, mechanized, or other information
2290
storage or retrieval or transmission system or device which can
2291
upon request generate, regenerate, or transmit the precise data
2292
or other information comprising the record; and an original also
2293
includes the visible data or other information so generated,
2294
regenerated, or transmitted if it is legible or can be made
2295
legible by enlargement or other process.
2296
(5) Any person who willfully violates this section or fails
2297
to comply with any lawful written demand or order of the office
2298
made pursuant to this section commits a felony of the third
2299
degree, punishable as provided in s. 775.082, s. 775.083, or s.
2300
775.084.
2301
Section 44. Section 560.402, Florida Statutes, is amended
2302
to read:
2303
560.402 Definitions.--In addition to the definitions
2304
provided in ss. 560.103, 560.202, and 560.302 and unless
2305
otherwise clearly indicated by the context, For the purposes of
2306
this part, the term:
2307
(1) "Affiliate" means a person who, directly or indirectly,
2308
through one or more intermediaries controls, or is controlled by,
2309
or is under common control with, a deferred presentment provider.
2310
(2) "Business day" means the hours during a particular day
2311
during which a deferred presentment provider customarily conducts
2312
business, not to exceed 15 consecutive hours during that day.
2313
(3) "Days" means calendar days.
2314
(2)(4) "Deferment period" means the number of days a
2315
deferred presentment provider agrees to defer depositing, or
2316
presenting, or redeeming a payment instrument.
2317
(5) "Deferred presentment provider" means a person who
2318
engages in a deferred presentment transaction and is registered
2319
under part II or part III of the code and has filed a declaration
2320
of intent with the office.
2321
(3)(6) "Deferred presentment transaction" means providing
2322
currency or a payment instrument in exchange for a drawer's
2323
person's check and agreeing to hold the that person's check for a
2324
deferment period of time prior to presentment, deposit, or
2325
redemption.
2326
(4)(7) "Drawer" means a customer any person who writes a
2327
personal check and upon whose account the check is drawn.
2328
(5) "Extension of a deferred presentment agreement" means
2329
continuing a deferred presentment transaction past the deferment
2330
period by having the drawer pay additional fees and the deferred
2331
presentment provider continuing to hold the check for another
2332
deferment period.
2333
(6)(8) "Rollover" means the termination or extension of a
2334
an existing deferred presentment agreement by the payment of an
2335
any additional fee and the continued holding of the check, or the
2336
substitution of a new check drawn by the drawer pursuant to a new
2337
deferred presentment agreement.
2338
(9) "Fee" means the fee authorized for the deferral of the
2339
presentation of a check pursuant to this part.
2340
(7)(10) "Termination of a an existing deferred presentment
2341
agreement" means that the check that is the basis for the an
2342
agreement is redeemed by the drawer by payment in full in cash,
2343
or is deposited and the deferred presentment provider has
2344
evidence that such check has cleared. A Verification of
2345
sufficient funds in the drawer's account by the deferred
2346
presentment provider is shall not be sufficient evidence to deem
2347
that the existing deferred deposit transaction is to be
2348
terminated.
2349
(11) "Extension of an existing deferred presentment
2350
agreement" means that a deferred presentment transaction is
2351
continued by the drawer paying any additional fees and the
2352
deferred presentment provider continues to hold the check for
2353
another period of time prior to deposit, presentment, or
2354
redemption.
2355
Section 45. Section 560.403, Florida Statutes, is amended
2356
to read:
2357
560.403 Requirements of registration; Declaration of
2358
intent.--
2359
(1) Except for financial institutions as defined in s.
2360
655.005 No person, Unless otherwise exempt from this chapter, a
2361
person may not shall engage in a deferred presentment transaction
2362
unless the person is licensed as a money services business
2363
registered under the provisions of part II or part III of this
2364
chapter and has on file with the office a declaration of intent
2365
to engage in deferred presentment transactions, regardless of
2366
whether such person is exempted from licensure under any other
2367
provision of this chapter. The declaration of intent must shall
2368
be under oath and on such form as prescribed the commission
2369
prescribes by rule. The declaration of intent must shall be filed
2370
together with a nonrefundable filing fee as provided in s.
2371
560.143 of $1,000. Any person who is registered under part II or
2372
part III on the effective date of this act and intends to engage
2373
in deferred presentment transactions shall have 60 days after the
2374
effective date of this act to file a declaration of intent. A
2375
declaration of intent expires after 24 months and must be
2376
renewed.
2377
(2) A registrant under this part shall renew his or her
2378
intent to engage in the business of deferred presentment
2379
transactions or to act as a deferred presentment provider upon
2380
renewing his or her registration under part II or part III and
2381
shall do so by indicating his or her intent by submitting a
2382
nonrefundable deferred presentment provider renewal fee of
2383
$1,000, in addition to any fees required for renewal of
2384
registration under part II or part III.
2385
(3) A registrant under this part who fails to timely renew
2386
his or her intent to engage in the business of deferred
2387
presentment transactions or to act as a deferred presentment
2388
provider shall immediately cease to engage in the business of
2389
deferred presentment transactions or to act as a deferred
2390
presentment provider.
2391
(4) The notice of intent of a registrant under this part
2392
who fails to timely renew his or her intent to engage in the
2393
business of deferred presentment transactions or to act as a
2394
deferred presentment provider on or before the expiration date of
2395
the registration period automatically expires. A renewal fee and
2396
a nonrefundable late fee of $500 must be filed within 60 calendar
2397
days after the expiration of an existing registration in order
2398
for the declaration of intent to be reinstated. The office shall
2399
grant a reinstatement of registration if an application is filed
2400
during the 60-day period, and the reinstatement is effective upon
2401
receipt of the required fees and any information that the
2402
commission requires by rule. If the registrant has not filed a
2403
reinstatement of a renewal declaration of intent within 60
2404
calendar days after the expiration date of an existing
2405
registration, the notice of intent expires and a new declaration
2406
of intent must be filed with the office.
2407
(5) No person, other than a financial institution as
2408
defined in s. 655.005, shall be exempt from registration and
2409
declaration if such person engages in deferred presentment
2410
transactions, regardless of whether such person is currently
2411
exempt from registration under any provision of this code.
2412
Section 46. Section 560.404, Florida Statutes, is amended
2413
to read:
2414
560.404 Requirements for deferred presentment
2415
transactions.--
2416
(1) Each Every deferred presentment transaction must shall
2417
be documented in a written agreement signed by both the deferred
2418
presentment provider and the drawer.
2419
(2) The deferred presentment transaction agreement must
2420
shall be executed on the day the deferred presentment provider
2421
furnishes currency or a payment instrument to the drawer.
2422
(3) Each written agreement must shall contain the following
2423
information, in addition to any information required the
2424
commission requires by rule, contain the following information:
2425
(a) The name or trade name, address, and telephone number
2426
of the deferred presentment provider and the name and title of
2427
the person who signs the agreement on behalf of the deferred
2428
presentment provider.
