Rules 69V-80.015, 69V-80.050, and 69V-80.060, F.A.C., pertaining to the licensure and renewal process for home improvement finance sellers are repealed. New rules pertaining to the licensure and renewal process for these persons are being proposed ...

DEPARTMENT OF FINANCIAL SERVICES
Finance

RULE NO: RULE TITLE
69V-80.003: Completion Certificates
69V-80.015: Application Procedure for Home Improvement Finance Seller License
69V-80.050: Home Improvement Finance Seller and Home Improvement Finance Seller Branch Office License Renewal and Reactivation
69V-80.060: Home Improvement Finance Seller Branch Office License
PURPOSE AND EFFECT: Rules 69V-80.015, 69V-80.050, and 69V-80.060, F.A.C., pertaining to the licensure and renewal process for home improvement finance sellers are repealed. New rules pertaining to the licensure and renewal process for these persons are being proposed under Rule Chapter 69V-85, F.A.C. The new rules will reflect and implement the changes to The Home Improvement Sales and Finance Act (Part IV, Chapter 520, F.S.) that are contained in Chapter 2006-213, Laws of Florida. A new rule is created to implement the completion certificate required by Section 520.81, Florida Statutes.
SUMMARY: Rules 69V-80.015, 69V-80.050, and 69V-80.060, F.A.C., pertaining to the licensure and renewal process for home improvement finance sellers are repealed. New rules pertaining to the licensure and renewal process for these persons are being proposed under Rule Chapter 69V-85, F.A.C. The new rules will reflect and implement the changes to The Home Improvement Sales and Finance Act (Part IV, Chapter 520, F.S.) that are contained in Chapter 2006-213, Laws of Florida. A new rule is created to implement the completion certificate required by Section 520.81, Florida Statutes.
SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS: No Statement of Estimated Regulatory Cost was prepared.
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.
SPECIFIC AUTHORITY: 520.81, 520.994, 520.63 FS.
LAW IMPLEMENTED: 520.81, 520.994, 520.63 FS.
IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE SCHEDULED AND ANNOUNCED IN FAW.
THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Gregory C. Oaks, Bureau Chief, 200 East Gaines Street, 6th Floor, The Fletcher Building, Tallahassee, Florida 32399-0375, [phone]

THE FULL TEXT OF THE PROPOSED RULE IS:

69V-80.003 Completion Certificates.

The completion certificate required by Section 520.81, F.S., Form OFR-520-03, is hereby incorporated by reference and available on the Office’s website at www.flofr.com and by mail from the Office of Financial Regulation, 200 East Gaines Street, Tallahassee, Florida 32399-0376.

Specific Authority 520.81(2), 520.994(5) FS. Law Implemented 520.81 FS. History–New________.

 

69V-80.015 Application Procedure for Home Improvement Finance Seller License.

(1) Each person desiring to obtain licensure as a home improvement finance seller shall apply to the Office of Financial Regulation by submitting the following:

(a) A completed Application for Home Improvement Finance Seller License, Form OFR-HC-1, revised 10/99, which is hereby incorporated by reference and available from the Office of Financial Regulation, 200 East Gaines Street, Tallahassee, Florida 32399-0375; and

(b) The statutory non-refundable application fee required by Section 520.63, F.S., which shall be the fee for the biennial period beginning January 1 of each odd-numbered year or any part thereof.

(2) Request for Additional Information. Any request for additional information will be made by the Office of Financial Regulation within thirty (30) calendar days after receipt of the application by the Office of Financial Regulation. The additional information must be received by the Office of Financial Regulation within forty-five (45) calendar days from the date of the request. Failure to respond to the request within forty-five (45) calendar days from the date of request shall be construed by the Office of Financial Regulation as grounds for denial for failure to complete the application and the application shall be denied pursuant to Section 120.60(1), F.S.

(3) Withdrawal of Application. An applicant may request withdrawal of an application prior to a determination of the application being made by the Office of Financial Regulation by submitting a written request that the application be withdrawn.

(4) Refunds. If the application is withdrawn or denied, the license fee is non-refundable.

(5) Upon approval of an application, a license will be issued for the remainder of the biennial licensure period.

(6) Restoration of Civil Rights.

(a) If one’s civil rights have been restored and the conviction did not directly relate to the operation of a retail installment business, the applicant shall provide evidence of restoration of civil rights.

(b) If one’s civil rights have been restored and the conviction directly related to the operation of a retail installment business, the applicant shall provide evidence of restoration of rights and rehabilitation. Evidence of rehabilitation should include, but is not limited to, employment history and letters from probation officers and employers.

