Retail Installment Seller
RS: Retail Installment Seller – Chapter 520 Part II, Florida Statutes: The license authorizes any retail business to offer installment payments to its customers, for goods or services other than motor vehicle and home improvement businesses. The license authorizes the holder to finance the goods or services sold by an installment contract or a revolving charge account to a retail buyer. The license is required if the goods or services are primarily for personal, family or household use.
In addition to the main location license, any subsequent location other than the main office must be filed as a RSB: Retail Installment Seller Branch by way of online.
If your company intends on offering Retail Installments for the sale of Motor Vehicles, review Chapter 520 – Part I, Florida Statutes for information regarding the Motor Vehicle Retail Installment Seller license.
Application Requirements
Apply for the license online via Online Services.
Maintaining or Renewing License
Filings to maintain, amend and renew the license are completed online via Online Services.
As a licensee under Chapter 520, Florida Statutes you are required to submit certain notices to the Office pursuant to Chapter 520.999, Florida Statutes. Refer to the statute for more information.
** Above are only some of the requirements of a licensee under Chapter 520, Florida Statutes and Rule 69V-60, Florida Administrative Code. To review all requirements of a licensee, please access Chapter 520, Florida Statutes and Rule 69V-60, Florida Administrative Code.
Forms
OFR-520-02 - Application for Branch Office License Under Chapter 520, Florida Statutes
Statutes and Rules
Chapter 520 - Part III, Florida Statutes - Retail Installment Sales
Chapter 520 - Part VI, Florida Statutes - Department Regulation of Sales and Finance
Rule 69V-60 - Florida Administrative Code - Retail Installment Sales
Rule 69V-85 - Florida Administrative Code - Retail Installment Sales Act - General Rules