Fla. Admin. Code Ann. R. 19-7.016 - Close of Business
Any requests for funds to be returned or notification of funds to be wired for investment after 1:00 p.m. (EST) may be included in the following day's business. In the event that the Board is informed by 1:00 p.m. (EST) of a deposit for investment that day, and the funds are not transmitted to the Board's bank account by the close of business that day, which results in a shortfall, a fee shall be charged to the participant for each day until the shortfall is corrected. The fee will be based on the current overdraft fee charged by the bank on the amount of the shortfall.
Notes
Rulemaking Authority 218.405, 218.412 FS. Law Implemented 215.515 FS.
New 8-24-82, Formerly 19-7.16, Amended 6-26-95, 3-26-02, 9-5-10.
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