Specific Authority 520.63(2), (3), 520.994(5) FS. Law Implemented 520.63(2) FS. History–New 4-13-88, Amended 5-9-90, 11-11-90, 9-28-94, 8-9-95, 7-10-96, 9-29-96, 12-8-99, Formerly 3D-80.015, Repealed________.

 

69V-80.050 Home Improvement Finance Seller and Home Improvement Finance Seller Branch Office License Renewal and Reactivation.

(1) Each active home improvement finance seller and home improvement finance seller branch office license shall be renewed for the biennial period beginning January 1 of each odd-numbered year, upon receipt of the statutory renewal fee required by Section 520.63, F.S., and the renewal/reactivation notice, Form OFR-HI-3, effective 10/99, which is hereby incorporated by reference and available by mail from the Office of Financial Regulation, 200 East Gaines Street, Tallahassee, Florida 32399-0375.

(2) If the Office of Financial Regulation has not received the renewal notice and renewal fee prior to January 1 of the renewal year, the license shall revert from active to inactive status. The inactive license may be reactivated within six (6) months after becoming inactive upon submission of the statutory renewal fee, a reactivation fee equal to the renewal fee, and the reactivation notice. A license that is not reactivated within six (6) months after becoming inactive automatically expires.

(3) A renewal notice and fee shall be considered submitted when received in the Office of Financial Regulation’s cashier’s office in Tallahassee, Florida.

(4) The received date shall be the date stamped on the notice when received by the Office of Financial Regulation’s cashier’s office in Tallahassee, Florida.

(5) Acting as “home improvement finance seller” as defined in Section 520.61(13), F.S., with an inactive or expired license is a violation of Chapter 520, F.S., and subjects the person to disciplinary action.

(6) Renewal via the Internet. In lieu of filing the paper version of the renewal form, a licensee may renew its license electronically by following the applicable instructions on the Office of Financial Regulation’s website (www.dbf.state.fl.us) on the Internet.

(7) If December 31 of the year is on a Saturday, Sunday or legal holiday pursuant to Section 110.117, F.S., then the renewals received on the next business day will be considered timely received.

Specific Authority 520.63(2), (3), 520.994(5) FS. Law Implemented 520.63(2), (3), 520.994(5) FS. History–New 4-13-88, Amended 11-11-90, 12-18-93, 9-29-96, 12-8-99, 12-25-00, Formerly 3D-80.050, Repealed________.

 

69V-80.060 Home Improvement Finance Seller Branch Office License.

(1) Every home improvement finance seller which conducts home improvement business in a branch office shall apply for a license to operate a branch office on Form OFR-HC-2, Application for Home Improvement Finance Seller Branch Office License, revised 10/99, which is hereby incorporated by reference and available from the Office of Financial Regulation, 200 East Gaines Street, Tallahassee, Florida 32399-0375. Any office or location shall be deemed to be a branch office if the name or advertising of a home improvement finance seller shall be displayed in such a manner as to reasonably lead the public to believe that such business may be conducted at such office, location, or advertised address.

(2) The statutory, non-refundable applicant fee for an initial branch office license required by Section 520.63, F.S., shall be for the biennial period beginning January 1 of each odd numbered year or any part thereof.

(3) Request for Additional Information. Any request for additional information will be made by the Office of Financial Regulation within thirty (30) calendar days after receipt of the application by the Office of Financial Regulation. The additional information must be received by the Office of Financial Regulation within forty-five (45) calendar days from the date of the request. Failure to respond to the request within forty-five (45) calendar days from the date of request shall be construed by the Office of Financial Regulation as grounds for denial for failure to complete the application and the application shall be denied pursuant to Section 120.60(1), F.S.

(4) Withdrawal of Application. An applicant may request withdrawal of an application prior to a determination of the application being made by the Office of Financial Regulation by submitting a written request that the application be withdrawn.

(5) Refunds. If the application is withdrawn or denied, the license fee is non-refundable.

(6) Upon approval of an application, a license will be issued for the remainder of the biennial licensure period.

Specific Authority 520.63(2), 520.994(5) FS. Law Implemented 520.63(2) FS. History–New 4-13-88, Amended 5-9-90, 11-11-90, 8-9-95, 7-10-96, 9-29-96, 12-8-99, Formerly 3D-80.060, Repealed ________.

NAME OF PERSON ORIGINATING PROPOSED RULE: Gregory C. Oaks, Bureau Chief, 200 East Gaines Street, 6th Floor, The Fletcher Building, Tallahassee, Florida 32399-0375, [phone]
NAME OF SUPERVISOR OR PERSON WHO APPROVED THE PROPOSED RULE: Financial Services Commission
DATE PROPOSED RULE APPROVED BY AGENCY HEAD: July 31, 2007
DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAW: March 16, 2007