2429
(b) The date the deferred presentment transaction is was
2430
made.
2431
(c) The amount of the drawer's check.
2432
(d) The length of the deferment deferral period.
2433
(e) The last day of the deferment period.
2434
(f) The address and telephone number of the office and the
2435
Division of Consumer Services of the Department of Financial
2436
Services.
2437
(g) A clear description of the drawer's payment obligations
2438
under the deferred presentment transaction.
2439
(h) The transaction number assigned by the office's
2440
database.
2441
(4) The Every deferred presentment provider must shall
2442
furnish to the drawer a copy of the deferred presentment
2443
transaction agreement to the drawer.
2444
(5) The face amount of a check taken for deferred
2445
presentment may not exceed $500 exclusive of the fees allowed
2446
under by this part.
2447
(6) A No deferred presentment provider or its affiliate may
2448
not shall charge fees that exceed in excess of 10 percent of the
2449
currency or payment instrument provided. However, a verification
2450
fee may be charged as provided in s. 560.309(7) in accordance
2451
with s. 560.309(4) and the rules adopted pursuant to the code.
2452
The 10-percent fee may not be applied to the verification fee. A
2453
deferred presentment provider may charge only those fees
2454
specifically authorized in this section.
2455
(7) The fees authorized by this section may not be
2456
collected before the drawer's check is presented or redeemed.
2457
(8) A No deferred presentment agreement may not shall be
2458
for a term longer than in excess of 31 days or less than 7 days.
2459
(9) A No deferred presentment provider may not shall
2460
require a drawer person to provide any additional security for
2461
the deferred presentment transaction or any extension or require
2462
the drawer a person to provide any additional guaranty from
2463
another person.
2464
(10) A deferred presentment provider may shall not include
2465
any of the following provisions in a deferred provider any
2466
written agreement:
2467
(a) A hold harmless clause.;
2468
(b) A confession of judgment clause.;
2469
(c) Any assignment of or order for payment of wages or
2470
other compensation for services.;
2471
(d) A provision in which the drawer agrees not to assert
2472
any claim or defense arising out of the agreement.; or
2473
(e) A waiver of any provision of this part.
2474
(11) A Each deferred presentment provider shall immediately
2475
provide the drawer with the full amount of any check to be held,
2476
less only the fees allowed permitted under this section.
2477
(12) The deferred presentment agreement and the drawer's
2478
check must shall bear the same date, and the number of days of
2479
the deferment period shall be calculated from that this date. The
2480
No deferred presentment provider and the drawer or person may not
2481
alter or delete the date on any written agreement or check held
2482
by the deferred presentment provider.
2483
(13) For each deferred presentment transaction, the
2484
deferred presentment provider must comply with the disclosure
2485
requirements of 12 C.F.R., part 226, relating to the federal
2486
Truth-in-Lending Act, and Regulation Z of the Board of Governors
2487
of the Federal Reserve Board. A copy of the disclosure must be
2488
provided to the drawer at the time the deferred presentment
2489
transaction is initiated.
2490
(14) A No deferred presentment provider or its affiliate
2491
may not accept or hold an undated check or a check dated on a
2492
date other than the date on which the deferred presentment
2493
provider agreed to hold the check and signed the deferred
2494
presentment transaction agreement.
2495
(15) A Every deferred presentment provider must shall hold
2496
the drawer's check for the agreed number of days, unless the
2497
drawer chooses to redeem the check before the agreed presentment
2498
date.
2499
(16) Proceeds in a deferred presentment transaction may be
2500
made to the drawer in the form of the deferred presentment
2501
provider's payment instrument if the deferred presentment
2502
provider is registered under part II; however, an no additional
2503
fee may not be charged by a deferred presentment provider or its
2504
affiliate for issuing or cashing the deferred presentment
2505
provider's payment instrument.
2506
(17) A No deferred presentment provider may not require the
2507
drawer to accept its payment instrument in lieu of currency.
2508
(18) A No deferred presentment provider or its affiliate
2509
may not engage in the rollover of a any deferred presentment
2510
agreement. A deferred presentment provider may shall not redeem,
2511
extend, or otherwise consolidate a deferred presentment agreement
2512
with the proceeds of another deferred presentment transaction
2513
made by the same or an affiliate affiliated deferred presentment
2514
provider.
2515
(19) A deferred presentment provider may not enter into a
2516
deferred presentment transaction with a drawer person who has an
2517
outstanding deferred presentment transaction with that provider
2518
or with any other deferred presentment provider, or with a person
2519
whose previous deferred presentment transaction with that
2520
provider or with any other provider has been terminated for less
2521
than 24 hours. The deferred presentment provider must verify such
2522
information as follows:
2523
(a) The deferred presentment provider shall maintain a
2524
common database and shall verify whether the that deferred
2525
presentment provider or an affiliate has an outstanding deferred
2526
presentment transaction with a particular person or has
2527
terminated a transaction with that person within the previous 24
2528
hours.
2529
(b) The deferred presentment provider shall access the
2530
office's database established pursuant to subsection (23) and
2531
shall verify whether any other deferred presentment provider has
2532
an outstanding deferred presentment transaction with a particular
2533
person or has terminated a transaction with that person within
2534
the previous 24 hours. If a provider has not established Prior to
2535
the time that the office has implemented such a database, the
2536
deferred presentment provider may rely upon the written
2537
verification of the drawer as provided in subsection (20).
2538
(20) A deferred presentment provider shall provide the
2539
following notice in a prominent place on each deferred
2540
presentment agreement in at least 14-point type in substantially
2541
the following form and must obtain the signature of the drawer
2542
where indicated:
2543
2544
NOTICE
2545
2546
1. STATE LAW PROHIBITS YOU FROM HAVING MORE THAN ONE DEFERRED
2547
PRESENTMENT AGREEMENT AT ANY ONE TIME. STATE LAW ALSO PROHIBITS
2548
YOU FROM ENTERING INTO A DEFERRED PRESENTMENT AGREEMENT WITHIN 24
2549
HOURS AFTER OF TERMINATING ANY PREVIOUS DEFERRED PRESENTMENT
2550
AGREEMENT. FAILURE TO OBEY THIS LAW COULD CREATE SEVERE FINANCIAL
2551
HARDSHIP FOR YOU AND YOUR FAMILY.
2552
2553
YOU MUST SIGN THE FOLLOWING STATEMENT:
2554
2555
I DO NOT HAVE AN OUTSTANDING DEFERRED PRESENTMENT AGREEMENT WITH
2556
ANY DEFERRED PRESENTMENT PROVIDER AT THIS TIME. I HAVE NOT
2557
TERMINATED A DEFERRED PRESENTMENT AGREEMENT WITHIN THE PAST 24
2558
HOURS.
