Fla. Admin. Code Ann. R. 69V-559.800 - Conclusion of Sandbox Period and Business Operations

(1) In accordance with Section 559.952(7)(c), F.S., written notification to consumers regarding the conclusion of the initial or extended sandbox period must be provided in the following manner:

a. Electronic notification via email or text messages, provided the email address or phone number used for the notification was provided by the customer as a part of the account creation or maintenance process, and the email address or phone number has been verified by the licensee as belonging to the customer; or

b. A letter sent First Class mail through the United States Postal Service.

(2) In addition to those items required in Section 559.952(7)(c), F.S., the written notification to consumers shall at a minimum include the following:

(a) Date of the notice;

(b) The expiration date of the sandbox period;

(c) Outstanding balance owed to the licensee;

(d) Transaction date and amount of any outstanding money transmissions or payment instruments sold to the customer;

(e) The name and telephone number of a contact person(s) whom the customer may contact after the conclusion of the sandbox period or extended sandbox period;

(f) How the consumer can make payments after the conclusion of the sandbox period;

(g) Address where payments may be made for any outstanding balances owed to the sandbox innovator; and

(h) Any changes in the licensee's contact information including where to make payments.

Notes

Fla. Admin. Code Ann. R. 69V-559.800

Rulemaking Authority 559.952(11)(a) FS. Law Implemented 559.952(7)(c), 559.952(11)(a) FS.

Adopted by Florida Register Volume 47, Number 002, January 5, 2021 effective 1/18/2021.

New 1-18-21.