The purpose and effect of the proposed rule amendment will be to clarify that the Office may rely on an applicant's general history when determining if the applicant is financially responsible.

DEPARTMENT OF FINANCIAL SERVICES
Finance

RULE NO.: RULE TITLE:
69V-160.034: Failure to Demonstrate Financial Responsibility Defined
PURPOSE AND EFFECT: The purpose and effect of the proposed rule amendment will be to clarify that the Office may rely on an applicant's general history when determining if the applicant is financially responsible.
SUBJECT AREA TO BE ADDRESSED: Florida Consumer Finance Act, Financial Responsibility.
RULEMAKING AUTHORITY: 516.22(1), 516.23(3) FS.
LAW IMPLEMENTED: 516.07(1) FS.
IF REQUESTED IN WRITING AND NOT DEEMED UNNECESSARY BY THE AGENCY HEAD, A RULE DEVELOPMENT WORKSHOP WILL BE NOTICED IN THE NEXT AVAILABLE FLORIDA ADMINISTRATIVE WEEKLY.
THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE DEVELOPMENT AND A COPY OF THE PRELIMINARY DRAFT, IF AVAILABLE, IS: French Brown at [phone].

THE PRELIMINARY TEXT OF THE PROPOSED RULE DEVELOPMENT IS:

69V-160.034 Failure to Demonstrate Financial Responsibility Defined.

As used in Section 516.07(1)(c), F.S., failure to demonstrate “financial responsibility” means having a credit history that reflects any of the following: unpaid liens, judgments, repossessions, foreclosures or an otherwise general history of non-payment of  legal debts, or having filed a petition for bankruptcy under the federal Bankruptcy Code.

Rulemaking Authority 516.22(1), 516.23(3) FS. Law Implemented 516.07(1) FS. History–New 10-1-95, Formerly 3D-160.034, Amended _______.