2559
2560
(Signature of Drawer)
2561
2562
2. YOU CANNOT BE PROSECUTED IN CRIMINAL COURT FOR A CHECK
2563
WRITTEN UNDER THIS AGREEMENT, BUT ALL LEGALLY AVAILABLE CIVIL
2564
MEANS TO ENFORCE THE DEBT MAY BE PURSUED AGAINST YOU.
2565
2566
3. STATE LAW PROHIBITS A DEFERRED PRESENTMENT PROVIDER (THIS
2567
BUSINESS) FROM ALLOWING YOU TO "ROLL OVER" YOUR DEFERRED
2568
PRESENTMENT TRANSACTION. THIS MEANS THAT YOU CANNOT BE ASKED OR
2569
REQUIRED TO PAY AN ADDITIONAL FEE IN ORDER TO FURTHER DELAY THE
2570
DEPOSIT OR PRESENTMENT OF YOUR CHECK FOR PAYMENT. IF YOU INFORM
2571
THE PROVIDER IN PERSON THAT YOU CANNOT COVER THE CHECK OR PAY IN
2572
FULL THE AMOUNT OWING AT THE END OF THE TERM OF THIS AGREEMENT,
2573
YOU WILL RECEIVE A GRACE PERIOD EXTENDING THE TERM OF THE
2574
AGREEMENT FOR AN ADDITIONAL 60 DAYS AFTER THE ORIGINAL
2575
TERMINATION DATE, WITHOUT ANY ADDITIONAL CHARGE. THE DEFERRED
2576
PRESENTMENT PROVIDER SHALL REQUIRE THAT YOU, AS A CONDITION OF
2577
OBTAINING THE GRACE PERIOD, COMPLETE CONSUMER CREDIT COUNSELING
2578
PROVIDED BY AN AGENCY INCLUDED ON THE LIST THAT WILL BE PROVIDED
2579
TO YOU BY THIS PROVIDER. YOU MAY ALSO AGREE TO COMPLY WITH AND
2580
ADHERE TO A REPAYMENT PLAN APPROVED BY THAT AGENCY. IF YOU DO NOT
2581
COMPLY WITH AND ADHERE TO A REPAYMENT PLAN APPROVED BY THAT
2582
AGENCY, WE MAY DEPOSIT OR PRESENT YOUR CHECK FOR PAYMENT AND
2583
PURSUE ALL LEGALLY AVAILABLE CIVIL MEANS TO ENFORCE THE DEBT AT
2584
THE END OF THE 60-DAY GRACE PERIOD.
2585
(21) The deferred presentment provider may not deposit or
2586
present the drawer's check if the drawer informs the provider in
2587
person that the drawer cannot redeem or pay in full in cash the
2588
amount due and owing the deferred presentment provider. No
2589
additional fees or penalties may be imposed on the drawer by
2590
virtue of any misrepresentation made by the drawer as to the
2591
sufficiency of funds in the drawer's account. In no event shall
2592
any Additional fees may not be added to the amounts due and owing
2593
to the deferred presentment provider.
2594
(22)(a) If, by the end of the deferment period, the drawer
2595
informs the deferred presentment provider in person that the
2596
drawer cannot redeem or pay in full in cash the amount due and
2597
owing the deferred presentment provider, the deferred presentment
2598
provider shall provide a grace period extending the term of the
2599
agreement for an additional 60 days after the original
2600
termination date, without any additional charge.
2601
(a) The provider shall require that as a condition of
2602
providing a this grace period, that within the first 7 days of
2603
the grace period the drawer make an appointment with a consumer
2604
credit counseling agency within 7 days after the end of the
2605
deferment period and complete the counseling by the end of the
2606
grace period. The drawer may agree to, comply with, and adhere to
2607
a repayment plan approved by the counseling agency. If the drawer
2608
agrees to comply with and adhere to a repayment plan approved by
2609
the counseling agency, the provider must is also required to
2610
comply with and adhere to that repayment plan. The deferred
2611
presentment provider may not deposit or present the drawer's
2612
check for payment before the end of the 60-day grace period
2613
unless the drawer fails to comply with such conditions or the
2614
drawer fails to notify the provider of such compliance. Before
2615
each deferred presentment transaction, the provider may verbally
2616
advise the drawer of the availability of the grace period
2617
consistent with the provisions of the written notice in
2618
subsection (20), and may shall not discourage the drawer from
2619
using the grace period.
2620
(b) At the commencement of the grace period, the deferred
2621
presentment provider shall provide the drawer:
2622
1. Verbal notice of the availability of the grace period
2623
consistent with the written notice in subsection (20).
2624
2. A list of approved consumer credit counseling agencies
2625
prepared by the office. The office list shall include nonprofit
2626
consumer credit counseling agencies affiliated with the National
2627
Foundation for Credit Counseling which provide credit counseling
2628
services to state Florida residents in person, by telephone, or
2629
through the Internet. The office list must include phone numbers
2630
for the agencies, the counties served by the agencies, and
2631
indicate the agencies that provide telephone counseling and those
2632
that provide Internet counseling. The office shall update the
2633
list at least once each year.
2634
3. The following notice in at least 14-point type in
2635
substantially the following form:
2636
2637
2638
AS A CONDITION OF OBTAINING A GRACE PERIOD EXTENDING THE TERM OF
2639
YOUR DEFERRED PRESENTMENT AGREEMENT FOR AN ADDITIONAL 60 DAYS,
2640
UNTIL [DATE], WITHOUT ANY ADDITIONAL FEES, YOU MUST COMPLETE
2641
CONSUMER CREDIT COUNSELING PROVIDED BY AN AGENCY INCLUDED ON THE
2642
LIST THAT WILL BE PROVIDED TO YOU BY THIS PROVIDER. YOU MAY ALSO
2643
AGREE TO COMPLY WITH AND ADHERE TO A REPAYMENT PLAN APPROVED BY
2644
THE AGENCY. THE COUNSELING MAY BE IN PERSON, BY TELEPHONE, OR
2645
THROUGH THE INTERNET. YOU MUST NOTIFY US WITHIN 7 SEVEN (7) DAYS,
2646
BY [DATE], THAT YOU HAVE MADE AN APPOINTMENT WITH SUCH A CONSUMER
2647
CREDIT COUNSELING AGENCY. YOU MUST ALSO NOTIFY US WITHIN 60 SIXTY
2648
(60) DAYS, BY [DATE], THAT YOU HAVE COMPLETED THE CONSUMER CREDIT
2649
COUNSELING. WE MAY VERIFY THIS INFORMATION WITH THE AGENCY. IF
2650
YOU FAIL TO PROVIDE EITHER THE 7-DAY OR 60-DAY NOTICE, OR IF YOU
2651
HAVE NOT MADE THE APPOINTMENT OR COMPLETED THE COUNSELING WITHIN
2652
THE TIME REQUIRED, WE MAY DEPOSIT OR PRESENT YOUR CHECK FOR
2653
PAYMENT AND PURSUE ALL LEGALLY AVAILABLE CIVIL MEANS TO ENFORCE
2654
THE DEBT.
