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Can you summarize FLCL 560.103?
GENERAL PROVISIONS (ss. 560.103-560.144) > Definitions.
Short Summary
This document, part of the Florida Statutes, regulates money services businesses in the state. It applies to persons located in or doing business in Florida who act as payment instrument sellers, foreign currency exchangers, check cashers, or money transmitters. The document provides definitions for various terms related to money services businesses, such as affiliated party, appropriate regulator, authorized vendor, branch office, cashing, check casher, compliance officer, conductor, control person, corporate payment instrument, currency, deferred presentment provider, department, electronic instrument, financial audit report, foreign affiliate, foreign currency exchanger, fraudulent identification paraphernalia, licensee, location, monetary value, money services business, money transmitter, net worth, office, outstanding money transmission, outstanding payment instrument, payment instrument, payment instrument seller, person, personal identification information, publicly traded, sells, stored value, virtual currency. The document does not specify penalties for non-compliance.
Whom does it apply to?
Persons located in or doing business in Florida who act as payment instrument sellers, foreign currency exchangers, check cashers, or money transmitters
What does it govern?
Regulation of money services businesses
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
Penalties for non-compliance are not specified in this document.
Jurisdiction
Florida