To amend Rule 61G7-5.005, F.A.C. and Form DBPR EL 4505 to make the guarantor financially responsible until he or she specifically revokes the guarantee.

DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION
Board of Employee Leasing Companies

RULE NO: RULE TITLE
61G7-5.005: Deficiency in Tangible Accounting and Accounting Net Worth; Guaranty Form Acceptable to Board; Sufficient Evidence of Guarantor's Adequate Resources
PURPOSE AND EFFECT: To amend Rule 61G7-5.005, F.A.C. and Form DBPR EL 4505 to make the guarantor financially responsible until he or she specifically revokes the guarantee.
SUBJECT AREA TO BE ADDRESSED: The use of guaranties to offset any deficiency in tangible accounting net worth, accounting new worth, or working capital.
SPECIFIC AUTHORITY: 468.522 FS.
LAW IMPLEMENTED: 468.525(3) 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: Morrison, Executive Director, Board of Employee Leasing Companies, 1940 North Monroe Street, Tallahassee, Florida 32399-0767

THE PRELIMINARY TEXT OF THE PROPOSED RULE DEVELOPMENT IS NOT AVAILABLE.