2655
(c) If a drawer completes an approved payment plan, the
2656
deferred presentment provider shall pay one-half of the drawer's
2657
fee for the deferred presentment agreement to the consumer credit
2658
counseling agency.
2659
(23) The office shall implement a common database with
2660
real-time access through an Internet connection for deferred
2661
presentment providers, as provided in this subsection. The
2662
database must be accessible to the office and the deferred
2663
presentment providers in order to verify whether any deferred
2664
presentment transactions are outstanding for a particular person.
2665
Deferred presentment providers shall submit such data before
2666
entering into each deferred presentment transaction in such
2667
format as required the commission shall require by rule,
2668
including the drawer's name, social security number or employment
2669
authorization alien number, address, driver's license number,
2670
amount of the transaction, date of transaction, the date that the
2671
transaction is closed, and such additional information as is
2672
required by rule the commission. The commission may by rule
2673
impose a fee of up to not to exceed $1 per transaction for data
2674
that must required to be submitted by a deferred presentment
2675
provider. A deferred presentment provider may rely on the
2676
information contained in the database as accurate and is not
2677
subject to any administrative penalty or civil liability due to
2678
as a result of relying on inaccurate information contained in the
2679
database. A deferred presentment provider must notify the office,
2680
in a manner as prescribed by rule, within 15 business days after
2681
ceasing operations or no longer holding a license under part II
2682
or part III of this chapter. Such notification must include a
2683
reconciliation of all open transactions. If the provider fails to
2684
provide notice, the office shall take action to administratively
2685
release all open and pending transactions in the database after
2686
the office becomes aware of the closure. This section does not
2687
affect the rights of the provider to enforce the contractual
2688
provisions of the deferred presentment agreements through any
2689
civil action allowed by law. The commission may adopt rules to
2690
administer and enforce the provisions of this subsection section
2691
and to ensure assure that the database is used by deferred
2692
presentment providers in accordance with this section.
2693
(24) A deferred presentment provider may not accept more
2694
than one check or authorization to initiate more than one
2695
automated clearinghouse transaction to collect on a deferred
2696
presentment transaction for a single deferred presentment
2697
transaction.
2698
Section 47. Section 560.405, Florida Statutes, is amended
2699
to read:
2700
560.405 Deposit; redemption.--
2701
(1) The deferred presentment provider or its affiliate may
2702
shall not present the drawer's check before the end of the
2703
deferment period prior to the agreed-upon date of presentment, as
2704
reflected in the deferred presentment transaction agreement.
2705
(2) Before a deferred presentment provider presents the
2706
drawer's check, the check must shall be endorsed with the actual
2707
name under which the deferred presentment provider is doing
2708
business.
2709
(3) Notwithstanding the provisions of subsection (1), in
2710
lieu of presentment, a deferred presentment provider may allow
2711
the check to be redeemed at any time upon payment to the deferred
2712
presentment provider in the amount of the face amount of the
2713
drawer's check. However, payment may not be made in the form of a
2714
personal check. Upon redemption, the deferred presentment
2715
provider shall return the drawer's check that was being held and
2716
provide a signed, dated receipt showing that the drawer's check
2717
has been redeemed.
2718
(4) A No drawer may not can be required to redeem his or
2719
her check before prior to the agreed-upon date; however, the
2720
drawer may choose to redeem the check before the agreed-upon
2721
presentment date.
2722
Section 48. Section 560.406, Florida Statutes, is amended
2723
to read:
2724
560.406 Worthless checks.--
2725
(1) If a check is returned to a deferred presentment
2726
provider from a payor financial institution due to lack of funds,
2727
a closed account, or a stop-payment order, the deferred
2728
presentment provider may seek collection pursuant to s. 68.065,
2729
except a deferred presentment provider may shall not be entitled
2730
to collect treble damages pursuant s. 68.065. The notice sent by
2731
the a deferred deposit provider may pursuant to s. 68.065 shall
2732
not include any references to treble damages and must clearly
2733
state that the deferred presentment provider is not entitled to
2734
recover such damages. Except as otherwise provided in this part,
2735
an individual who issues a personal check to a deferred
2736
presentment provider under a deferred presentment agreement is
2737
not subject to criminal penalty.
2738
(2) If a check is returned to a deferred presentment
2739
provider from a payor financial institution due to insufficient
2740
funds, a closed account, or a stop-payment order, the deferred
2741
presentment provider may pursue all legally available civil
2742
remedies to collect the check, including, but not limited to, the
2743
imposition of all charges imposed on the deferred presentment
2744
provider by the any financial institution. In its collection
2745
practices, a deferred presentment provider must shall comply with
2746
the prohibitions against harassment or abuse, false or misleading
2747
representations, and unfair practices that which are contained in
2748
ss. 806, 807, and 808 of the Fair Debt Collections Practices Act,
2749
15 U.S.C. ss. 1692d, 1692e, 1692f. A violation of this act is a
2750
deceptive and unfair trade practice and constitutes a violation
2751
of the Deceptive and Unfair Trade Practices Act under, part II of
2752
chapter 501. In addition, a deferred presentment provider must
2753
shall comply with the applicable provisions of part VI of chapter
2754
559, the Consumer Collection Practices Act under part VI of
2755
chapter 559, including, but not limited to, the provisions of s.
2756
559.77.
2757
(3) A deferred presentment provider may not assess the cost
2758
of collection, other than charges for insufficient funds as
2759
allowed by law, without a judgment from a court of competent
2760
jurisdiction.
2761
Section 49. Subsection (7) of section 499.005, Florida
2762
Statutes, is amended to read:
2763
499.005 Prohibited acts.--It is unlawful for a person to
2764
perform or cause the performance of any of the following acts in
2765
this state:
2766
(7) The purchase or sale of prescription drugs for
2767
wholesale distribution in exchange for currency, as defined in s.
2768
560.103 s. 560.103(6).
2769
Section 50. Paragraph (i) of subsection (2) of section
2770
499.0691, Florida Statutes, is amended to read:
2771
499.0691 Criminal punishment for violations related to
2772
drugs; dissemination of false advertisement.--
2773
(2) Any person who violates any of the following provisions
2774
commits a felony of the third degree, punishable as provided in
2775
s. 775.082, s. 775.083, or s. 775.084, or as otherwise provided
2776
in ss. 499.001-499.081.
2777
(i) The purchase or sale of prescription drugs for
2778
wholesale distribution in exchange for currency, as defined in s.
2779
560.103 s. 560.103(6).
