The Florida Senate

520.03  Licenses.--

(1)  A person may not engage in the business of a motor vehicle retail installment seller or operate a branch of such business without a license as provided in this section; however, a bank, trust company, savings and loan association, or credit union authorized to do business in this state is not required to obtain a license under this part. If a motor vehicle retail installment seller has more than one location in the same county, only one license shall be required for that county.

(2)  An application for a license under this part must be submitted to the department on such forms as the department may prescribe by rule. If the department determines that an application should be granted, it shall issue the license for a period not to exceed 2 years. A nonrefundable application fee not exceeding $200 shall be set by rule and accompany an initial application for the principal place of business and each branch location of a retail installment seller.

(3)  A renewal fee not exceeding $200 shall be set by rule. Biennial licensure periods and procedures for renewal of licenses may also be established by the department by rule. A license that is not renewed at the end of the biennium established by the department shall automatically expire and revert to inactive status. Such inactive license may be reactivated within 6 months after the expiration date upon submission of a completed reactivation form, payment of the application fee, and payment of a reactivation fee equal to the application fee. A license that is not reactivated within 6 months after becoming inactive may not be reactivated.

(4)  Each license must specify the location for which it is issued and must be conspicuously displayed at that location. If a licensee's principal place of business or branch location changes, the licensee shall notify the department and the department shall endorse the change of location without charge. A licensee may not transact business as a motor vehicle retail installment seller except under the name by which it is licensed. Licenses issued under this part are not transferable or assignable.

(5)  The department may deny an initial application for a license under this part if the applicant or any person with power to direct the management or policies of the applicant is the subject of a pending criminal prosecution or governmental enforcement action, in any jurisdiction, until conclusion of such criminal prosecution or enforcement action.

(6)  Each seller shall designate and maintain an agent in this state for service of process.

History.--s. 2, ch. 57-799; s. 2, ch. 59-456; ss. 12, 35, ch. 69-106; s. 138, ch. 71-355; s. 1, ch. 73-276; s. 3, ch. 73-326; s. 3, ch. 76-168; s. 1, ch. 77-457; s. 150, ch. 79-164; ss. 2, 21, ch. 80-256; s. 2, ch. 81-318; ss. 1, 9, ch. 82-70; s. 1, ch. 87-91; ss. 3, 35, 36, ch. 90-103; s. 4, ch. 91-429.