DESIGNATING LOCATIONS THAT COMMENCED OPERATIONS PRIOR TO 10/1/01
HOW DOES THIS NEW REQUIREMENT WORK?
Any location that commences operations on or after October 1, 2001 will be subject to a $50 location fee and must be reported within 60 days after the date it opens or commences operations on behalf of the licensee, and it must be reported on the form prescribed by the regulations. However the law provides that locations which commenced operations prior to October 1st and are designated with the Division will not be subject to the initial fee. Instructions on how to “designate” locations will be provided through a mailout to all licensees.
Is an “agent” the same thing as an “ authorized vendor” ?
Yes, “authorized vendor” is the term used in the statute, and is equivalent to “agent”.
How do I determine whether my locations are considered an “authorized vendor” or a “branch” for reporting purposes?
One method for making this determination is whether or not you own and operate the location, or does the location, owned by another, merely act as a sales AGENT for your products and services.
A “Branch” for purposes of designating locations to the Department is a business location in this state that is owned and operated by the Registrant; and
A “Vendor” for purposes of designating locations to the Department is a business location in this state that is owned and operated by another that sells a registrant’s products or services to the public. The relationship between a registrant and a “Vendor” is by contract.
What if I don’t know the exact date that a location commenced operations?
If an exact date cannot be provided, the
Office will use a “conversion date” of 9/30/01. All locations added after that date will be required to provide the exact date.
What is the Vendor FEIN number? What if I don’t have it available to report?
The Vendor FEIN (Federal Employment Identification Number) is the tax identification number of the authorized vendor (agent). If the vendor does not have an FEIN and uses its Social Security Number for tax purposes, then the SSN should be reported. The deadline to provide the Vendor FEIN number is 12/1/01.
What is the difference between the Vendor Legal Name and the Location DBA Name?
The vendor legal name is the complete legal name of the vendor. The location DBA name is the fictitious name under which the location actually conducts business, and under which it holds itself out to the public.
If the location is a “vendor”, the vendor legal name must always be reported. And if the vendor operates under a fictitious name different from the vendor’s legal name, then the fictitious name (or DBA name or “doing business as” name) must be reported in addition to the vendor’s legal name.
If the location is a “branch” and it operates under a fictitious name which is different from the registrant’s legal name, then the location’s fictitious name must be reported.
Will I still be required to report location updates on my quarterly report filings?
No. As of October 1, 2001, the new law changed the reporting deadline for locations. As a result, each location must be reported, either through the prescribed form or electronically via the
Office’s website, within 60 days after opening or closing.
Where can I go for more information on the new law and requirements?
Visit the Division home page at: www.flofr.com/finance. It will be updated continuously as more information becomes available.
Where may I obtain an application? You may write to the
Office of Financial Regulation, 101 E. Gaines Street, Suite 664, Tallahassee, FL 32399-0350 or e-mail your request to
electronic_licensing@fldfs.com
Under Florida law,
e-mail addresses are public records. If you do not want your
e-mail address released in response to a public-records
request, do not send electronic mail to this entity.
Instead, contact this office by phone or in writing.