2780
Section 51. Paragraph (b) of subsection (2) of section
2781
501.95, Florida Statutes, is amended to read:
2782
501.95 Gift certificates and credit memos.--
2783
(2)
2784
(b) Paragraph (a) does not apply to a gift certificate or
2785
credit memo sold or issued by a financial institution, as defined
2786
in s. 655.005, or by a money services business transmitter, as
2787
defined in s. 560.103, if the gift certificate or credit memo is
2788
redeemable by multiple unaffiliated merchants.
2789
Section 52. Paragraph (n) of subsection (2) of section
2790
538.03, Florida Statutes, is amended to read:
2791
538.03 Definitions; applicability.--
2792
(2) This chapter does not apply to:
2793
(n) A business that contracts with other persons or
2794
entities to offer its secondhand goods for sale, purchase,
2795
consignment, or trade via an Internet website, and that maintains
2796
a shop, store, or other business premises for this purpose, if
2797
all of the following apply:
2798
1. The secondhand goods must be available on the website
2799
for viewing by the public at no charge;
2800
2. The records of the sale, purchase, consignment, or trade
2801
must be maintained for at least 2 years;
2802
3. The records of the sale, purchase, consignment, or
2803
trade, and the description of the secondhand goods as listed on
2804
the website, must contain the serial number of each item, if any;
2805
4. The secondhand goods listed on the website must be
2806
searchable based upon the state or zip code;
2807
5. The business must provide the appropriate law
2808
enforcement agency with the name or names under which it conducts
2809
business on the website;
2810
6. The business must allow the appropriate law enforcement
2811
agency to inspect its business premises at any time during normal
2812
business hours;
2813
7. Any payment by the business resulting from such a sale,
2814
purchase, consignment, or trade must be made to the person or
2815
entity with whom the business contracted to offer the goods and
2816
must be made by check or via a money services business
2817
transmitter licensed under part II of chapter 560; and
2818
8.a. At least 48 hours after the estimated time of
2819
contracting to offer the secondhand goods, the business must
2820
verify that any item having a serial number is not stolen
2821
property by entering the serial number of the item into the
2822
Department of Law Enforcement's stolen article database located
2823
at the Florida Crime Information Center's public access system
2824
website. The business shall record the date and time of such
2825
verification on the contract covering the goods. If such
2826
verification reveals that an item is stolen property, the
2827
business shall immediately remove the item from any website on
2828
which it is being offered and notify the appropriate law
2829
enforcement agency; or
2830
b. The business must provide the appropriate law
2831
enforcement agency with an electronic copy of the name, address,
2832
phone number, driver's license number, and issuing state of the
2833
person with whom the business contracted to offer the goods, as
2834
well as an accurate description of the goods, including make,
2835
model, serial number, and any other unique identifying marks,
2836
numbers, names, or letters that may be on an item, in a format
2837
agreed upon by the business and the appropriate law enforcement
2838
agency. This information must be provided to the appropriate law
2839
enforcement agency within 24 hours after entering into the
2840
contract unless other arrangements are made between the business
2841
and the law enforcement agency.
2842
Section 53. Subsection (10) of section 896.101, Florida
2843
Statutes, is amended to read:
2844
896.101 Florida Money Laundering Act; definitions;
2845
penalties; injunctions; seizure warrants; immunity.--
2846
(10) Any financial institution, licensed money services
2847
business transmitter, or other person served with and complying
2848
with the terms of a warrant, temporary injunction, or other court
2849
order, including any subpoena issued under the authority granted
2850
by s. 16.56 or s. 27.04, obtained in furtherance of an
2851
investigation of any crime in this section, including any crime
2852
listed as specified unlawful activity under this section or any
2853
felony violation of chapter 560, has immunity from criminal
2854
liability and is shall not be liable to any person for any lawful
2855
action taken in complying with the warrant, temporary injunction,
2856
or other court order, including any subpoena issued under the
2857
authority granted by s. 16.56 or s. 27.04. If any subpoena issued
2858
under the authority granted by s. 16.56 or s. 27.04 contains a
2859
nondisclosure provision, any financial institution, licensed
2860
money services business transmitter, employee or officer of a
2861
financial institution or licensed money services business
2862
transmitter, or any other person may not notify, directly or
2863
indirectly, any customer of that financial institution or
2864
licensed money services business transmitter whose records are
2865
being sought by the subpoena, or any other person named in the
2866
subpoena, about the existence or the contents of that subpoena or
2867
about information that has been furnished to the state attorney
2868
or statewide prosecutor who issued the subpoena or other law
2869
enforcement officer named in the subpoena in response to the
2870
subpoena.
2871
Section 54. Subsection (5) of section 896.104, Florida
2872
Statutes, is amended to read:
2873
896.104 Structuring transactions to evade reporting or
2874
registration requirements prohibited.--
2875
(5) INFERENCE.--Proof that a person engaged for monetary
2876
consideration in the business of a money funds transmitter, as
2877
defined in s. 560.103, s. 560.103(10) and who is transporting
2878
more than $10,000 in currency, or the foreign equivalent, without
2879
being licensed registered as a money transmitter or designated as
2880
an authorized vendor under the provisions of chapter 560, gives
2881
rise to an inference that the transportation was done with
2882
knowledge of the licensure registration requirements of chapter
2883
560 and the reporting requirements of this chapter.
