Changes to Rule 61G4-15.0021 Business Organizations

There are changes taking effect today 2/28/2019 to the Business Organizations portion of Rule 61G4-15.0021; most notably, striking out the 50%/50% rule of ownership to avoid appearing before the board. The language of the rule is now simplified.

61G4-15.0021 Business Organizations.

(1) For purposes of this rule practice as an individual is considered practice as a business organization. After the licensee qualifies one business organization, any request to qualify another business organization is subject to approval by the Board.

(2) If the business organization has a financially responsible officer, the financially responsible officer shall comply with the requirement of subsection 61G4-15.006(1), F.A.C., and shall provide to the Department a bond or irrevocable letter of credit, in the amount of $100,000 payable to the Board for fines and costs.

(3)(a) The applicant seeking to qualify an additional business organization must appear before the Board unless the applicant owns 20% or greater of the proposed business organization and the applicant otherwise qualifies for approval.

(b) Any applicant applying to qualify an additional business organization that will result in the applicant qualifying three or more business organizations must appear before the Board.

(4) Qualification of a business organization is only effective as to that business organization; subsidiaries or parents of qualified business organizations must be separately qualified.

Rulemaking Authority 489.108 FS. Law Implemented 455.213, 489.105, 489.115, 489.119, 489.1195, 489.143 FS. History–New 12-6-83, Formerly 21E-15.021, Amended 3-29-88, 8-8-88, 9-24-92, 12-28-92, Formerly 21E-15.0021, Amended 7-18-94, 7-5-95, 11-12-95, 2-6-96, 7-1-96, 9-3-96, 11-27-96, 11-13-97, 9-15-98, 7-7-05, 1-23-06, 10-22-06, 2-12-08, 12-13-09, 2-28-19.