Florida Regulations 69V-85.005: Amendments, Change of Name, Change of Entity and Change in Control or Ownership.
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(1) Each person licensed under chapter 520, F.S., which proposes to change its name, form of business organization, or any other information contained in any initial application form or any amendment thereto, must file an amendment pursuant to Florida Statutes § 520.999, not later than thirty-days (30) after the effective date of the change on: Application for License under Florida Statutes Chapter 520, Form OFR-520-01 and Application for Branch Office License, Form OFR-520-02. The forms are available on the Office’s website at www.flofr.gov and by mail from the Office of Financial Regulation, 200 East Gaines Street, Tallahassee, Florida 32399-0376. Name changes pursuant to this subsection shall not involve any change in controlling interest of the licensed entity.
(2) Each licensee under chapter 520, F.S., that proposes to change any personnel described in Sections 520.03, 520.32, 520.52, and 520.63, F.S., listed in any initial application or any amendment thereto must file an amendment not later than thirty-days (30) prior to the effective date of the change or within two (2) business days after the date the licensee first received notice of the change on Application for License under Florida Statutes Chapter 520, Form OFR-520-01 and Application for Branch Office License, Form OFR-520-02. In the event the change in personnel in Florida Statutes § 520.999, listed in any initial application or any amendment thereto results in the addition of anyone referenced in this subsection, such persons must comply with Florida Statutes § 520.999 unless such person has previously complied with Florida Statutes § 520.999, with an entity currently licensed under this chapter.
(3) Applications for licensure under Florida Statutes Chapter 520, required as a result of an acquisition of a controlling interest in a licensee pursuant to Florida Statutes § 520.999(2), must be filed in a timely manner as to allow the Office to complete its review of the application prior to the effective date of the acquisition, but not later than thirty (30) days prior to the date of such acquisition. Such applications must be filed in accordance with Sections 520.03, 520.32, 520.52, and 520.63, F.S.
(4) The office shall waive the requirement for a licensee to file a new application pursuant to Florida Statutes § 520.999(2) when:
(a) A person or group of persons proposing to purchase or acquire a controlling interest in a Florida Statutes Chapter 520, licensee has previously filed the information with the Office required in Sections 520.03, 520.32, 520.52 and 520.63, F.S., with a licensee to the office, provided that such person is currently affiliated with the licensee; or
(b) The acquirer is currently licensed with the office under Florida Statutes Chapter 520
(5) If the requirement to file a new application for a change in controlling interest is waived pursuant to subsection (4) of this rule, the licensee must file an amendment as prescribed in subsection (2) of this rule, to report the change in controlling interest.
(6) Forms OFR-520-01 and OFR-520-02 are incorporated by reference in subsections 69V-85.002(1) and 69V-85.003(1), F.A.C., respectively.
Rulemaking Authority 520.999, 520.994(5) FS. Law Implemented Florida Statutes § 520.999. History-New 12-20-07.
Terms Used In Florida Regulations 69V-85.005
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
(3) Applications for licensure under Florida Statutes Chapter 520, required as a result of an acquisition of a controlling interest in a licensee pursuant to Florida Statutes § 520.999(2), must be filed in a timely manner as to allow the Office to complete its review of the application prior to the effective date of the acquisition, but not later than thirty (30) days prior to the date of such acquisition. Such applications must be filed in accordance with Sections 520.03, 520.32, 520.52, and 520.63, F.S.
(4) The office shall waive the requirement for a licensee to file a new application pursuant to Florida Statutes § 520.999(2) when:
(a) A person or group of persons proposing to purchase or acquire a controlling interest in a Florida Statutes Chapter 520, licensee has previously filed the information with the Office required in Sections 520.03, 520.32, 520.52 and 520.63, F.S., with a licensee to the office, provided that such person is currently affiliated with the licensee; or
(b) The acquirer is currently licensed with the office under Florida Statutes Chapter 520
(5) If the requirement to file a new application for a change in controlling interest is waived pursuant to subsection (4) of this rule, the licensee must file an amendment as prescribed in subsection (2) of this rule, to report the change in controlling interest.
(6) Forms OFR-520-01 and OFR-520-02 are incorporated by reference in subsections 69V-85.002(1) and 69V-85.003(1), F.A.C., respectively.
Rulemaking Authority 520.999, 520.994(5) FS. Law Implemented Florida Statutes § 520.999. History-New 12-20-07.