2884
Section 55. Paragraph (g) of subsection (3) of section
2885
921.0022, Florida Statutes, is amended to read:
2886
921.0022 Criminal Punishment Code; offense severity ranking
2887
chart.--
2888
(3) OFFENSE SEVERITY RANKING CHART
2889
(g) LEVEL 7
| FloridaStatute | FelonyDegree | Description |
2890
| 316.027(1)(b) | 1st | Accident involving death, failure to stop; leaving scene. |
2891
| 316.193(3)(c)2. | 3rd | DUI resulting in serious bodily injury. |
2892
| 316.1935(3)(b) | 1st | Causing serious bodily injury or death to another person; driving at high speed or with wanton disregard for safety while fleeing or attempting to elude law enforcement officer who is in a patrol vehicle with siren and lights activated. |
2893
| 327.35(3)(c)2. | 3rd | Vessel BUI resulting in serious bodily injury. |
2894
| 402.319(2) | 2nd | Misrepresentation and negligence or intentional act resulting in great bodily harm, permanent disfiguration, permanent disability, or death. |
2895
| 409.920(2) | 3rd | Medicaid provider fraud. |
2896
| 456.065(2) | 3rd | Practicing a health care profession without a license. |
2897
| 456.065(2) | 2nd | Practicing a health care profession without a license which results in serious bodily injury. |
2898
| 458.327(1) | 3rd | Practicing medicine without a license. |
2899
| 459.013(1) | 3rd | Practicing osteopathic medicine without a license. |
2900
| 460.411(1) | 3rd | Practicing chiropractic medicine without a license. |
2901
| 461.012(1) | 3rd | Practicing podiatric medicine without a license. |
2902
| 462.17 | 3rd | Practicing naturopathy without a license. |
2903
| 463.015(1) | 3rd | Practicing optometry without a license. |
2904
| 464.016(1) | 3rd | Practicing nursing without a license. |
2905
| 465.015(2) | 3rd | Practicing pharmacy without a license. |
2906
| 466.026(1) | 3rd | Practicing dentistry or dental hygiene without a license. |
2907
| 467.201 | 3rd | Practicing midwifery without a license. |
2908
| 468.366 | 3rd | Delivering respiratory care services without a license. |
2909
| 483.828(1) | 3rd | Practicing as clinical laboratory personnel without a license. |
2910
| 483.901(9) | 3rd | Practicing medical physics without a license. |
2911
| 484.013(1)(c) | 3rd | Preparing or dispensing optical devices without a prescription. |
2912
| 484.053 | 3rd | Dispensing hearing aids without a license. |
2913
| 494.0018(2) | 1st | Conviction of any violation of ss. 494.001-494.0077 in which the total money and property unlawfully obtained exceeded $50,000 and there were five or more victims. |
2914
| 560.123(8)(b)1. | 3rd | Failure to report currency or payment instruments exceeding $300 but less than $20,000 by a money services business transmitter. |
2915
| 560.125(5)(a) | 3rd | Money services transmitter business by unauthorized person, currency or payment instruments exceeding $300 but less than $20,000. |
2916
| 655.50(10)(b)1. | 3rd | Failure to report financial transactions exceeding $300 but less than $20,000 by financial institution. |
2917
| 775.21(10)(a) | 3rd | Sexual predator; failure to register; failure to renew driver's license or identification card; other registration violations. |
2918
| 775.21(10)(b) | 3rd | Sexual predator working where children regularly congregate. |
2919
| 775.21(10)(g) | 3rd | Failure to report or providing false information about a sexual predator; harbor or conceal a sexual predator. |
2920
| 782.051(3) | 2nd | Attempted felony murder of a person by a person other than the perpetrator or the perpetrator of an attempted felony. |
2921
| 782.07(1) | 2nd | Killing of a human being by the act, procurement, or culpable negligence of another (manslaughter). |
2922
| 782.071 | 2nd | Killing of a human being or viable fetus by the operation of a motor vehicle in a reckless manner (vehicular homicide). |
2923
| 782.072 | 2nd | Killing of a human being by the operation of a vessel in a reckless manner (vessel homicide). |
2924
| 784.045(1)(a)1. | 2nd | Aggravated battery; intentionally causing great bodily harm or disfigurement. |
2925
| 784.045(1)(a)2. | 2nd | Aggravated battery; using deadly weapon. |
2926
| 784.045(1)(b) | 2nd | Aggravated battery; perpetrator aware victim pregnant. |
2927
| 784.048(4) | 3rd | Aggravated stalking; violation of injunction or court order. |
2928
| 784.048(7) | 3rd | Aggravated stalking; violation of court order. |
2929
| 784.07(2)(d) | 1st | Aggravated battery on law enforcement officer. |
2930
| 784.074(1)(a) | 1st | Aggravated battery on sexually violent predators facility staff. |
2931
| 784.08(2)(a) | 1st | Aggravated battery on a person 65 years of age or older. |
2932
| 784.081(1) | 1st | Aggravated battery on specified official or employee. |
2933
| 784.082(1) | 1st | Aggravated battery by detained person on visitor or other detainee. |
2934
| 784.083(1) | 1st | Aggravated battery on code inspector. |
2935
| 790.07(4) | 1st | Specified weapons violation subsequent to previous conviction of s. 790.07(1) or (2). |
2936
| 790.16(1) | 1st | Discharge of a machine gun under specified circumstances. |
2937
| 790.165(2) | 2nd | Manufacture, sell, possess, or deliver hoax bomb. |
2938
| 790.165(3) | 2nd | Possessing, displaying, or threatening to use any hoax bomb while committing or attempting to commit a felony. |
2939
| 790.166(3) | 2nd | Possessing, selling, using, or attempting to use a hoax weapon of mass destruction. |
2940
| 790.166(4) | 2nd | Possessing, displaying, or threatening to use a hoax weapon of mass destruction while committing or attempting to commit a felony. |
2941
| 794.08(4) | 3rd | Female genital mutilation; consent by a parent, guardian, or a person in custodial authority to a victim younger than 18 years of age. |
2942
| 796.03 | 2nd | Procuring any person under 16 years for prostitution. |
2943
| 800.04(5)(c)1. | 2nd | Lewd or lascivious molestation; victim less than 12 years of age; offender less than 18 years. |
2944
| 800.04(5)(c)2. | 2nd | Lewd or lascivious molestation; victim 12 years of age or older but less than 16 years; offender 18 years or older. |
2945
| 806.01(2) | 2nd | Maliciously damage structure by fire or explosive. |
2946
| 810.02(3)(a) | 2nd | Burglary of occupied dwelling; unarmed; no assault or battery. |
2947
| 810.02(3)(b) | 2nd | Burglary of unoccupied dwelling; unarmed; no assault or battery. |
2948
| 810.02(3)(d) | 2nd | Burglary of occupied conveyance; unarmed; no assault or battery. |
2949
| 810.02(3)(e) | 2nd | Burglary of authorized emergency vehicle. |
2950
| 812.014(2)(a)1. | 1st | Property stolen, valued at $100,000 or more or a semitrailer deployed by a law enforcement officer; property stolen while causing other property damage; 1st degree grand theft. |
2951
| 812.014(2)(b)2. | 2nd | Property stolen, cargo valued at less than $50,000, grand theft in 2nd degree. |
2952
