# Fla. Stat. § 537.005: 537.005 Application for license > Florida · Statutes · In force URL: https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXIII_C537_S537.005 ## Section - **Citation:** Fla. Stat. § 537.005 - **Heading:** 537.005 Application for license - **Jurisdiction:** Florida - **Kind:** Statutes - **Status:** In force - **Text as of:** August 14, 2026 - **Source:** Compiled text - **Location:** Florida Code / Title XXXIII / Chapter 537 / Section 537.005 ## Text (1) A verified application for licensure under this act, in the form prescribed by commission rule, shall: (a) Contain the name and the residence and business address of the applicant. If the applicant is other than a natural person, the application shall contain the name and the residence and business address of each ultimate equitable owner of 10 percent or more of such entity and each director, general partner, and executive officer of such entity. (b) State whether any individual identified in paragraph (a) has, within the last 10 years, pleaded nolo contendere to, or has been convicted or found guilty of, a felony, regardless of whether adjudication was withheld. (c) Identify the county and municipality with the street and number or location where the business is to be conducted. (d) Contain additional information as the commission determines by rule to be necessary to ensure compliance with this act. (2) Notwithstanding subsection (1), the application need not state the full name and address of each officer, director, and shareholder if the applicant is owned directly or beneficially by a person who as an issuer has a class of securities registered pursuant to s. 12 of the Securities Exchange Act of 1934 or, pursuant to s. 13 or s. 15(d) of such act, is an issuer of securities which is required to file reports with the Securities and Exchange Commission, if the person files with the office any information, documents, and reports required by such act to be filed with the Securities and Exchange Commission. (3) An applicant for licensure shall file with the office a bond, in the amount of $100,000 for each license, with a surety company qualified to do business in this state. However, in no event shall the aggregate amount of the bond required for a single title loan lender exceed $1 million. In lieu of the bond, the applicant may establish a certificate of deposit or an irrevocable letter of credit in a financial institution, as defined in s. 655.005, in the amount of the bond. The original bond, certificate of deposit, or letter of credit shall be filed with the office, and the office shall be the beneficiary to that document. The bond, certificate of deposit, or letter of credit shall be in favor of the office for the use and benefit of any consumer who is injured pursuant to a title loan transaction by the fraud, misrepresentation, breach of contract, financial failure, or violation of any provision of this act by the title loan lender. Such liability may be enforced either by proceeding in an administrative action or by filing a judicial suit at law in a court of competent jurisdiction. However, in such court suit, the bond, certificate of deposit, or letter of credit posted with the office shall not be amenable or subject to any judgment or other legal process issuing out of or from such court in connection with such lawsuit, but such bond, certificate of deposit, or letter of credit shall be amenable to and enforceable only by and through administrative proceedings before the office. It is the intent of the Legislature that such bond, certificate of deposit, or letter of credit shall be applicable and liable only for the payment of claims duly adjudicated by order of the office. The bond, certificate of deposit, or letter of credit shall be payable on a pro rata basis as determined by the office, but the aggregate amount may not exceed the amount of the bond, certificate of deposit, or letter of credit. (4) The office shall approve an application and issue a license if the office determines that the applicant satisfies the requirements of this act. History: s. 5, ch. 2000-138; s. 642, ch. 2003-261. ## Nearby sections - [Fla. Stat. § 537.001 537.001 Short title.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXIII_C537_S537.001.md) - [Fla. Stat. § 537.002 537.002 Legislative intent.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXIII_C537_S537.002.md) - [Fla. Stat. § 537.003 537.003 Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXIII_C537_S537.003.md) - [Fla. Stat. § 537.004 537.004 License required; license fees.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXIII_C537_S537.004.md) - [Fla. Stat. § 537.005 537.005 Application for license.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXIII_C537_S537.005.md) - [Fla. Stat. § 537.006 537.006 Denial, suspension, or revocation of license.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXIII_C537_S537.006.md) - [Fla. Stat. § 537.007 537.007 Remedies for title loans made without licensure.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXIII_C537_S537.007.md) - [Fla. Stat. § 537.008 537.008 Title loan agreement.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXIII_C537_S537.008.md) - [Fla. Stat. § 537.009 537.009 Recordkeeping; reporting; safekeeping of property.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXIII_C537_S537.009.md) - [Fla. Stat. § 537.011 537.011 Title loan charges.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXIII_C537_S537.011.md) - [Fla. Stat. § 537.012 537.012 Repossession, disposal of pledged property; excess proceeds.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXIII_C537_S537.012.md) - [Fla. Stat. § 537.013 537.013 Prohibited acts.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXIII_C537_S537.013.md) - [Fla. Stat. § 537.014 537.014 Right to reclaim; lost title loan agreement.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXIII_C537_S537.014.md) - [Fla. Stat. § 537.015 537.015 Criminal penalties.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXIII_C537_S537.015.md) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXIII_C537_S537.005. Check the current official text before relying on it. Not legal advice.