560.310 – Records of check cashers and foreign currency exchangers.
560.310 Records of check cashers and foreign currency exchangers.— (1) A licensee engaged in check cashing must maintain for the period specified in s. 560.1105 a copy of each payment instrument cashed. (2) If the payment instrument exceeds $1,000, the following additional information must be maintained or submitted: (a) Customer files, as prescribed by rule, on all customers who […]
560.312 – Database of payment instrument transactions; confidentiality.
560.312 Database of payment instrument transactions; confidentiality.— (1) Payment instrument transaction information held by the office pursuant to s. 560.310 which identifies a licensee, payor, payee, or conductor is confidential and exempt from s. 119.07(1) and s. 24(a), Art. I of the State Constitution. (2)(a) A licensee may access information that it submits to the office for inclusion […]
560.402 – Definitions.
560.402 Definitions.—For the purposes of this part, the term: (1) “Affiliate” means a person who, directly or indirectly, through one or more intermediaries controls, is controlled by, or is under common control with, a deferred presentment provider. (2) “Deferment period” means the number of days a deferred presentment provider agrees to defer depositing, presenting, or redeeming a payment […]
560.403 – Declaration of intent.
560.403 Declaration of intent.—Except for financial institutions as defined in s. 655.005, a person may not engage in a deferred presentment transaction unless the person is licensed as a money services business under part II or part III of this chapter and has on file with the office a declaration of intent to engage in deferred […]
560.404 – Requirements for deferred presentment transactions.
560.404 Requirements for deferred presentment transactions.— (1) Each deferred presentment transaction must be documented in a written agreement signed by the deferred presentment provider and the drawer. (2) The deferred presentment transaction agreement must be executed on the day the deferred presentment provider furnishes currency or a payment instrument to the drawer. (3) Each written agreement must, in addition […]
560.4041 – Database for deferred presentment providers; public records exemption.
560.4041 Database for deferred presentment providers; public records exemption.—Information that identifies a drawer or a deferred presentment provider contained in the database authorized under s. 560.404 is confidential and exempt from s. 119.07(1) and s. 24(a), Art. I of the State Constitution. A deferred presentment provider may access information that it has entered into the database […]
560.405 – Deposit; redemption.
560.405 Deposit; redemption.— (1) The deferred presentment provider or its affiliate may not present the drawer’s check before the end of the deferment period, except for a missed scheduled payment for a deferred presentment installment transaction that has not been otherwise deferred pursuant to s. 560.404(23), as reflected and described in the deferred presentment transaction agreement. (2) Before […]
560.406 – Worthless checks.
560.406 Worthless checks.— (1) If a check is returned to a deferred presentment provider from a payor financial institution due to lack of funds, a closed account, or a stop-payment order, the deferred presentment provider may seek collection pursuant to s. 68.065, except a deferred presentment provider may not collect treble damages. The notice sent by the […]
560.408 – Legislative intent; report.
560.408 Legislative intent; report.—It is the intent of the Legislature to provide for the regulation of deferred presentment transactions. It is further the intent of the Legislature to prevent fraud, abuse, and other unlawful activity associated with deferred presentment transactions in part by: (1) Providing for sufficient regulatory authority and resources to monitor deferred presentment transactions. (2) Preventing […]
560.212 – Financial liability.
560.212 Financial liability.—A licensee under this part is liable for the payment of all currency, monetary value, payment instruments, or virtual currency transmitted and payment instruments that it sells, in whatever form and whether directly or through an authorized vendor, as the maker, drawer, or principal thereof, regardless of whether such items are negotiable or nonnegotiable. […]