Bill.com, LLC.; On 1/9/2020, the Florida Office of Financial Regulation (Consumer Finance) received a Petition for Declaratory Statement from Bill.com LLC. The petition seeks a declaratory statement from the Office whether (a service provider that ...

 

DEPARTMENT OF FINANCIAL SERVICES

Finance

NOTICE IS HEREBY GIVEN that the Florida Office of Financial Regulation has received the petition for declaratory statement from Bill.com, LLC. The petition seeks the agency’s opinion as to the applicability of Chapter 560, Florida Statutes, as it applies to the petitioner.

On 1/9/2020, the Florida Office of Financial Regulation (Consumer Finance) received a Petition for Declaratory Statement from Bill.com LLC. The petition seeks a declaratory statement from the Office whether (a service provider that enables businesses to transmit. payments to other business recipients via automated clearinghouse (“ACH”), credit or debit card, or wire transfer required to obtain a state money transmitter license if the customer funds in transit are held by a bank (in an account titled under the bank’s name for the benefit of the service provider's customers), but the service provider has a right to instruct the bank on the use of funds in the account, including to receive funds from the customer and to then send funds to the recipient based on the customer’s instructions) under the Florida Money Transmitter Statute, Chapter 560, Florida Statutes.

A copy of the Petition for Declaratory Statement may be obtained by contacting: Agency Clerk, Office of Financial Regulation, P.O. Box 8050, Tallahassee, Florida 32314-8050, [phone], [e-mail].

Please refer all comments to: Agency Clerk, Office of Financial Regulation, P.O. Box 8050, Tallahassee, Florida 32314-8050, [phone], [e-mail].