12193499, 69V-160.034 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 12193499

Notice of Proposed Rule

Department:

DEPARTMENT OF FINANCIAL SERVICES

Division:

Finance

Chapter:

FLORIDA CONSUMER FINANCE ACT

Overview

RULE:

69V-160.034

Failure to Demonstrate Financial Responsibility Defined

PURPOSE:

Section 516.07(1), F.S., allows an applicant to be denied if the person cannot demonstrate financial responsibility.  The amendment to Rule 69V-160.034, F.A.C., clarifies that failure to demonstrate financial responsibility means having a general history of unpaid liens, judgments, repossessions, foreclosures, legal debts or having filed a petition for bankruptcy.

SUMMARY:

The proposed amendment to Rule 69V-160.034, F.A.C., clarifies that the Office is not required to obtain a credit history.  Instead, the Office is permitted to review an applicant's general history to demonstrate financial responsibility.

RULEMAKING AUTHORITY:

516.22(1), 516.23(3) FS.

LAW:

516.07(1) FS.

PRINT PUBLISH DATE:

10/26/2012 Vol. 38/59

COMMENTS:

From 10/26/2012 To 11/16/2012 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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