19B-16.004: Payment and Minimum Contributions
PURPOSE AND EFFECT: This rule revises the rights and role of the contingent benefactor related to investments in the Florida College Investment Plan.
SUMMARY: Provides that a contingent benefactor may not direct the investments of any contributions to the Investment Plan. The same prohibition applies to benefactors and designated beneficiaries. Conforms this rule to the changes to Rule 19B-16.008, F.A.C.
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: 1009.971(1), (4), (6) FS.
LAW IMPLEMENTED: 1009.98 FS.
IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE HELD AT THE DATE,TIME AND PLACE SHOWN BELOW(IF NOT REQUESTED, THIS HEARING WILL NOT BE HELD):
DATE AND TIME: October 31, 2008, 2:00 p.m.
PLACE: Suite 210, Hermitage Building, 1801 Hermitage Boulevard, Tallahassee, Florida
THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Thomas J. Wallace, Executive Director, 1801 Hermitage Boulevard, Suite 210, Tallahassee, Florida 32308, telephone (850)488-8514
THE FULL TEXT OF THE PROPOSED RULE IS:
19B-16.004 Payment and Minimum Contributions.
(1) No change.
(2) A Neither a benefactor, a contingent benefactor and nor a designated beneficiary shall not direct the investment of any contributions or amounts held in the Program.
(3) through (5) No change.
Specific Authority 1009.971(1), (4), (6) FS. Law Implemented 1009.981 FS. History–New 5-30-02, Amended 11-27-02, 12-28-03, 4-21-05,_________.