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The Florida Senate

2007 Florida Statutes

Section 498.031, Florida Statutes 2007

498.031  Inquiry and examination.--

(1)  Upon receipt of an application for registration in proper form and if subject to the provisions of s. 498.039, the division shall conduct an examination to determine whether:

(a)  The subdivider can convey or cause to be conveyed marketable title to the subdivided lands offered for disposition if the purchaser complies with the terms of the offer;

(b)  Reasonable assurance is given that all obligations imposed by this chapter and all obligations contained in the offering will be complied with by the subdivider;

(c)  The general promotional plan is not false or misleading and complies with the standards prescribed by the division in its rules and afford full and fair disclosure;

(d)  The subdivider has not, or, if a corporation, its officers, directors, or principals have not, been convicted of a crime involving land dispositions or any aspect of the land sales business in this state, the United States, or any other state or foreign country, or had a bond forfeited when charged with such a crime, within the past 10 years;

(e)  No evidence exists which would reasonably lead the division to believe that the subdivider is, or, if a corporation, its officers, directors, or principals are, contemplating a fraudulent or misleading sales promotion;

(f)  The public offering statement requirements of this chapter have been satisfied; and

(g)  The subdivided lands which are the subject of the proposed registration are or will be usable as homesites.

(2)  The division may deny the application of any person who does not meet all of the requirements of subsection (1) or of s. 498.027

(3)  The division may require each director and officer of the applicant or any registrant or person occupying a similar status or performing similar functions, or any person who directly or indirectly controls the operation of the business of the applicant or registrant, and each person who owns 10 percent or more of the outstanding stock or other form of equity interest in the applicant or registrant, to furnish her or his fingerprints and to provide evidence of her or his qualifications. The division shall exchange this information and fingerprints with the Department of Law Enforcement and the Federal Bureau of Investigation. This requirement to furnish fingerprints shall not apply to any applicant or registrant who:

(a)  Has received an order of registration or exemption prior to July 1, 1974; and

(b)  Has not been convicted of a criminal offense prohibited by this chapter and is not the subject of an indictment, information, or other formal charge relating to a criminal offense prohibited by this chapter.

The exemption provided by this subsection shall not extend to any individual who was not employed by or affiliated with the applicant or registrant prior to July 1, 1979.

(4)  Upon receipt of an application for registration in proper form that is not subject to the provisions of s. 498.039, the registration shall become effective within 10 days, and the division shall issue an order of registration. The division may, should it deem the application for registration incomplete or the plan of sale deceptive or misleading, take such action as authorized by this chapter.

History.--s. 14, ch. 63-129; s. 13, ch. 67-229; s. 2, ch. 71-98; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 16, 30, 32, ch. 79-347; ss. 9, 21, ch. 81-177; ss. 2, 3, ch. 81-318; s. 3, ch. 83-265; ss. 16, 33, 34, ch. 88-90; s. 4, ch. 91-429; s. 575, ch. 97-103; s. 11, ch. 97-192.

Note.--Former s. 478.141.