Fresh Form, Utilization of Certificate of Deposit in Lieu of Bond

DEPARTMENT OF CITRUS

RULE NO.: RULE TITLE:
20-9.001: Fresh Form
20-9.008: Utilization of Certificate of Deposit in Lieu of Bond

NOTICE OF CHANGE

Notice is hereby given that the following changes have been made to the proposed rule in accordance with subparagraph 120.54(3)(d)1., F.S., published in Vol. 38 No. 34, August 24, 2012 issue of the Florida Administrative Weekly.

20-9.001(2) Payment guaranteed by bond, deposit, or letter of credit: To guarantee payment of assessments, handlers shall post a surety bond, cash bond, certificate of deposit or letter of credit, as provided in either Section 20-9.005 or 20-9.008 or ______, F.A.C.

20-9.008(3) The certificate of deposit shall be issued in the name of the licensed handler and accompanied by the State of Florida, Department of Citrus. The handler shall present a certificate of deposit and an executed assignment of such handler's interest in the certificate in favor of the State of Florida, Department of Citrus on the Assignment form cit/rev/07 rev. 7-11-07, incorporated by reference in 20-100.004(38) and a letter from the issuing bank acknowledging the assignment of the certificate of deposit to the State of Florida, Department of Citrus a form to be provided by the Department of Citrus.