Florida Statutes 468.5245 – Change of ownership
Current as of: 2024 | Check for updates
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Terms Used In Florida Statutes 468.5245
- Applicant: means a business or individual seeking to be licensed under this part. See Florida Statutes 468.520
- Board: means the Board of Employee Leasing Companies. See Florida Statutes 468.520
- Controlling person: means :(a) Any natural person who possesses, directly or indirectly, the power to direct or cause the direction of the management or policies of any employee leasing company, including, but not limited to:1. See Florida Statutes 468.520
- Employee leasing: means an arrangement whereby a leasing company assigns its employees to a client and allocates the direction of and control over the leased employees between the leasing company and the client. See Florida Statutes 468.520
- Employee leasing company: means a sole proprietorship, partnership, corporation, or other form of business entity engaged in employee leasing. See Florida Statutes 468.520
- person: includes individuals, children, firms, associations, joint adventures, partnerships, estates, trusts, business trusts, syndicates, fiduciaries, corporations, and all other groups or combinations. See Florida Statutes 1.01
(1) A license or registration issued to any entity under this part may not be transferred or assigned. The board shall adopt rules to provide for a licensee’s or registrant’s change of name or location.(2) A person or entity that seeks to purchase or acquire control of an employee leasing company or group licensed or registered under this part must first apply to the board for a certificate of approval for the proposed change of ownership. However, prior approval is not required if, at the time the purchase or acquisition occurs, a controlling person of the employee leasing company or group maintains a controlling person license under this part. Notification must be provided to the board within 30 days after the purchase or acquisition of such company in the manner prescribed by the board.(3) Any application that is submitted to the board under this section shall be deemed approved if the board has not approved the application or rejected the application, and provided the applicant with the basis for a rejection, within 90 days after the receipt of the completed application.(4) The board shall establish filing fees for a change-of-ownership application in accordance with s. 468.524(1).