Florida Regulations 69V-160.034: Failure to Demonstrate Financial Responsibility Defined
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As used in section 516.07(1)(c), F.S., failure to demonstrate “”financial responsibility”” means having a history that reflects any of the following: unpaid liens, judgments, repossessions, foreclosures or an otherwise general history of non-payment of legal debts, or having filed a petition for bankruptcy under the federal Bankruptcy Code.
Rulemaking Authority Florida Statutes § 516.22(1), 516.23(3) FS. Law Implemented 516.07(1) FS. History-New 10-1-95, Formerly 3D-160.034, Amended 5-8-13.
Rulemaking Authority Florida Statutes § 516.22(1), 516.23(3) FS. Law Implemented 516.07(1) FS. History-New 10-1-95, Formerly 3D-160.034, Amended 5-8-13.
Terms Used In Florida Regulations 69V-160.034
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.