Florida Regulations 69U-100.0451: Unsafe and Unsound Examination Fees
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(1) In making a determination to assess any costs pursuant to Section 655.045(1)(c), F.S., OFR must consider the size and condition of the financial institution, the gravity of the violation, the prior conduct of the person(s) and institution involved, the time elapsed between the last state examinations, and the extent to which a material improvement has occurred in the condition of the financial institution, subsidiary, or service corporation, including, but not limited to, a change in ownership or management, or infusion of additional capital.
(2) OFR shall give notice to the financial institution, subsidiary, service corporation, or affiliate of the costs incurred. The notification shall contain the notice of opportunity for a hearing pursuant to Sections 120.569 and 120.57, F.S. A request for hearing must be received by OFR within 21 days of receipt of such notification by the financial institution. If the financial institution, subsidiary, service corporation, or affiliate does not timely request a hearing, mailing of the payment of the costs incurred must be postmarked not later than 30 days after the date of receipt of the notification that such costs are due.
(3) OFR shall levy a late payment of $100 per day or part thereof that payment of the costs incurred is overdue, unless it is excused for good cause due to incidental and isolated clerical omissions or other minor errors.
(4) If the financial institution, subsidiary, service corporation, or affiliate timely requests a hearing on the notification pursuant to Sections 120.569 and 120.57, F.S., no fines for late payment of the costs incurred shall begin to accrue until 31 days after issuance of a final administrative order requiring payment of costs incurred or the exhaustion of all judicial appeals, whichever occurs later. Failure to remit payment on the 31st day shall constitute intentional late payment, and OFR shall levy an administrative fine of $1,000 per day for each day the payment of costs incurred is overdue.
Rulemaking Authority Florida Statutes § 655.012(2). Law Implemented 655.045(1) FS. History-New 6-11-96, Formerly 3C-100.0451, Amended 1-18-21.
Terms Used In Florida Regulations 69U-100.0451
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(3) OFR shall levy a late payment of $100 per day or part thereof that payment of the costs incurred is overdue, unless it is excused for good cause due to incidental and isolated clerical omissions or other minor errors.
(4) If the financial institution, subsidiary, service corporation, or affiliate timely requests a hearing on the notification pursuant to Sections 120.569 and 120.57, F.S., no fines for late payment of the costs incurred shall begin to accrue until 31 days after issuance of a final administrative order requiring payment of costs incurred or the exhaustion of all judicial appeals, whichever occurs later. Failure to remit payment on the 31st day shall constitute intentional late payment, and OFR shall levy an administrative fine of $1,000 per day for each day the payment of costs incurred is overdue.
Rulemaking Authority Florida Statutes § 655.012(2). Law Implemented 655.045(1) FS. History-New 6-11-96, Formerly 3C-100.0451, Amended 1-18-21.