Fla. Admin. Code Ann. R. 69V-45.025 - Documentation of Surety Bond, Letter of Credit, or Certificate of Deposit

(1) The surety bond, letter of credit, or certificate of deposit required as a condition of licensure under section 537.005, F.S., shall be submitted to the Office of Financial Regulation with the application for licensure. The original shall be maintained by the Office of Financial Regulation. A copy of the surety bond shall be maintained at the principal place of business and made available to Office of Financial Regulation examiners upon request.

(2) In the event a licensee changes the issuer of the surety bond, letter of credit, certificate of deposit or the issuer of the surety bond cancels the bond, the licensee shall promptly inform the Office of Financial Regulation of such change in writing by U.S. certified mail and provide a new surety bond to the Office of Financial Regulation.

(3) Each surety bond shall be issued by a company authorized to do business in this state by the Office of Insurance Regulation.

Notes

Fla. Admin. Code Ann. R. 69V-45.025

Rulemaking Authority 537.016 FS. Law Implemented 537.005 FS.

New 10-1-00, Formerly 3D-45.025.

New 10-1-00, Formerly 3D-45.025.