Tiger Commissary Services, Inc.; On 4/30/2018, the Florida Office of Financial Regulation (Consumer Finance) received a Petition for Declaratory Statement from Tiger Commissary Services, Inc. The petition sought a declaratory statement from the ...

 

DEPARTMENT OF FINANCIAL SERVICES

Finance

NOTICE IS HEREBY GIVEN that the Florida Office of Financial Regulation has issued an order disposing of the petition for declaratory statement filed by Tiger Commissary Services, Inc. on April 30, 2018. The following is a summary of the agency's disposition of the petition:

On 4/30/2018, the Florida Office of Financial Regulation (Consumer Finance) received a Petition for Declaratory Statement from Tiger Commissary Services, Inc. The petition sought a declaratory statement from the Office on whether Petitioner is required to be licensed as a money service business. Petitioner argues that it is not engaged in the business of a money transmission because it does not receive funds for transmission. Rather, funds are received and/or transmitted entirely by third parties (i.e. jails and/or Heartland Payment Systems (HPS). On 7/26/2018, the Florida Office of Financial Regulation issued a Final Order on the Petition for Declaratory Statement. The Office determined Based upon the referenced findings of fact and Florida statutes, Petitioner is no longer required to hold a Part II money transmitter license for its new business model. A key element of 'money transmission' is that an entity receives currency or monetary value for the purpose of transmitting the same. While under the old business model Petitioner received currency or monetary value through a bank account that it controlled, under the new business model all currency or monetary value passes through Heartland. Therefore, Petitioner is no longer 'receiving' currency or monetary value for these transactions. Heartland may, however, be required to obtain a Part II money transmitter business license pursuant to chapter 560, Florida Statutes. Heartland is engaging in money transmissions, as they are receiving currency or monetary value from individuals for the purpose of transmitting the same to jail inmates.

A copy of the Order Disposing of the Petition for Declaratory Statement may be obtained by contacting: Agency Clerk, Office of Financial Regulation, P.O. Box 8050, Tallahassee, Florida 32314-8050, [phone], [e-mail].