Part I General Provisions 560.103 – 560.144
Part II Payment Instruments and Funds Transmission 560.203 – 560.213
Part III Check Cashing and Foreign Currency Exchange 560.303 – 560.312
Part IV Deferred Presentment 560.402 – 560.408

Terms Used In Florida Statutes > Chapter 560

  • Acquittal:
    1. Judgement that a criminal defendant has not been proved guilty beyond a reasonable doubt.
    2. A verdict of "not guilty."
     
  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Affiliated party: means a director, officer, responsible 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…. See Florida Statutes 560.103
  • 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.
  • Annual percentage rate: The cost of credit at a yearly rate. It is calculated in a standard way, taking the average compound interest rate over the term of the loan so borrowers can compare loans. Lenders are required by law to disclose a card account's APR. Source: FDIC
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Appendages: means the eyelids, the eyebrows, the conjunctiva, and the lacrimal apparatus. See Florida Statutes 463.002
  • Appropriate regulator: means a state, federal, or foreign agency that has been granted authority to enforce state, federal, or foreign laws related to a money services business or deferred presentment provider. See Florida Statutes 560.103
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Approved program: means a program for the education of certified chiropractic physician's assistants, which program has been formally approved by the board. See Florida Statutes 460.403
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Authorized vendor: means a person designated by a money services business licensed under part II of this chapter to act on behalf of the licensee at locations in this state pursuant to a written contract with the licensee. See Florida Statutes 560.103
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Bequest: Property gifted by will.
  • Board: means the Board of Chiropractic Medicine. See Florida Statutes 460.403
  • Board: means the Board of Podiatric Medicine as created in this chapter. See Florida Statutes 461.003
  • Board: means the Board of Optometry. See Florida Statutes 463.002
  • Branch office: means the physical location, other than the principal place of business, of a money services business operated by a licensee under this chapter. See Florida Statutes 560.103
  • Cashing: means providing currency for payment instruments except for travelers checks. See Florida Statutes 560.103
  • Certified optometrist: means a licensed practitioner authorized by the board to administer and prescribe ocular pharmaceutical agents. See Florida Statutes 463.002
  • Check casher: means a person who sells currency in exchange for payment instruments received, except travelers checks. See Florida Statutes 560.103
  • Chiropractic physician: means any person licensed to practice chiropractic medicine pursuant to this chapter. See Florida Statutes 460.403
  • Commission: means the Financial Services Commission. See Florida Statutes 560.103
  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Compliance officer: means the individual in charge of overseeing, managing, and ensuring that a money services business is in compliance with all state and federal laws and rules relating to money services businesses, as applicable, including all money laundering laws and rules. See Florida Statutes 560.103
  • Conductor: means a natural person who presents himself or herself to a licensee for purposes of cashing a payment instrument. See Florida Statutes 560.103
  • Contract: A legal written agreement that becomes binding when signed.
  • Conviction: A judgement of guilt against a criminal defendant.
  • Corporate payment instrument: means a payment instrument on which the payee named on the instrument's face is other than a natural person. See Florida Statutes 560.103
  • 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.
  • Counterclaim: A claim that a defendant makes against a plaintiff.
  • Currency: means the coin and paper money of the United States or of any other country which is designated as legal tender and which circulates and is customarily used and accepted as a medium of exchange in the country of issuance. See Florida Statutes 560.103
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Deferred presentment provider: means a person who is licensed under part II or part III of this chapter and has filed a declaration of intent with the office to engage in deferred presentment transactions as provided under part IV of this chapter. See Florida Statutes 560.103
  • Department: means the Department of Financial Services. See Florida Statutes 560.103
  • Department: means the Department of Health. See Florida Statutes 460.403
  • Department: means the Department of Health. See Florida Statutes 461.003
  • Department: means the Department of Health. See Florida Statutes 462.01
  • Department: means the Department of Health. See Florida Statutes 463.002
  • Devise: To gift property by will.
  • Direct supervision: means responsible supervision and control, with the licensed chiropractic physician assuming legal liability for the services rendered by a registered chiropractic assistant or a chiropractic student enrolled in a community-based intern program. See Florida Statutes 460.403
  • direct supervision: means supervision whereby a podiatric physician orders the X ray, remains on the premises while the X ray is being performed and exposed, and approves the work performed before dismissal of the patient. See Florida Statutes 461.003
  • Direct supervision: means supervision to an extent that the licensee remains on the premises while all procedures are being done and gives final approval to any procedures performed by an employee. See Florida Statutes 463.002
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • Electronic instrument: means a card, tangible object, or other form of electronic payment for the transmission or payment of money or the exchange of monetary value, including a stored value card or device that contains a microprocessor chip, magnetic stripe, or other means for storing information; that is prefunded; and for which the value is decremented upon each use. See Florida Statutes 560.103
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
  • Felony: A crime carrying a penalty of more than a year in prison.
