The Florida Senate

560.122  Registration of existing money transmitters.--The registration of all sellers of payment instruments having an active license pursuant to this chapter on the effective date of this code shall remain in effect until April 30, 1996. All other money transmitters operating in this state on the effective date of this act are required to file a registration application with the department on or before December 31, 1994. Before December 31, 1994, an applicant may continue to operate as a money transmitter unless the department denies the applicant's registration request. ¹A money transmitter that timely submits an application, and was operating and unregistered as of the effective date of this act, shall be permitted to operate as a money transmitter until April 30, 1996, unless the department sooner denies the application or unless a registration approved by the department is sooner suspended, revoked, or surrendered.

History.--s. 1, ch. 94-238; s. 1, ch. 94-354.

¹Note.--As enacted by s. 1, ch. 94-238. This sentence, as enacted by s. 1, ch. 94-354, reads: "A money transmitter which timely submits an application, and was operating and unregistered as of the effective date of this act shall be permitted to operate as a money transmitter until April 30, 1996, or until such earlier time as the application of such money transmitter is denied by the department or if any registration approved by the department is suspended, revoked, or surrendered."