Payqwick, Inc.; On August 28, 2017 a Final Order was issued. The petition sought a declaratory statement from the Office on whether Petitioner's proposed business activities (of operating a compliance based electronic payment hub to transact ...

 

DEPARTMENT OF FINANCIAL SERVICES

Finance

NOTICE IS HEREBY GIVEN that the Florida Office of Financial Regulation has declined to rule on the petition for declaratory statement filed by Payqwick, Inc. on June 5, 2017. The following is a summary of the agency’s declination of the petition:

On August 28, 2017 a Final Order was issued. The petition sought a declaratory statement from the Office on whether Petitioner's proposed business activities (of operating a compliance based electronic payment hub to transact throughout the entire marijuana supply chain) falls within Florida’s money transmitting licensing statute Chapter 560, Florida Statutes. In seeking a declaration based on the erroneous assumption that the specifically described distribution of marijuana is legal, Petitioner fails to show there is a bona fide, actual, present practical need for declaratory relief. As such, a declaratory statement is not available to Petitioner. Based on the foregoing Findings of Fact and Conclusions of Law, it is ordered that PayQwick, Inc.’s petition for declaratory statement is denied.

A copy of the Order Declining 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] or online at:

https://real.flofr.com/ConsumerServices/SearchLegalDocuments/LDSearch.aspx#/searchLegalDocuments.

Please refer all comments to: Agency Clerk, Office of Financial Regulation, P.O. Box 8050, Tallahassee, Florida 32314-8050, [phone], [e-mail].