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The Florida Senate

2010 Florida Statutes

F.S. 560.127

Control of a money services business.

A person has a controlling interest in a money services business if the person:


Possesses the power, directly or indirectly, to direct the management or policies of the money services business, whether through ownership, by contract, or otherwise;


Directly or indirectly may vote 25 percent or more of a class of a voting security or sell or direct the sale of 25 percent or more of a class of voting securities; or


In the case of a partnership, may receive upon dissolution or has contributed 25 percent or more of the capital.


s. 1, ch. 94-238; s. 1, ch. 94-354; s. 707, ch. 2003-261; s. 57, ch. 2006-213; s. 22, ch. 2008-177.