  • Fiduciary: A trustee, executor, or administrator.
  • Financial audit report: means a report prepared in connection with a financial audit that is conducted in accordance with generally accepted auditing standards prescribed by the American Institute of Certified Public Accountants by a certified public accountant licensed to do business in the United States, and which must include:
    (a) Financial statements, including notes related to the financial statements and required supplementary information, prepared in conformity with accounting principles generally accepted in the United States. See Florida Statutes 560.103
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Foreign affiliate: means a person located outside this state who has been designated by a licensee to make payments on behalf of the licensee to persons who reside outside this state. See Florida Statutes 560.103
  • Foreign currency exchanger: means a person who exchanges, for compensation, currency of the United States or a foreign government to currency of another government. See Florida Statutes 560.103
  • Fraud: Intentional deception resulting in injury to another.
  • Fraudulent identification paraphernalia: means all equipment, products, or materials of any kind that are used, intended for use, or designed for use in the misrepresentation of a customer's identity. See Florida Statutes 560.103
  • General supervision: means the responsible supervision of supportive personnel by a licensee who need not be present when such procedures are performed, but who assumes legal liability therefor. See Florida Statutes 463.002
  • Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. Source: Federal Reserve
  • Hearsay: Statements by a witness who did not see or hear the incident in question but heard about it from someone else. Hearsay is usually not admissible as evidence in court.
  • Impeachment: (1) The process of calling something into question, as in "impeaching the testimony of a witness." (2) The constitutional process whereby the House of Representatives may "impeach" (accuse of misconduct) high officers of the federal government for trial in the Senate.
  • Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
  • Indirect supervision: means responsible supervision and control, with the licensed chiropractic physician assuming legal liability for the services rendered by a certified chiropractic physician's assistant. See Florida Statutes 460.403
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Legal tender: coins, dollar bills, or other currency issued by a government as official money. Source: U.S. Mint
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Licensed practitioner: means a person who is a primary health care provider licensed to engage in the practice of optometry under the authority of this chapter. See Florida Statutes 463.002
  • Licensee: means a person licensed under this chapter. See Florida Statutes 560.103
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Location: means a branch office, mobile location, or location of an authorized vendor whose business activity is regulated under this chapter. See Florida Statutes 560.103
  • minor: includes any person who has not attained the age of 18 years. See Florida Statutes 1.01
  • Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
  • Monetary value: means a medium of exchange, whether or not redeemable in currency. See Florida Statutes 560.103
  • Money services business: means any person located in or doing business in this state, from this state, or into this state from locations outside this state or country who acts as a payment instrument seller, foreign currency exchanger, check casher, or money transmitter. See Florida Statutes 560.103
  • Money transmitter: means a corporation, limited liability company, limited liability partnership, or foreign entity qualified to do business in this state which receives currency, monetary value, or payment instruments for the purpose of transmitting the same by any means, including transmission by wire, facsimile, electronic transfer, courier, the Internet, or through bill payment services or other businesses that facilitate such transfer within this country, or to or from this country. See Florida Statutes 560.103
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Naturopathy: shall be construed as synonymous terms and mean the use and practice of psychological, mechanical, and material health sciences to aid in purifying, cleansing, and normalizing human tissues for the preservation or restoration of health, according to the fundamental principles of anatomy, physiology, and applied psychology, as may be required. See Florida Statutes 462.01
  • Net worth: means assets minus liabilities, determined in accordance with United States generally accepted accounting principles. See Florida Statutes 560.103
  • Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
  • oath: includes affirmations. See Florida Statutes 1.01
  • Oath: A promise to tell the truth.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Ocular pharmaceutical agent: means a pharmaceutical agent that is administered topically or orally for the diagnosis or treatment of ocular conditions of the human eye and its appendages without the use of surgery or other invasive techniques. See Florida Statutes 463.002
  • Office: means the Office of Financial Regulation of the commission. See Florida Statutes 560.103
  • Officer: means an individual, other than a director, who participates in, or has authority to participate in, the major policymaking functions of a money services business, regardless of whether the individual has an official title or receives a salary or other compensation. See Florida Statutes 560.103
