69V-180.010: Commercial Collection Surety Bond and Procedures
IN RE: Administrative Proceeding
No: 1192-FR-2/11
STILLWELL & STONE, LLC
____________________________________/
NOTICE OF CLAIMS AGAINST SURETY BOND
The State of Florida Office of Financial Regulation (Office) being authorized and directed to administer the Surety Bond (the Bond) pursuant to Section 559.546(2), Florida Statutes, enters this Notice of Claims against the Surety Bond arising from alleged violations of the provisions of Chapter 559, Florida Statutes, by Stillwell & Stone, LLC (S&S).
FINDINGS OF FACT
1. S&S have a surety bond of $50,000 through Nova Casualty Company.
2. On or about January 31, 2011, Nova Casualty Company informed the Office that it had received claims against the bond that would exceed the amount of the $50,000 bond.
3. The Office has to enter an order for a Notice of Intent to grant or deny payment 6 months after the date of receipt of the first claim against the bond.
4. The first proper claim against the Bond was on December 22, 2010.
CONCLUSIONS OF LAW
5. Section 559.546(2), Florida Statutes, provides in relevant part:
(2) The liability of the surety under any bond issued pursuant to the requirements of this part shall not exceed in the aggregate the amount of the bond, regardless of the number or amount of any claims filed or which might be asserted against the surety on such bond. If multiple claims are filed against the surety on any such bond in excess of the amount of the bond, the surety may pay the full amount of the bond to the office and shall not be further liable under the bond. The office shall hold such funds for distribution to claimants and administratively determine and pay to each claimant the pro rata share of each valid claim made against the funds within 6 months after the date of the filing of the first claim against the surety.
6. Rule 69V-180.010, Florida Administrative Code, provides in relevant part:
(2)(a) In the event that the surety has received claims within a six (6) month period, whether or not reduced to judgment, which exceed the amount due by the surety on the bond, the surety may pay the amount due on the bond to the Office of Financial Regulation and shall not be further liable on the bond. At the time payment is made by the surety to the Office of Financial Regulation, the surety shall provide the Office of Financial Regulation with copies of all claims made on the bond. Only valid claims made against the bond within six (6) months after the date of receipt of the first claim against the bond shall be paid. Subsequent to the expiration of the six-month period, the Office of Financial Regulation shall notice its intent to approve or deny the claims on file with the Office of Financial Regulation. The entry of a valid final judgment against the commercial collection agency or the surety shall be conclusive evidence of a valid claim. In the event that the claimant has not reduced the claim to judgment, the claimant may provide evidence to the Office of Financial Regulation pursuant to Section 120.57, Florida Statutes. Should the amount of valid claims exceed the amount on deposit with the Office of Financial Regulation, payment shall be based on the ratio that the persons claim bears to the total claims filed.
7. The Office received the first proper claim against the bond on December 22, 2010. Accordingly, the 6 month period mandated by Section 559.546(2), Florida Statutes, and Rule 69V-180.010, Florida Administrative Code, began to run on said date and will expire on June 22, 2011.
8. Claimants shall have until June 22, 2011 to file their claims with the Office pursuant to Section 559.546, Florida Statutes, and Rule 69V-180.010, Florida Administrative Code at which point the Office will issue a notice of intent to approve or deny claims.
NOTICE OF RIGHTS
NOTICE IS HEREBY GIVEN that Respondent may request a hearing to be conducted in accordance with the provisions of Sections 120.569 and 120.57, Florida Statutes. Requests for such a hearing must comply with the provisions of subsection 28-106.104(2) and Rule 28-106.2015, Florida Administrative Code. Your request must be filed within twenty-one (21) days after the publication of this notice in Florida Administrative Weekly. Claims should be filed with:
Agency Clerk
Office of Financial Regulation
Legal Services Office
P. O. Box 8050
Tallahassee, Florida 32314-8050
(850)410-9896
Facsimile: (850)410-9645
Failure to respond within twenty-one (21) days of publication of this notice in Florida Administrative Weekly shall be deemed a waiver of all rights to a hearing, and Final Order will be entered without further notice. Should you request such a hearing, you will have the right to be represented by counsel or other qualified representative to offer testimony, either written or oral, to call and cross-examine witnesses, and to have subpoenas and subpoenas duces tecum issued on your behalf.
Pursuant to Section 120.573, Florida Statutes, you are advised that mediation is not available.
_________________________
Monique Sanoguet, Esq.
Assistant General Counsel
Office of Financial Regulation
P. O. Box 8050
Tallahassee, FL 32399-8050
Telephone: (850)410-9896
Facsimile: (850)410-9645
CERTIFICATE OF SERVICE
I HEREBY CERTIFY that on the 25th of March, 2011, a true and correct copy of the foregoing Notice of Claims Against Surety Bond was sent by U.S. MAIL to the following:
Amy Cook Marine Foods Express, LTD.
Bond Claim Department Attn: Julie Ong
The Hanover Insurance Group 5757 South Loop East
440 Lincoln Street Houston, TX 77033
Worcester, MA 01653
Stiwell & Stone, LLC Karl Stanley
2600 K Ave., #251 3528 Camiro Trail
Plano, TX 75074 McKinley, TX 75074
Jeffrey Buono Hightech Signs
7012 Amethyst Lane Attn: Ben Foster
Plano, TX 75025 2165 Seminole Trail
Charlottesville, VA 22901
FJB Water Technology Gypsum Floors of Ar/Ok, Inc.
Attn: Frank Baumann, P.E. Attn: Jeanneane Pinner
509 First Street, #303 P. O. Box 1707
Snohomish, WA 98290 Muldrow, OK 74948
As well as submitted for publication in the Florida Administrative Weekly on March 25, 2011
_________________________
Monique Sanoguet, Esq.
Assistant General Counsel
Office of Financial Regulation
P. O. Box 8050
Tallahassee, FL 32399-8050
Telephone: (850)410-9648
