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FLACARS working for you! THE NEW CHAPTER 493 The 2005 Florida legislative session was a huge success for Florida’s collateral recovery licensees. All the issues and changes in our proposed legislative package were passed without challenge. Our most sincere thanks to the following individuals: Former Director, John Russi for his untiring efforts, his patience with me, and his uncanny expertise in developing the proper language in our proposed bill. Without his efforts, this package would have simply been a wasted effort. FDACS Commissioner Bronson, for providing the vital support necessary for this legislation to become a reality. Gene Bryan, our new Director for “shepherding” our package along in the House and Senate. Charles Barner, as our lobbyist he has been there for us over the past 13 years, always available, always with our best interests in mind, and many times he helped even when we had no money on hand to pay him. Following are the major changes to Chapter 493 as it applies to the collateral recovery industry. These changes become effective October 1, 2005. 1. Aircraft, personal watercraft, all-terrain vehicles, farm equipment and industrial equipment now fall under the prevue of Chapter 493. Previously only motor vehicles, mobile homes and motor boats were included in the language of the law. 2. No more in-house repossessions. As result of the revised language any individual that repossesses motor vehicles, mobile homes, motor boats, aircraft, personal watercraft, all-terrain vehicles, farm equipment or industrial equipment must be an E or EE licensee and must be employed by and conducting any repossession for an R or RR licensed agency. 3. The requirement for the $300,000 General Liability insurance coverage has been eliminated. Our clients require that we carry insurance. The way Chapter 493 was written, unneeded and sometimes unavailable coverage was required. The Division will no longer be required to monitor our insurance coverage. In a meeting with our Division Director, Assistant Director and Division legal counsel, it was determined that Division Investigators might better regulate unlicensed and illegal activity by going directly to the dealerships, lenders and auctions who are not in compliance. These dealerships, lenders and auctions are where the “deep pockets” are. Fines that are levied will have to be paid. To assist in notifying the Division we, as licensees must do our share to make these new regulations work to our benefit. We know who these lenders and auctions are and we see the auctions and unlicensed tow companies transporting our livelihood away. We have developed a form which has been approved by the Division for use in reporting unlicensed repossession activity. It is suggested that upon completion of this form it should be sent to FLACARS home office. The formal complaint will then be sent from FLACARS to the division of licensing investigators. This will protect the identity of the licensee.
The 2005 legislature, the Department of
Agriculture and Consumer Affairs, and the Division of Licensing have given
our profession some very powerful tools to assist us in doing our jobs more
effectively. This could substantially increase our work flow and market
share. It is now our responsibility to use these tools properly and
effectively. Those who are not licensed and those who persist in using unlicensed individuals can no longer simply claim an exemption to the law we must abide by. We now have the “knife” and the level playing field. We can now stop talking and start doing. Our next step should be to read this article again and really understand just what this new legislation means to every licensee in Florida. And finally, it is my hope that every licensee will join together as members of FLACARS and work for our mutual benefit and success. The Division and FLACARS are involved in discussions of a long term plan to increase enforcement against un-licensed activity by privatizing some of the investigative process. This may also involve an increase in licensing fees. It is important
for all FL Recovery Agency Owners to attend the FLACARS Meetings in Feb ’06.
See: Be Safe, Joe Taylor In regards to applying for title to collateral where the client refuses to pay the recovery and/or storage fee, language is being developed to be included in DHSMV (Department of Highway Safety and Motor Vehicles), regulations as this is not a function of Chapter 493. |
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