Section 624.308(1), F.S., authorizes the Department of Financial Services to adopt rules to implement law that confers duties upon the Department. The reason that necessitates the proposed action is that modification is to delete the illegal ...  

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    DEPARTMENT OF FINANCIAL SERVICES

    Division of Insurance Agents and Agency Services

    RULE NO.:RULE TITLE:

    69B-235.003Sale of Certificates of Deposit

    PURPOSE AND EFFECT: Section 624.308(1), F.S., authorizes the Department of Financial Services to adopt rules to implement law that confers duties upon the Department. The reason that necessitates the proposed action is that modification is to delete the illegal standard to determine the Department’s duties related to refusal, suspension, or revocation of agent’s license in conjunction with the sale of Certificates of Deposit if an agent has been a source of loss to the public, pursuant to Section 626.621(6), F.S. The words “detrimental to public interest” as used in Section 626.621, F.S., were found to be unconstitutionally vague in Whitaker v. Department of Insurance and Treasurer, 680 So.2d 528 (Fla. 1st DCA 1996). The proposed amendments will update the rule to remove the illegal standard.

    SUBJECT AREA TO BE ADDRESSED: Standards and requirements for the Department’s refusal, suspension, or revocation of agent’s license in conjunction with the sale of Certificates of Deposit.

    RULEMAKING AUTHORITY: 624.308(1) FS.

    LAW IMPLEMENTED: 517.12, 624.307(1), 626.611, 626.621 FS.

    IF REQUESTED IN WRITING AND NOT DEEMED UNNECESSARY BY THE AGENCY HEAD, A RULE DEVELOPMENT WORKSHOP WILL BE HELD AT THE DATE, TIME AND PLACE SHOWN BELOW:

    DATE AND TIME: November 25, 2014, 10:00 a.m.

    PLACE: Room 142, Larson Building, 200 East Gaines Street, Tallahassee, Florida

    Pursuant to the provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this workshop/meeting is asked to advise the agency at least 5 days before the workshop/meeting by contacting: Barry Lanier at (850)413-5601 or Barry.Lanier@myfloridacfo.com. If you are hearing or speech impaired, please contact the agency using the Florida Relay Service, 1(800)955-8771 (TDD) or 1(800)955-8770 (Voice).

    THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE DEVELOPMENT AND A COPY OF THE PRELIMINARY DRAFT, IF AVAILABLE, IS: Barry Lanier, Chief, Bureau of Investigations, Room 416, Larson Building, 200 E. Gaines Street, Tallahassee, FL 32399-0320, (850)413-5601 or Barry.Lanier@MyFloridaCFO.com

    A copy of the text of the proposed changes can be found on the Department’s website at: http://www.myfloridacfo.com/Division/LegalServices/RuleWorkshopMeetings/default.asp

    THE PRELIMINARY TEXT OF THE PROPOSED RULE DEVELOPMENT IS AVAILABLE AT NO CHARGE FROM THE CONTACT PERSON LISTED ABOVE.

Document Information

Subject:
Standards and requirements for the Department’s refusal, suspension, or revocation of agent’s license in conjunction with the sale of Certificates of Deposit.
Purpose:
Section 624.308(1), F.S., authorizes the Department of Financial Services to adopt rules to implement law that confers duties upon the Department. The reason that necessitates the proposed action is that modification is to delete the illegal standard to determine the Department’s duties related to refusal, suspension, or revocation of agent’s license in conjunction with the sale of Certificates of Deposit if an agent has been a source of loss to the public, pursuant to Section 626.621(6), F.S. ...
Rulemaking Authority:
624.308(1), F.S.
Law:
517.12, 624.307(1), 626.611, 626.621, F.S.
Contact:
Barry Lanier, Chief, Bureau of Investigations, Room 416, Larson Building, 200 E. Gaines Street, Tallahassee, FL 32399-0320 (850)413-5601 or Barry.Lanier@MyFloridaCFO.com. A copy of the text of the proposed changes can be found on the Department’s website at: http://www.myfloridacfo.com/Division/LegalServices/RuleWorkshopMeetings/default.asp .
Related Rules: (1)
69B-235.003. Sale of Certificates of Deposit