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FL S1266
Bill
Status
3/11/2016
Primary Sponsor
Commerce and Tourism
Click for details
AI Summary
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Amends the definition of "recovery agency" in Florida Statutes section 493.6101
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Creates an exemption from the recovery agency definition for intermediary companies that do not directly perform repossessions
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Exempted entities must contract with licensed banks, bank holding companies, credit unions, or small loan companies, and must subcontract actual repossession work to licensed recovery agencies
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Requires exempted intermediary companies to include a disclaimer in all Florida advertisements stating they do not directly perform repossessions but contract with licensed recovery agencies
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Takes effect immediately upon becoming law
Legislative Description
Recovery Agencies
Last Action
Died in Appropriations Subcommittee on General Government
3/11/2016