Participation Agreement  

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    STATE BOARD OF ADMINISTRATION

    Florida Prepaid College Board

    RULE NO.:RULE TITLE:

    19B-18.003Participation Agreement

    NOTICE OF CHANGE

    Notice is hereby given that the following changes have been made to the proposed rule in accordance with subparagraph 120.54(3)(d)1., F.S., published in Vol. 42 No. 17, January 27, 2016 issue of the Florida Administrative Register.

    These changes are being made to address comments expressed by the Joint Administrative Procedures Committee.

    19B-18.003 Participation Agreement.

    The Participation Agreement, Form No. FPCB 2016-07, [Insert DoS Reference Website Link], is hereby incorporated by reference. The Terms and Conditions, applicable to the Participation Agreement, Form No. FPCB 2016-08, [Insert DoS Reference Website Link], is hereby incorporated by reference.

    Changes and comments to the incorporated Terms and Conditions, applicable to the Participation Agreement, Form No. FPCB 2016-08, include:

    1. Spacing fixed.

    2. Bracketed language regarding “but not limited to” to clarify the statement is general, rather than exhaustive and outside the control of the Board.

    3. Clarifying there is no approved “Request” form – account owners can use e-mail, letters or any other written medium.

    4 Limiting and clarifying language regarding “reasonable attempt.”

    5. Clarify “reasonable period of time” to mean within a time prescribed by the Secretary, applicable federal law, or if none, 120 days.

    6. Revision to add clarifying language that a “reasonable opportunity” is six (6) months.

    7. Revisions clarifying limitations on Board discretion in order to comply with federal laws and regulations and the Florida Legislature’s grant of authority.

    Rulemaking Authority 1009.971(1) and (4) FS; 1009.986(10) FS. Law Implemented 1009.986 FS. History–New_______.

Document Information

Related Rules: (1)
19B-18.003. Participation Agreement