Fla. Admin. Code Ann. R. 69V-560.7044 - Limit on Cashing Corporate Checks

(1) It is unlawful for a check casher to cash corporate checks for a payee where the aggregate face amount of corporate checks cashed for the payee statewide exceeds 200 percent of the payroll amount listed in the payee's current workers' compensation policy. The 200 percent limit is calculated from the date the payee's policy coverage begins and continues until the date the policy coverage expires or is cancelled.

(2) The 200 percent limitation does not apply to payees exempt from or not required to obtain a workers compensation policy.

(3) The 200 percent limitation does not apply to payees who utilize the services of an employee leasing company licensed pursuant to Section 468.527, F.S., for the provision of leased employees, if the workers' compensation policy for the leased employees is in the name of the employee leasing company. The check casher must maintain documentation of the employee leasing company's workers' compensation coverage for leased employees.

Notes

Fla. Admin. Code Ann. R. 69V-560.7044

Rulemaking Authority 560.105 FS. Law Implemented 560.309 FS.

Adopted by Florida Register Volume 50, Number 035, February 20, 2024 effective 3/7/2024, Amended by Florida Register Volume 51, Number 038, February 25, 2025 effective 3/10/2025.

New 3-7-24.