560.109 – Examinations and investigations.
560.109 Examinations and investigations.—The office may conduct examinations and investigations, within or outside this state to determine whether a person has violated any provision of this chapter and related rules, or of any practice or conduct that creates the likelihood of material loss, insolvency, or dissipation of the assets of a money services business or otherwise […]
560.126 – Required notice by licensee.
560.126 Required notice by licensee.— (1) A licensee must provide the office with a written notice sent by registered mail within 30 days after the occurrence or knowledge of, whichever period of time is greater, any of the following: (a) The filing of a petition under the United States Bankruptcy Code for bankruptcy or reorganization by the licensee. […]
560.1091 – Contracted examinations.
560.1091 Contracted examinations.—The office may contract with third parties to conduct examinations under this chapter. (1) The person or firm selected by the office may not have a conflict of interest that might affect its ability to independently perform its responsibilities with respect to an examination. (2) An examination under this section may be conducted by an independent […]
560.127 – Control of a money services business.
560.127 Control of a money services business.—A person has a controlling interest in a money services business if the person: (1) Possesses the power, directly or indirectly, to direct the management or policies of the money services business, whether through ownership, by contract, or otherwise; (2) Directly or indirectly may vote 25 percent or more of a class […]
560.1092 – Examination expenses.
560.1092 Examination expenses.— (1) Each licensee examined shall pay to the office the expenses of the examination at the rates adopted by the commission by rule. Such expenses shall include actual travel expenses, reasonable living expense allowance, compensation of the examiner or other person making the examination, and necessary attendant administrative costs of the office directly related […]
560.1105 – Records retention.
560.1105 Records retention.—Each licensee and its authorized vendors must maintain all books, accounts, documents, files, and information necessary for determining compliance with this chapter and related rules for 5 years unless a longer period is required by other state or federal law. (1) The records required under this chapter may be maintained by the licensee at any […]
560.111 – Prohibited acts.
560.111 Prohibited acts.— (1) A money services business, authorized vendor, or affiliated party may not: (a) Receive or possess any property except in payment of a just demand, and, with intent to deceive or defraud, to omit to make or to cause to be made a full and true entry thereof in its books and accounts, or to […]
560.113 – Injunctions; receiverships; restitution.
560.113 Injunctions; receiverships; restitution.— (1) If the office determines that any person has engaged in or is about to engage in any action that is a violation of this chapter or related rules, the office may, in addition to or in lieu of other remedies, bring an action on behalf of the state in the circuit court […]
560.114 – Disciplinary actions; penalties.
560.114 Disciplinary actions; penalties.— (1) The following actions by a money services business, authorized vendor, or affiliated party constitute grounds for the issuance of a cease and desist order; the issuance of a removal order; the denial, suspension, or revocation of a license; or taking any other action within the authority of the office pursuant to this […]
560.103 – Definitions.
560.103 Definitions.—As used in this chapter, the term: (1) “Affiliated party” means a control person, employee, or foreign affiliate of a money services business, or a person who has a controlling interest in a money services business as provided in s. 560.127. (2) “Appropriate regulator” means a state, federal, or foreign agency that has been granted authority to […]