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The Florida Senate

2007 Florida Statutes

Section 559.553, Florida Statutes 2007

559.553  Registration of consumer collection agencies required; exemptions.--

(1)  After January 1, 1994, no person shall engage in business in this state as a consumer collection agency or continue to do business in this state as a consumer collection agency without first registering in accordance with this part, and thereafter maintaining a valid registration.

(2)  Each consumer collection agency doing business in this state shall register with the office and renew such registration annually as set forth in s. 559.555

(3)  A prospective registrant shall be entitled to be registered when registration information is complete on its face and the applicable registration fee has been paid; however, the office may reject a registration submitted by a prospective registrant if the registrant or any principal of the registrant previously has held any professional license or state registration which was the subject of any suspension or revocation which has not been explained by the prospective registrant to the satisfaction of the office either in the registration information submitted initially or upon the subsequent written request of the office. In the event that an attempted registration is rejected by the office the prospective registrant shall be informed of the basis for rejection.

(4)  This section shall not apply to:

(a)  Any original creditor.

(b)  Any member of The Florida Bar.

(c)  Any financial institution authorized to do business in this state and any wholly owned subsidiary and affiliate thereof.

(d)  Any licensed real estate broker.

(e)  Any insurance company authorized to do business in this state.

(f)  Any consumer finance company and any wholly owned subsidiary and affiliate thereof.

(g)  Any person licensed pursuant to chapter 520.

(h)  Any out-of-state consumer debt collector who does not solicit consumer debt accounts for collection from credit grantors who have a business presence in this state.

(i)  Any FDIC-insured institution or subsidiary or affiliate thereof.

(5)  Any out-of-state consumer debt collector as defined in s. 559.55(8) who is not exempt from registration by application of subsection (4) and who fails to register in accordance with this part shall be subject to an enforcement action by the state as specified in s. 559.565

History.--ss. 5, 13, ch. 93-275; s. 678, ch. 2003-261.