Florida Statutes Part XV - Premium Finance Companies And Agreements (Ss. 627.826-627.849)

• 627.826 - “premium Finance Company” Defined.
  (1) An “insurance premium finance company” is:(a) A person engaged, in whole or in part, in the business of entering into premium finance agreements with insureds; or(b) A...
• 627.827 - “premium Finance Agreement” Defined.
  “Premium finance agreement” means a promissory note or other written agreement by which an insured promises or agrees to pay to, or to the order...
• 627.828 - License Required.
  (1) Except as provided in ss. 627.901 and 627.902, no person shall engage in the business of a premium finance company unless licensed by the office....
• 627.8281 - Levy Upon Deposit.
  No judgment creditor or other claimant of a premium finance company shall have the right to levy upon any of the assets or securities held...
• 627.829 - Approval, Disapproval Of Application; License Renewal.
  (1) The office shall issue the license, unless it finds that the management of the premium finance company filing the application is so lacking in managerial...
• 627.832 - Grounds For Refusal, Suspension, Or Revocation Of License.
  (1) The office may deny, suspend, revoke, or refuse to renew any license, if it finds:(a) That the licensee has failed to pay the annual license fee...
• 627.833 - Administrative Fine And Probation In Lieu Of Suspension, Revocation, Or Refusal To Renew License.
  The office may, in its discretion in lieu of a suspension, revocation, or refusal to renew or continue any license, impose on the licensee an...
• 627.834 - Examinations.
  (1) The office may conduct examinations and investigations of premium finance companies under the provisions of ss. 624.307 and 626.601.(2) As often as it deems necessary and...
• 627.835 - Excessive Premium Finance Charge; Penalty.
  Any person, premium finance company, or other legal entity who or which knowingly takes, receives, reserves, or charges a premium finance charge other than that...
• 627.836 - Licensee’s Books And Records; Reports.
  (1) The licensee shall keep and use in her or his business such books, accounts, and records as will enable the office to determine whether the...
• 627.838 - Filing And Approval Of Forms; Service Charges.
  (1) No premium finance agreement form or related form shall be used in this state by a premium finance company unless it has been filed with...
• 627.839 - Form And Content Of Premium Finance Agreements.
  (1) A premium finance agreement shall be in writing, dated, and signed by or on behalf of the insured; and the printed portion thereof shall be...
• 627.840 - Limitation On Service And Other Charges.
  (1) A premium finance company shall not charge, contract for, receive, or collect a service charge other than as permitted by this part.(2) A premium finance company...
• 627.8405 - Prohibited Acts; Financing Companies.
  No premium finance company shall, in a premium finance agreement or other agreement, finance the cost of or otherwise provide for the collection or remittance...
• 627.841 - Delinquency, Collection, Cancellation, And Check Return Charges; Attorney’s Fees.
  (1) A premium finance agreement may provide for the payment by the insured of a delinquency and collection charge on each installment in default for a...
• 627.842 - Restrictions On Premium Finance Agreements.
  No premium finance agreement or contract ancillary thereto shall contain any provision by which:(1) In the absence of default of the insured, the premium finance company...
• 627.843 - Delivery Of Copy Of Premium Finance Agreement.
  Before the due date of the first installment payable under a premium finance agreement, the premium finance company holding the agreement or the insurance agent...
• 627.844 - Assignment Of Premium Finance Agreement.
  (1) A premium finance company may purchase or otherwise acquire a premium finance agreement from another premium finance company with recourse against the other premium finance...
• 627.845 - Statement Of Account; Receipts.
  (1) At any time after the execution of a premium finance agreement, but not later than 1 year after the last payment thereunder, the premium finance...
• 627.847 - Extensions Or Deferrals.
  A premium finance company may, upon agreement with the insured, extend the scheduled due date or defer the scheduled payment of all or any part...
• 627.848 - Cancellation Of Insurance Contract Upon Default.
  (1) When a premium finance agreement contains a power of attorney or other authority enabling the premium finance company to cancel any insurance contract listed in...
• 627.849 - Fees.
  (1) The office shall collect in advance, and the persons so served shall pay to it in advance, the following fees:(a) Annual license fee..........$250(b) Investigation fee..........100(c) Annual report filing...

Last modified: September 23, 2016