Florida Statute 560.127 - Full Text and Legal Analysis

560.127 Control of a money services business.—A person has a controlling interest in a money services business if the person:

(1) Possesses the power, directly or indirectly, to direct the management or policies of the money services business, whether through ownership, by contract, or otherwise;

(2) Directly or indirectly may vote 25 percent or more of a class of a voting security or sell or direct the sale of 25 percent or more of a class of voting securities; or

(3) In the case of a partnership, may receive upon dissolution or has contributed 25 percent or more of the capital.

History.—s. 1, ch. 94-238; s. 1, ch. 94-354; s. 707, ch. 2003-261; s. 57, ch. 2006-213; s. 22, ch. 2008-177.

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This Florida statute resource is curated by Florida Bar member Graham W. Syfert, a Jacksonville, Florida personal injury and workers' compensation attorney (Florida Bar No. 39104). For legal consultation, call 904-383-7448.