Section 15C-15.001 - Application of Definitions(1) "Bank Stamp" means a device which has its number and format recorded and approved by the Department of Highway Safety and Motor Vehicles, and is initialed or signed by an authorized official of the lending institution. Said device may be used by authorized lending institutions chartered by the State of Florida or the Federal government for validating the satisfaction of vessel liens.(2) "Builder's Certificate" means a federally authorized document which may be used by the builder of a vessel 5 net tons or more to certify as to the construction and initial ownership of said vessel.(3) "Bureau" means the Bureau of Vessel Titling and Registration of the Department of Environmental Protection.(4) "Lending Institution" means a legal business entity chartered by the State of Florida or the federal government from which money is borrowed for a fixed time on the borrower's promise to repay the amount borrowed at a stated time in the future with an agreed amount of interest.(5) "Conditional Title" means a certificate of vessel title issued by the Department with a caveat whereby the vessel owner agrees to indemnify the Department and its agents and defend the title against any and all claims or actions arising out of such issuance.Fla. Admin. Code Ann. R. 15C-15.001
Rulemaking Authority 327.04 FS. Law Implemented 327.02 FS.
New 10-16-84, Formerly 16N-34.01, 16N-34.001, 62N-34.001.New 10-16-84, Formerly 16N-34.01, 16N-34.001, 62N-34.001.