| 812.014(2)(b)3. | 2nd | Property stolen, emergency medical equipment; 2nd degree grand theft. |
2953
| 812.014(2)(b)4. | 2nd | Property stolen, law enforcement equipment from authorized emergency vehicle. |
2954
| 812.0145(2)(a) | 1st | Theft from person 65 years of age or older; $50,000 or more. |
2955
| 812.019(2) | 1st | Stolen property; initiates, organizes, plans, etc., the theft of property and traffics in stolen property. |
2956
| 812.131(2)(a) | 2nd | Robbery by sudden snatching. |
2957
| 812.133(2)(b) | 1st | Carjacking; no firearm, deadly weapon, or other weapon. |
2958
| 817.234(8)(a) | 2nd | Solicitation of motor vehicle accident victims with intent to defraud. |
2959
| 817.234(9) | 2nd | Organizing, planning, or participating in an intentional motor vehicle collision. |
2960
| 817.234(11)(c) | 1st | Insurance fraud; property value $100,000 or more. |
2961
| 817.2341(2)(b)&(3)(b) | 1st | Making false entries of material fact or false statements regarding property values relating to the solvency of an insuring entity which are a significant cause of the insolvency of that entity. |
2962
| 825.102(3)(b) | 2nd | Neglecting an elderly person or disabled adult causing great bodily harm, disability, or disfigurement. |
2963
| 825.103(2)(b) | 2nd | Exploiting an elderly person or disabled adult and property is valued at $20,000 or more, but less than $100,000. |
2964
| 827.03(3)(b) | 2nd | Neglect of a child causing great bodily harm, disability, or disfigurement. |
2965
| 827.04(3) | 3rd | Impregnation of a child under 16 years of age by person 21 years of age or older. |
2966
| 837.05(2) | 3rd | Giving false information about alleged capital felony to a law enforcement officer. |
2967
| 838.015 | 2nd | Bribery. |
2968
| 838.016 | 2nd | Unlawful compensation or reward for official behavior. |
2969
| 838.021(3)(a) | 2nd | Unlawful harm to a public servant. |
2970
| 838.22 | 2nd | Bid tampering. |
2971
| 847.0135(3) | 3rd | Solicitation of a child, via a computer service, to commit an unlawful sex act. |
2972
| 847.0135(4) | 2nd | Traveling to meet a minor to commit an unlawful sex act. |
2973
| 872.06 | 2nd | Abuse of a dead human body. |
2974
| 893.13(1)(c)1. | 1st | Sell, manufacture, or deliver cocaine (or other drug prohibited under s. 893.03(1)(a), (1)(b), (1)(d), (2)(a), (2)(b), or (2)(c)4.) within 1,000 feet of a child care facility, school, or state, county, or municipal park or publicly owned recreational facility or community center. |
2975
| 893.13(1)(e)1. | 1st | Sell, manufacture, or deliver cocaine or other drug prohibited under s. 893.03(1)(a), (1)(b), (1)(d), (2)(a), (2)(b), or (2)(c)4., within 1,000 feet of property used for religious services or a specified business site. |
2976
| 893.13(4)(a) | 1st | Deliver to minor cocaine (or other s. 893.03(1)(a), (1)(b), (1)(d), (2)(a), (2)(b), or (2)(c)4. drugs). |
2977
| 893.135(1)(a)1. | 1st | Trafficking in cannabis, more than 25 lbs., less than 2,000 lbs. |
2978
| 893.135(1)(b)1.a. | 1st | Trafficking in cocaine, more than 28 grams, less than 200 grams. |
2979
| 893.135(1)(c)1.a. | 1st | Trafficking in illegal drugs, more than 4 grams, less than 14 grams. |
2980
| 893.135(1)(d)1. | 1st | Trafficking in phencyclidine, more than 28 grams, less than 200 grams. |
2981
| 893.135(1)(e)1. | 1st | Trafficking in methaqualone, more than 200 grams, less than 5 kilograms. |
2982
| 893.135(1)(f)1. | 1st | Trafficking in amphetamine, more than 14 grams, less than 28 grams. |
2983
| 893.135(1)(g)1.a. | 1st | Trafficking in flunitrazepam, 4 grams or more, less than 14 grams. |
2984
| 893.135(1)(h)1.a. | 1st | Trafficking in gamma-hydroxybutyric acid (GHB), 1 kilogram or more, less than 5 kilograms. |
2985
| 893.135(1)(j)1.a. | 1st | Trafficking in 1,4-Butanediol, 1 kilogram or more, less than 5 kilograms. |
2986
| 893.135(1)(k)2.a. | 1st | Trafficking in Phenethylamines, 10 grams or more, less than 200 grams. |
2987
| 896.101(5)(a) | 3rd | Money laundering, financial transactions exceeding $300 but less than $20,000. |
2988
| 896.104(4)(a)1. | 3rd | Structuring transactions to evade reporting or registration requirements, financial transactions exceeding $300 but less than $20,000. |
2989
| 943.0435(4)(c) | 2nd | Sexual offender vacating permanent residence; failure to comply with reporting requirements. |
2990
| 943.0435(8) | 2nd | Sexual offender; remains in state after indicating intent to leave; failure to comply with reporting requirements. |
2991
| 943.0435(9)(a) | 3rd | Sexual offender; failure to comply with reporting requirements. |
2992
| 943.0435(13) | 3rd | Failure to report or providing false information about a sexual offender; harbor or conceal a sexual offender. |
2993
| 943.0435(14) | 3rd | Sexual offender; failure to report and reregister; failure to respond to address verification. |
2994
| 944.607(9) | 3rd | Sexual offender; failure to comply with reporting requirements. |
2995
| 944.607(10)(a) | 3rd | Sexual offender; failure to submit to the taking of a digitized photograph. |
2996
| 944.607(12) | 3rd | Failure to report or providing false information about a sexual offender; harbor or conceal a sexual offender. |
2997
| 944.607(13) | 3rd | Sexual offender; failure to report and reregister; failure to respond to address verification. |
2998
| 985.4815(10) | 3rd | Sexual offender; failure to submit to the taking of a digitized photograph. |
2999
| 985.4815(12) | 3rd | Failure to report or providing false information about a sexual offender; harbor or conceal a sexual offender. |
3000
| 985.4815(13) | 3rd | Sexual offender; failure to report and reregister; failure to respond to address verification. |
3001
3002
Section 56. Sections 560.101, 560.102, 560.106, 560.1073,
3003
560.108, 560.112. 560.117, 560.200, 560.202, 560.206, 560.207,
3004
560.301, 560.302, 560.305, 560.306, 560.307, 560.308, 560.401,
3005
560.402, and 560.407, Florida Statutes, are repealed.
3006
Section 57. Except as otherwise expressly provided in this
3007
act, this act shall take effect October 1, 2008.
3008
3009
================ T I T L E A M E N D M E N T ================
3010
And the title is amended as follows:
3011
Delete everything before the enacting clause
3012
and insert:
3013
A bill to be entitled
3014
An act relating to money services businesses; changing the
3015
name of money transmitters to money services businesses;
3016
requiring licensure rather than registration; amending s.
3017
560.103, F.S.; revising definitions; defining the terms
3018
"affiliated party," "branch office," "cashing,"
3019
"compliance officer," "electronic instrument," "financial
3020
audit report," "foreign affiliate," "licensee,"
3021
"location," "monetary value," "net worth," "outstanding
3022
money transmission," and "stored value"; providing
3023
applicability for certain terms; amending s. 560.104,
3024
F.S.; revising provision providing exemptions from ch.
