Fla. Admin. Code Ann. R. 61-5.004 - Advancement of Funds
(1) The Department
is authorized to permit a temporary loan of funds to any Board operating at a
deficit. Any request for a loan shall be made to the Director of the Division
of Administration and shall state:
(a) That
the Board is currently operating at a deficit; and
(b) That the Board has already assessed a
one-time fee to eliminate the cash deficit or to maintain the financial
integrity of the profession within the last four years.
(2) Upon verification of the information
stated in the request, the Department shall loan funds sufficient to maintain a
reasonable cash balance.
(3) No
action taken under this section will extend beyond two years. All loans
authorized under this section will be repaid by the borrowing Board within two
years from the date of the loan. All loans authorized under this section will
be repaid with interest calculated at the then prevailing rates paid for
investments in the State Treasury to the credit of the Professional Regulation
Trust Fund.
Notes
Specific Authority 455.203(5) FS. Law Implemented 455.219(1), (2) FS.
New 8-28-95.
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