The maturity date of the title loan agreement, which shall be 30 days after the date the title loan agreement, is executed by the title loan lender and the borrower.
A title loan agreement may be extended for one or more day periods by mutual consent of the title loan lender and the borrower. Each extension of a title loan agreement shall be executed in a separate extension agreement each of which shall comply with the requirements for executing a title loan agreement as provided in this act. The interest rate charged in any title loan extension agreement shall not exceed the interest rate charged in the related title loan agreement.
A title loan lender may not capitalize in any title loan extension agreement any unpaid interest due on the related title loan agreement or any subsequent extensions to that title loan agreement. An associated person who represents a Canadian dealer who has made a notice-filing under this subsection is exempt from the registration requirements of this section and may effect transactions in securities in this state as permitted for a dealer under Section Canadian dealers are NOT required to notice-file their branch office locations with the Office of Financial Regulation.
A dealer that is located in Canada, does not have an office or other physical presence in this state, and may effect transactions in securities on a limited basis. COM: Commercial Collection Agencies — Chapter Part V, Florida Statutes: The registration authorizes the holder to collect or solicit collection for commercial claims, asserted to be owed or due to another person, including third party collectors assignee of debts made by commercial business.
CCA: Consumer Collection Agencies — Chapter Part VI, Florida Statutes: This registration authorizes the holder to collect or attempt to collect consumer debts, asserted to be owed or due to another person, including third party collectors assignee of debts made by individual consumers.
A Consumer Collection Agency may also collect third party commercial debts as long as less than one-half of the collection revenue of such agency arises from the collection of commercial claims.
The license is not required for banks and certain other financial institutions doing business under state or federal laws. Each location is treated as an independent license and there are no branches. The license does not apply to title loans or pawns. An intermediary is a natural person residing in the state or a corporation, trust, partnership, association, or other legal entity registered with the Secretary of State to do business in the state, which facilitates the offer or sale of securities under Chapter To qualify for the exemption, issuers must meet certain eligibility requirements.
Associated person of a dealer means any person who for compensation refers, solicits, offers, or negotiates for the purchase or sale of securities. A person whose activities fall within this definition is required to register with the Office of Financial Regulation OFR as an associated person of a dealer pursuant to Section The OFR will not register any person as an associated person of a dealer, unless the dealer with which the associated person seeks registration, is lawfully registered with the OFR.
Note: Registration as an associated person of a dealer does not constitute registration as an associated person of an investment adviser, or vice-versa. The two associated person registrations are separate and distinct. Branch office means any location in this state of a dealer or investment adviser where one or more associated persons regularly conduct the business of rendering investment advice or effecting any transactions in, or inducing or attempting to induce the purchase or sale of any security, or any location that is held out as such.
Exclusions from the definition of branch office are set forth in Rule 69W Any person who claims entitlement to any of the exclusions bears the burden of proving such entitlement. A dealer is any person, other than an associated person under Chapter , Florida Statutes F.
The OFR will not register any person as an associated person of a dealer unless the dealer with which the associated person seeks registration is lawfully registered with the OFR.
Commercial Banks: a corporation that accepts deposits, makes loans, pays checks, and performs related services for the public. Credit Unions: a not-for-profit financial cooperative that makes personal loans and offers other consumer banking services to persons sharing a common bond. Common bonds typically include employees of a company, a labor union, a religious group or geographic area.
In Florida, the Office of Financial Regulation can authorize a foreign bank to operate an administrative office, representative office, agency office or branch office in this state. International Trust Company Representative Offices: representative offices of foreign trust companies operating in the United States.
In Florida, the Office of Financial Regulation can authorize a foreign trust company to operate a representative office in this state. Qualified Limited Service Affiliates: person or entity performing certain functions related to or for the benefit of an affiliated foreign trust entity.
Non-Deposit Trust Company: a corporation which is engaged as a trustee, fiduciary, or agent for individuals or businesses in the administration of trust funds, estates, custodial arrangements, stock transfer and registration, and other related services. Non-deposit trust companies may also engage in fiduciary investment management functions and estate planning. Associated person of any investment adviser means any person who for compensation refers, solicits, offers, or negotiates for the purchase or sale of investment advisory services.
A person whose activities fall within these definitions is required to register with the Office of Financial Regulation OFR as an associated person of a federal covered adviser pursuant to Section The federal covered adviser with which the associated person is seeking registration must be lawfully notice-filed with the OFR.
Note: Registration as an associated person of a federal covered adviser does not constitute registration as an associated person of a dealer, or vice-versa. You designate your agent-in-charge when you apply for licensure through the agency's MyProfile account. On a related matter, you are required you to notify us within 30 days if you or the agency have a change in name, address including e-mail , or telephone number.
This is quickly and easily done by logging in to the MyProfile account for you or the agency. Don't forget to log in for both if both have changes to be made! Your agency license does NOT authorize you to transact insurance. A license is issued when an applicant meets all of the eligibility requirements mandated by the statutes; however, authority to transact insurance is not established until you are appointed by the insurance company or companies.
The surety bond must be for the benefit of any appointing title insurer damaged by a violation by the title insurance agency of its contract with the appointing title insurer. If the surety bond is payable to multiple title insurers, the surety bond must provide that each title insurer is to be notified in the event a claim is made upon the surety bond or the bond is terminated.
The surety bond must remain in effect and unimpaired as long as the agency is appointed by a title insurer. The agency must provide written proof to the appointing title insurer or insurers on an annual basis evidencing that the surety bond is still in effect and unimpaired.
You will be e-mailed an invoice at the beginning of January that will have instructions on paying the surcharge. Each title insurance agency licensed to do business in this state shall maintain and submit information, including revenue, loss, and expense data to the Office of Insurance Regulation OIR to assist in the analysis of title insurance premium rates, title search costs, and the condition of the title insurance industry in this state. This information must be transmitted to the office annually after the reporting year.
The report is to be submitted no later than May 31 and it is to include the information collected from January 1 through December 31 for each title insurance agency from the prior year. Failure to submit the data required timely could result in the suspension of that title agency's license.
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