The Florida Senate

520.63  Licensees.--

(1)  A person may not engage in or transact any business as a home improvement finance seller or operate a branch without first obtaining a license from the department, except that a banking institution, trust company, savings and loan association, credit union authorized to do business in this state, or licensee under ss. 494.006-494.0077 is not required to obtain a license to engage in home improvement financing.

(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 home improvement finance 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 home improvement finance seller's principal place of business or any 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 home improvement finance seller except under the name by which it is licensed. A license issued under this part is 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 the state for service of process.

History.--s. 1, ch. 69-44; ss. 12, 35, ch. 69-106; s. 3, ch. 76-168; s. 1, ch. 77-457; s. 21, ch. 80-256; s. 2, ch. 81-318; s. 10, ch. 82-70; s. 18, ch. 87-91; ss. 19, 35, 36, ch. 90-103; s. 57, ch. 91-245; s. 4, ch. 91-429.