The Florida Senate

494.00171  Special assessments; deposit and transfer.--

(1)  Each mortgage broker, mortgage lender, correspondent mortgage lender, branch of a mortgage lender, or branch of a correspondent mortgage lender shall pay a special assessment of $68 to the department, on or before August 31, 1995, and on or before August 31, 1996. Notwithstanding the exemptions in ss. 494.003 and 494.006, each wholly owned bank holding company subsidiary or wholly owned savings and loan association subsidiary shall pay the special assessment of $68 to the department, on or before August 31, 1995, and on or before August 31, 1996.

(2)  In addition to the license application fee, each new application for licensure as a mortgage broker, mortgage lender, correspondent mortgage lender, branch of a mortgage lender, or branch of a correspondent mortgage lender submitted between July 1, 1995, and June 30, 1997, shall be assessed a special assessment of $68 to the department.

(3)  Funds received pursuant to this section shall be deposited into the Regulatory Trust Fund and transferred to the Mortgage Brokerage Guaranty Fund.

(4)  A failure to timely pay the amounts required by this section is a ground for revocation or denial of licensure.

History.--s. 3, ch. 95-313.