69V-560.102. Application or Appointment Procedures and Requirements  

Effective on Thursday, November 28, 2019
  • 1(1) Applications for money service business licenses must be made in accordance with the provisions of Sections 18560.1401, 19560.141, 20and 21560.143, F.S. 23Further, application for a money services business license involving payment instrument sales or money transmission must also comply with Section 43560.205, F.S. 45The application form for applying hereunder is Application for Licensure as a Money Services Business, OFR-560-01, which is incorporated by reference in Rule 6869V-560.1012, 69F.A.C.

    70(2) Except for applicants that are publicly traded, each person listed in question 5G of the Application for Licensure as a Money Services Business, OFR-560-01, must submit fingerprints through a live-scan vendor approved by the Florida Department of Law Enforcement. A list of approved vendors is published on the Florida Department of Law Enforcement’s website at http://www.fdle.state.fl.us/Criminal-History-Records/Registered-LiveScan-Submitters. Such fingerprints will be submitted to the Florida Department of Law Enforcement for a state criminal background check and the Federal Bureau of Investigation for a Federal criminal background check. The cost of the fingerprinting process shall be borne by the applicant and paid directly to the live-scan vendor.

    176(3) Request for Additional Information. Any request for additional information will be made by the Office within thirty (30) days after receipt of the application. The additional information must be received by the Office within forty-five (45) days from the date of the request. The Office will grant a request for an additional forty-five (45) days to submit the additional information. The Office will not grant a request after the original forty-five (45) day deadline has passed. Failure to timely provide all additional information shall result in the application being deemed abandoned, which will result in the application being removed from further consideration by the Office and closed.

    284(4) Withdrawal of Application. An application may be withdrawn if the applicant submits a request 299through the REAL system (https://real.flofr.com/) 304before the application is approved or denied.

    311(5) Amendments to Pending Applications. 316If the information contained in any application form for licensure as a money services business, or in any amendment thereto, becomes inaccurate for any reason, the applicant shall promptly file an amendment correcting such information on Form OFR-560-01, which is incorporated by reference in Rule 36169V-560.1012, 362F.A.C. 363An applicant may amend the application as to those factors generally within the control or selection of the applicant once, as a matter of course, at any time within thirty (30) days from receipt of the application by the Office. Otherwise, the application may be amended only with prior written permission from the Office. The Office will grant permission to amend the application, unless the amendment constitutes a material change to the application. Requests to make changes which are material to the application will be deemed by the Office to be grounds for denial, and a new application, accompanied by the appropriate filing fee, will be required. 470Material changes include:

    473(a) Changes in net worth;

    478(b) The substitution or addition of a director, chief executive officer, chief financial officer, chief operations officer, chief legal officer, chief compliance officer, partner, member, joint venturer, responsible person, or controlling shareholder;

    510(c) Any change relating to the bond or collateral security item;

    521(d) A change to a response to the disclosure questions listed in section 6 on Form OFR-560-01; and,

    539(e) A change to disclosure questions listed in section 3 on the biographical summary on Form OFR-560-01.

    556Rulemaking Authority 558560.105, 559560.118, 560560.209, 561560.403 FS. 563Law Implemented 565560.1401, 566560.141, 567560.143, 568560.1235, 569560.204, 570560.205, 571560.209, 572560.303, 573560.403, 574943.053 FS. 576History–New 9-24-97, Amended 11-4-01, 12-11-03, Formerly 3C-560.102, Amended 7-15-07, 6-17-08, 12-25-08, 1-13-09, 1-2-14, 11-28-19.