Fla. Admin. Code R. 61G4-15.0021

Current through Reg. 51, No. 009; January 14, 2025

Section 61G4-15.0021 - Business Organizations

(1) For purposes of this rule practice as an individual is considered practice as a business organization. After the licensee qualifies one business organization, any request to qualify another business organization is subject to approval by the Board.

(2) If the business organization has a financially responsible officer, the financially responsible officer shall comply with the requirement of subsection 61G4-15.006(1), F.A.C., and shall provide to the Department a bond or irrevocable letter of credit, in the amount of $100,000 payable to the Board for fines and costs.

(3)

(a) The applicant seeking to qualify an additional business organization must appear before the Board unless the applicant otherwise qualifies for approval, and:

1. The applicant owns 20% or greater of the proposed business organization; or

2. The applicant demonstrates unequivocally that the applicant has been hired as a W-2 employee of the proposed business.

(b) Any applicant applying to qualify an additional business organization that will result in the applicant qualifying three or more business organizations must appear before the Board.

(4) Qualification of a business organization is only effective as to that business organization; subsidiaries or parents of qualified business organizations must be separately qualified.

Fla. Admin. Code Ann. R. 61G4-15.0021

Rulemaking Authority 489.108 FS. Law Implemented 489.103, 489.105, 489.115, 489.119, 489.1195 FS.

New 12-6-83, Formerly 21E-15.021, Amended 3-29-88, 8-8-88, 9-24-92, 12-28-92, Formerly 21E-15.0021, Amended 7-18-94, 7-5-95, 11-12-95, 2-6-96, 7-1-96, 9-3-96, 11-27-96, 11-13-97, 9-15-98, 7-7-05, 1-23-06, 10-22-06, 2-12-08, 12-13-09, Amended by Florida Register Volume 45, Number 029, February 12, 2019 effective 2/28/2019, Amended by Florida Register Volume 45, Number 181, September 17, 2019 effective 10/2/2019, Amended by Florida Register Volume 48, Number 061, March 29, 2022 effective 4/13/2022.