Florida Statutes Part III - Life Insurance Agents (Ss. 626.776-626.798)

• 626.776 - Short Title.
  This part may be referred to in any legal proceedings as the “Life Agents Law.”History.—s. 281, ch. 59-205; s. 3, ch. 76-168; s. 1, ch....
• 626.777 - Scope Of This Part.
  This part applies only to agents of life insurers, agents who are appointed by the same insurer as to both life insurance and health insurance,...
• 626.778 - This Part Supplements Licensing Law.
  This part is supplementary to part I, the “Licensing Procedures Law.”History.—s. 282, ch. 59-205; s. 3, ch. 76-168; s. 1, ch. 77-457; s. 3, ch....
• 626.779 - “life Agent” Defined.
  For the purposes of this part, a “life agent” is as defined in s. 626.015.History.—s. 283, ch. 59-205; s. 3, ch. 76-168; s. 1, ch....
• 626.780 - “life Insurer” Defined.
  For the purposes of this part, a “life insurer” means an insurer writing life insurance, fixed-dollar annuity contracts, variable contracts, or any of such types...
• 626.781 - “ordinary Class Insurer” And “ordinary-variable Contract Class Insurer” Defined.
  (1) An “ordinary class insurer” is an insurer writing life insurance on the legal reserve plan, for amounts of $1,000 or more, with premiums payable on...
• 626.782 - “industrial Class Insurer” Defined.
  An “industrial class insurer” is an insurer writing industrial life insurance, as defined in s. 627.502, and as to such insurance operates under a system...
• 626.783 - “ordinary-combination Class Insurer” Defined.
  An “ordinary-combination class insurer” is an insurer writing both ordinary class insurance and industrial class insurance.History.—s. 287, ch. 59-205; s. 3, ch. 76-168; s. 1,...
• 626.784 - Purpose Of License.
  (1) The purpose of a license issued under this code to a life agent is to authorize and enable the licensee actively and in good faith...
• 626.7845 - Prohibition Against Unlicensed Transaction Of Life Insurance.
  (1) An individual may not solicit or sell variable life insurance, variable annuity contracts, or any other indeterminate value or variable contract as defined in s....
• 626.785 - Qualifications For License.
  (1) The department shall not grant or issue a license as life agent to any individual found by it to be untrustworthy or incompetent, or who...
• 626.7851 - Requirement As To Knowledge, Experience, Or Instruction.
  An applicant for a license as a life agent, except for a chartered life underwriter (CLU), shall not be qualified or licensed unless within the...
• 626.788 - United States Department Of Veterans Affairs Employees Disqualified.
  No person employed by the United States Department of Veterans Affairs or state service office shall be licensed as a life agent. The license of...
• 626.789 - Military Service; Special Provisions.
  Any person who obtains a license and appointment as a life agent who is in the Armed Forces of the United States shall maintain records,...
• 626.792 - Nonresident Agents; Licensing And Restrictions.
  (1) The department, upon written application and payment of the fees specified in s. 624.501, may issue a license as a nonresident life agent to an...
• 626.793 - Excess Or Rejected Business.
  (1) A licensed life agent may place excess or rejected risks within the class of business for which he or she is licensed and appointed, and...
• 626.794 - Unlawful Payment Or Sharing Of Commissions.
  (1) No life insurer or licensed life agent shall pay directly or indirectly any commission or other valuable consideration to any person for services as a...
• 626.795 - Corporations, Liability Of Agent.
  Any life insurance agent who is an officer, director, or stockholder of an incorporated life insurance agency shall remain personally and fully liable and accountable...
• 626.796 - Representing Another Insurer In Same Industrial Debit Territory.
  (1) No insurer shall employ or appoint to sell weekly premium or industrial insurance in a given debit territory any agent who has within the preceding...
• 626.797 - Code Of Ethics.
  (1) The department shall, after consultation with the Florida Association of Insurance and Financial Advisors, adopt a code of ethics, or continue any such code heretofore...
• 626.798 - Life Agent As Beneficiary; Prohibition.
  No life agent shall, with respect to the placement of life insurance coverage with a life insurer covering the life of a person who is...

Last modified: September 23, 2016