3025
560, F.S.; amending s. 560.105, F.S.; revising provisions
3026
relating to the powers of the Office of Financial
3027
Regulation and the Financial Services Commission; amending
3028
s. 560.109, F.S.; revising provisions relating to
3029
examinations and investigations conducted by the office;
3030
requiring that the office periodically examine each
3031
licensee and each new licensee within 6 months after
3032
issuing a license; requiring the office to report certain
3033
violations to a criminal investigatory agency; requiring
3034
that the office annually report to the Legislature
3035
information concerning investigations and examinations and
3036
the total amount of fines assessed and collected;
3037
requiring records in a language other than English to be
3038
translated; creating s. 560.1091, F.S.; authorizing the
3039
office to contract with third parties to conduct
3040
examinations; authorizing the commission to adopt rules
3041
relating to who can conduct examinations and the rates
3042
charged; creating s. 560.1092, F.S.; requiring persons
3043
examined to pay the expenses of examination as set by rule
3044
of the commission; providing for the deposit of funds
3045
collected from licensees; requiring payment for travel
3046
expenses and living expenses and compensation for persons
3047
making the examinations from such funds or from funds
3048
budgeted for such purposes; creating s. 560.110, F.S.;
3049
providing for record retention by licensees; amending s.
3050
560.111, F.S.; revising the list of prohibited acts by a
3051
money services business; amending s. 560.113, F.S.;
3052
providing for the establishment of a receivership or the
3053
payment of restitution by a person found to have violated
3054
ch. 560, F.S.; amending s. 560.114, F.S.; revising grounds
3055
for the disciplinary actions; creating s. 560.1141, F.S.;
3056
authorizing the commission to adopt disciplinary
3057
guidelines for imposing penalties for violations;
3058
providing for mitigating and aggravating circumstances;
3059
amending s. 560.115, F.S.; revising provisions relating to
3060
the voluntary surrender of a license; amending s. 560.116,
3061
F.S.; revising provisions relating to the granting of
3062
immunity for providing information about alleged
3063
violations of ch. 560, F.S.; amending s. 560.118, F.S.;
3064
revising provisions relating to required reports; deleting
3065
an exemption from the requirement to file an annual
3066
financial report; transferring, renumbering, and amending
3067
s. 560.119, F.S.; revising provisions providing for the
3068
deposit of fees and assessments; amending s. 560.121,
3069
F.S.; revising restriction on access to records held by a
3070
court or the Legislature; amending s. 560.123, F.S.;
3071
revising provisions relating to the Florida Control of
3072
Money Laundering in Money Services Business; creating s.
3073
560.1235, F.S.; requiring a licensee to comply with state
3074
and federal anti-money laundering laws and rules; amending
3075
s. 560.124, F.S.; revising provisions relating to sharing
3076
reported information; amending s. 560.125, F.S.; revising
3077
provisions relating to unlicensed activity; amending s.
3078
560.126, F.S.; revising provisions relating to certain
3079
notice requirements by a licensee; amending s. 560.127,
3080
F.S.; revising provisions relating to the control of a
3081
money services business; amending s. 560.128, F.S.;
3082
revising provisions relating to customer contacts and
3083
license display; amending s. 560.129, F.S.; revising
3084
provisions relating to the confidentiality of certain
3085
records; creating s. 560.140, F.S.; providing licensing
3086
standards for a money services business; creating s.
3087
560.141, F.S.; providing for a license application;
3088
creating s. 560.142, F.S.; providing for license renewal;
3089
creating s. 560.143, F.S.; providing for license fees;
3090
amending s. 560.203, F.S.; revising the exemption from
3091
licensure for authorized vendors of a money services
3092
business; amending s. 560.204, F.S.; revising provisions
3093
relating to the requirement for licensure of money
3094
transmitters or sellers of payment instruments under part
3095
II of ch. 560, F.S.; amending s. 560.205, F.S.; providing
3096
additional requirements for a license application;
3097
amending s. 560.208, F.S.; revising provisions relating to
3098
the conduct of a licensee; creating s. 560.2085, F.S.;
3099
providing requirements for authorized vendors; amending s.
3100
560.209, F.S.; revising provisions relating to a
3101
licensee's net worth and the filing of a corporate surety
3102
bond; requiring a financial audit report; increasing the
3103
upper limit of the bond; deleting the option of waiving
3104
the bond; amending s. 560.210, F.S.; revising provisions
3105
relating to permissible investments; amending s. 560.211,
3106
F.S.; revising provisions relating to required
3107
recordkeeping under part II of ch. 560, F.S.; amending s.
3108
560.212, F.S.; revising provisions relating to licensee
3109
liability; amending s. 560.213, F.S.; revising provisions
3110
relating information that must be printed on a payment
3111
instrument; amending s. 560.303, F.S.; revising provisions
3112
relating to the licensure of check cashers under part II
3113
of ch. 560, F.S.; amending s. 560.304, F.S.; revising
3114
provisions relating to exemptions from licensure; limiting
3115
the exemption for the payment of instruments below a
3116
certain value; amending s. 560.309, F.S.; revising
3117
provisions relating to the conduct of check cashers;
3118
providing additional requirements; amending s. 560.310,
3119
F.S.; revising requirements for licensee records;
3120
specifying the maintenance of identification records for
3121
certain customers; amending s. 560.402, F.S.; revising
3122
definitions relating to deferred presentment providers;
3123
amending s. 560.403, F.S.; revising provisions relating to
3124
the licensing requirements for deferred presentment
3125
providers; amending s. 560.404, F.S.; revising provisions
3126
relating to deferred presentment transactions; amending s.
3127
560.405, F.S.; revising provisions relating to the
3128
redemption or deposit of a deferred presentment
3129
transaction; amending s. 560.406, F.S.; revising
3130
provisions relating to worthless checks; amending ss.
3131
499.005, 499.0691, 501.95, 538.03, 896.101, 896.104, and
3132
921.0022, F.S.; conforming cross-references; repealing s.
3133
560.101, F.S., relating to a short title; repealing s.
3134
560.102, F.S., relating to purpose and application;
3135
repealing s. 560.106, F.S., relating to chapter
3136
constructions; repealing s. 560.1073, F.S., relating to
3137
false or misleading statements or documents; repealing s.
3138
560.108, F.S., relating to administrative enforcement
3139
guidelines; repealing s. 560.112, F.S., relating to
3140
disciplinary action procedures; repealing s. 560.117,
3141
F.S., relating to administrative fines; repealing s.
3142
560.200, F.S., relating to a short title; repealing s.
3143
560.202, F.S., relating to definitions; repealing s.
3144
560.206, F.S., relating to the investigation of
3145
applicants; repealing s. 560.207, F.S., relating to
3146
registration; repealing s. 560.301, F.S., relating to a
3147
short title; repealing s. 560.302, F.S., relating to
3148
definitions; repealing s. 560.305, F.S., relating to
3149
application for registration; repealing s. 560.306, F.S.,
3150
relating to standards; repealing s. 560.307, F.S.,
3151
relating to fees; repealing s. 560.308, F.S., relating to
3152
registration; repealing s. 560.401, F.S., relating to a
3153
short title; repealing s. 560.407, F.S., relating to
3154
required records; providing effective dates.
3/25/2008 12:29:00 PM 593-05550C-08
CODING: Words stricken are deletions; words underlined are additions.