The Florida Senate

560.309  Rules.--

(1)  Before a registrant shall deposit, with any financial institution, a payment instrument that is cashed by a registrant, each such item must be endorsed with the actual name under which such registrant is doing business.

(2)  Registrants must comply with all the laws of this state and any federal laws relating to money laundering, including, as applicable, the provisions of s. 560.123

(3)  The commission may by rule require every check casher to display its registration and post a notice containing its charges for cashing payment instruments.

(4)  Exclusive of the direct costs of verification which shall be established by commission rule, no check casher shall:

(a)  Charge fees, except as otherwise provided by this part, in excess of 5 percent of the face amount of the payment instrument, or 6 percent without the provision of identification, or $5, whichever is greater;

(b)  Charge fees in excess of 3 percent of the face amount of the payment instrument, or 4 percent without the provision of identification, or $5, whichever is greater, if such payment instrument is the payment of any kind of state public assistance or federal social security benefit payable to the bearer of such payment instrument; or

(c)  Charge fees for personal checks or money orders in excess of 10 percent of the face amount of those payment instruments, or $5, whichever is greater.

(d)  As used in this subsection, "identification" means, and is limited to, an unexpired and otherwise valid driver license, a state identification card issued by any state of the United States or its territories or the District of Columbia, and showing a photograph and signature, a United States Government Resident Alien Identification Card, a United States passport, or a United States Military identification card.

History.--s. 3, ch. 94-238; s. 3, ch. 94-354; s. 723, ch. 2003-261.