Fla. Admin. Code Ann. R. 61G4-15.006 - Financial Responsibility and Financial Stability, Grounds for Denial
(1) The financial responsibility ground on
which the Board shall refuse to qualify an applicant is failure to provide a
current consumer credit report, as defined in Rule
61G4-12.011, F.A.C., which
consumer credit report does not disclose any unsatisfied judgments or liens
against the applicant. In addition, there must not be any unsatisfied judgments
or liens against the business entity which the applicant previously qualified
as a primary qualifier or which the applicant has applied to qualify.
(2) The financial stability ground on which
the Board shall refuse to qualify an applicant is as follows:
(a) Failure to provide proof of a credit
score, FICO derived, of 660 or higher.
(b) Applicants who are unable to provide a
credit score, FICO derived, of 660 or higher, shall meet the financial
stability requirement by completion of a 14-hour financial responsibility
course approved by the Board.
(3) An applicant may meet both the financial
responsibility and financial stability requirements by providing proof of a
current consumer credit report, as defined in Rule
61G4-12.011, F.A.C, with a
credit score, FICO derived, of 660 or higher, which consumer credit report does
not disclose any unsatisfied judgments or liens against the applicant. In
addition, there must not be any unsatisfied judgments or liens against the
business entity which the applicant previously qualified as a primary qualifier
or which the applicant has applied to qualify.
Notes
Rulemaking Authority 489.115(5) FS. Law Implemented 489.115(5), (7) FS.
New 1-6-80, Amended 5-4-80, Formerly 21E-15.06, 21E-15.006, Amended 10-31-96, 11-13-97, 2-12-08, 4-13-22.
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