  • Optometry: means the diagnosis of conditions of the human eye and its appendages; the employment of any objective or subjective means or methods, including the administration of ocular pharmaceutical agents, for the purpose of determining the refractive powers of the human eyes, or any visual, muscular, neurological, or anatomic anomalies of the human eyes and their appendages; and the prescribing and employment of lenses, prisms, frames, mountings, contact lenses, orthoptic exercises, light frequencies, and any other means or methods, including ocular pharmaceutical agents, for the correction, remedy, or relief of any insufficiencies or abnormal conditions of the human eyes and their appendages. See Florida Statutes 463.002
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Payment instrument: means a check, draft, warrant, money order, travelers check, electronic instrument, or other instrument, payment of money, or monetary value whether or not negotiable. See Florida Statutes 560.103
  • Payment instrument seller: means a corporation, limited liability company, limited liability partnership, or foreign entity qualified to do business in this state which sells a payment instrument. See Florida Statutes 560.103
  • Person: means an individual, partnership, association, trust, corporation, limited liability company, or other group, however organized, but does not include a public agency or instrumentality thereof. See Florida Statutes 560.103
  • person: includes individuals, children, firms, associations, joint adventures, partnerships, estates, trusts, business trusts, syndicates, fiduciaries, corporations, and all other groups or combinations. See Florida Statutes 1.01
  • Person: means any individual, corporation, association, partnership, reciprocal exchange, interinsurer, Lloyds insurer, fraternal benefit society, or business trust or any entity involved in the business of insurance. See Florida Statutes 626.9511
  • Personal identification information: means a customer's name that, alone or together with any of the following information, may be used to identify that specific customer:
    (a) Customer's signature. See Florida Statutes 560.103
  • Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
  • Podiatric physician: means any person licensed to practice podiatric medicine pursuant to this chapter. See Florida Statutes 461.003
  • political subdivision: include counties, cities, towns, villages, special tax school districts, special road and bridge districts, bridge districts, and all other districts in this state. See Florida Statutes 1.01
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • Practice of chiropractic medicine: means a noncombative principle and practice consisting of the science, philosophy, and art of the adjustment, manipulation, and treatment of the human body in which vertebral subluxations and other malpositioned articulations and structures that are interfering with the normal generation, transmission, and expression of nerve impulse between the brain, organs, and tissue cells of the body, thereby causing disease, are adjusted, manipulated, or treated, thus restoring the normal flow of nerve impulse which produces normal function and consequent health by chiropractic physicians using specific chiropractic adjustment or manipulation techniques taught in chiropractic colleges accredited by the Council on Chiropractic Education. See Florida Statutes 460.403
  • Practice of podiatric medicine: means the diagnosis or medical, surgical, palliative, and mechanical treatment of ailments of the human foot and leg. See Florida Statutes 461.003
  • Probable cause: A reasonable ground for belief that the offender violated a specific law.
  • Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
  • Registered chiropractic assistant: means a person who is registered by the board to perform chiropractic services under the direct supervision of a chiropractic physician or certified chiropractic physician's assistant. See Florida Statutes 460.403
  • registered mail: include certified mail with return receipt requested. See Florida Statutes 1.01
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Responsible person: means an individual who is employed by or affiliated with a money services business and who has principal active management authority over the business decisions, actions, and activities of the money services business in this state. See Florida Statutes 560.103
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Sells: means to sell, issue, provide, or deliver. See Florida Statutes 560.103
  • Service of process: The service of writs or summonses to the appropriate party.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Statute: A law passed by a legislature.
  • Stored value: means funds or monetary value represented in digital electronic format, whether or not specially encrypted, and stored or capable of storage on electronic media in such a way as to be retrievable and transferred electronically. See Florida Statutes 560.103
  • Subpoena: A command to a witness to appear and give testimony.
  • Subpoena duces tecum: A command to a witness to produce documents.
  • Surgery: means a procedure using an instrument, including a laser, scalpel, or needle, in which human tissue is cut, burned, scraped except as provided in…. See Florida Statutes 463.002
  • Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
  • Testify: Answer questions in court.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Trainee: means a person who is currently enrolled in an approved program. See Florida Statutes 460.403
  • Transcript-quality: means a course which is in conjunction with or sponsored by a school or college of optometry or equivalent educational entity, which course is approved by the board and requires a test and passing grade. See Florida Statutes 463.002
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • Trustee: A person or institution holding and administering property in trust.
  • Usury: Charging an illegally high interest rate on a loan. Source: OCC
  • writing: includes handwriting, printing, typewriting, and all other methods and means of forming letters and characters upon paper, stone, wood, or other materials. See Florida Statutes 1.01