The proposed rule amendment will repeal the rule. The Office has identified the rule as unnecessary as the result of the comprehensive rule review that it undertook pursuant to Sections 120.74 and 120.745, F.S. Rule 69V-560.901, F.A.C., relating to ...

DEPARTMENT OF FINANCIAL SERVICES
Finance

RULE NO.: RULE TITLE:
69V-560.901: Scope
PURPOSE AND EFFECT: The proposed rule amendment will repeal the rule. The Office has identified the rule as unnecessary as the result of the comprehensive rule review that it undertook pursuant to Sections 120.74 and 120.745, F.S. Rule 69V-560.901, F.A.C., relating to scope, is merely descriptive and does not impose any regulatory requirements.
SUMMARY: The proposed rule amendment will repeal the rule. The Office has identified the rule as unnecessary as the result of the comprehensive rule review that it undertook pursuant to Sections 120.74 and 120.745, F.S. Rule 69V-560.901, F.A.C., relating to scope, is merely descriptive and does not impose any regulatory requirements.
SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS AND LEGISLATIVE RATIFICATION:
The Agency has determined that this will not have an adverse impact on small business or likely increase directly or indirectly regulatory costs in excess of $200,000 in the aggregate within one year after the implementation of the rule. A SERC has not been prepared by the agency.
Any person who wishes to provide information regarding a statement of estimated regulatory costs, or provide a proposal for a lower cost regulatory alternative must do so in writing within 21 days of this notice.
RULEMAKING AUTHORITY: 560.105, 560.404(23) FS.
LAW IMPLEMENTED: 560.404 FS.
IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE SCHEDULED AND ANNOUNCED IN THE FAW.
THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Andy Grosmaire, Chief, Bureau of Finance Regulation, [phone], [e-mail]

THE FULL TEXT OF THE PROPOSED RULE IS:

69V-560.901 Scope.

This section contains the specific requirements for deferred presentment providers with respect to the procedures employed to accomplish a deferred presentment transaction.

Rulemaking Specific Authority 560.105, 560.404(23) FS. Law Implemented 560.404 FS. History–New 12-17-01, Formerly 3C-560.901, Repealed_________.

NAME OF PERSON ORIGINATING PROPOSED RULE: Greg Oaks, Director, Division of Finance
NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Financial Services Commission
DATE PROPOSED RULE APPROVED BY AGENCY HEAD: March 20, 2012