Florida Statutes Part I - Motor Vehicle Service Agreement Companies (Ss. 634.011-634.288)

• 634.011 - Definitions.
  As used in this part, the term:(1) “Acquisition cost” means all costs specifically associated with acquiring new business, including, but not limited to, underwriting costs, commissions,...
• 634.021 - Powers Of Department, Commission, And Office; Rules.
  The office shall administer this act and the commission may adopt rules pursuant to ss. 120.536(1) and 120.54 to implement the provisions of this act...
• 634.023 - Part Exclusive; Applicability Of Other Laws.
  (1) Except as provided in this part, motor vehicle service agreement companies shall be governed by the provisions of this part and shall be exempt from...
• 634.031 - License Required.
  (1) A person may not transact, administer, or market, attempt to transact, administer, or market, or in any manner hold itself out as transacting, administering, or...
• 634.041 - Qualifications For License.
  To qualify for and hold a license to issue service agreements in this state, a service agreement company must be in compliance with this part,...
• 634.042 - Prohibited Investments And Loans.
  A motor vehicle service agreement company shall not directly or indirectly invest in or lend its funds upon the security of any note or other...
• 634.044 - Assets And Liabilities.
  (1) ASSETS.—In any determination of the financial condition of a service agreement company, there shall be allowed as assets only those assets that are owned by...
• 634.045 - Guarantee Agreements.
  In order to include receivables from affiliated companies as assets under s. 634.041, the motor vehicle service agreement company shall provide a written guarantee to...
• 634.052 - Required Deposit.
  (1) To assure the faithful performance of its obligations to its members or subscribers, each motor vehicle service agreement company shall, prior to issuance of its...
• 634.053 - Levy Upon Deposit Limited.
  A judgment creditor or other claimant of a motor vehicle service agreement company does not have the right to levy upon any of the assets...
• 634.061 - Application For And Issuance Of License.
  (1) A sworn application for a license as a motor vehicle service agreement company shall be made to and filed with the office on forms as...
• 634.071 - License Continuance.
  A license issued under this part shall continue in force as long as the motor vehicle service agreement company is entitled thereto under this part...
• 634.081 - Suspension Or Revocation Of License; Grounds.
  (1) The office may, in its discretion, suspend or revoke the license of any motor vehicle service agreement company if it finds that the company has...
• 634.095 - Prohibited Acts.
  Any service agreement company or salesperson that engages in one or more of the following acts is, in addition to any applicable denial, suspension, revocation,...
• 634.101 - Order, Notice Of Suspension Or Revocation Of License; Effect; Publication.
  (1) Suspension or revocation of the license of a company shall be by the order of the office mailed to the company by registered or certified...
• 634.111 - Duration Of Suspension; Obligations Of Company During Suspension Period; Reinstatement.
  (1) The suspension of the license of a company shall be for such period not to exceed 1 year as is fixed by the office in...
• 634.121 - Forms, Required Procedures, Provisions.
  (1) Before the sale of any service agreement, written notice must be given to the prospective purchaser by the service agreement company or its agent or...
• 634.1213 - Noncompliant Forms.
  The office may order a service agreement company to stop using any service agreement form that:(1) Is in any respect in violation of or does not...
• 634.131 - Tax On Premiums And Assessments.
  Premiums and assessments received by insurers or service agreement companies and taxed under this section are not subject to any premium tax provided for in...
• 634.136 - Office Records Required.
  Each licensed motor vehicle service contract company, as a minimum requirement for permanent office records, shall maintain:(1) A complete set of accounting records, including, but not...
• 634.137 - Financial And Statistical Reporting Requirements.
  (1) By March 1 of each year, each service agreement company shall submit to the office annual financial reports on forms prescribed by the commission and...
• 634.141 - Examination Of Companies.
  (1) Motor vehicle service agreement companies licensed under this part may be subject to periodic examination by the office in the same manner and subject to...
• 634.151 - Service Of Process; Appointment Of Commissioner As Process Agent.
  (1) Each company applying for authority to transact business in this state, whether domestic or foreign, shall file with the office its appointment of the Chief...
• 634.161 - Service Of Process; Method.
  (1) Service of process upon the Chief Financial Officer as process agent of the company shall be made by serving copies in triplicate of the process...
• 634.171 - Salesperson To Be Licensed And Appointed.
  Salespersons for motor vehicle service agreement companies and insurers shall be licensed, appointed, renewed, continued, reinstated, or terminated as prescribed in chapter 626 for insurance...
• 634.181 - Grounds For Compulsory Refusal, Suspension, Or Revocation Of License Or Appointment Of Salespersons.
  The department shall deny, suspend, revoke, or refuse to renew or continue the license or appointment of any such salesperson if it finds that as...
• 634.1815 - Rebating; When Allowed.
  (1) No salesperson shall rebate any portion of his or her commission except as follows:(a) The rebate shall be available to all consumers in the same actuarial...
• 634.191 - Grounds For Discretionary Refusal, Suspension, Or Revocation Of License Or Appointment Of Salespersons.
  The department may, in its discretion, deny, suspend, revoke, or refuse to renew or continue the license or appointment of any salesperson if it finds...
• 634.201 - Refusal, Suspension, Or Revocation Of License Or Appointment Of Salespersons.
  (1) If any salesperson is convicted by a court of a violation of this part or of an applicable provision of the Florida Insurance Code, the...
• 634.211 - Administrative Fine In Lieu Of Suspension Or Revocation Of License Or Appointment.
  (1) If the department or office finds that one or more grounds exist for the suspension, revocation, or refusal to renew or continue any license or...
• 634.221 - Disposition Of Taxes And Fees.
  All license taxes, taxes on premiums and assessments, registration fees, and administrative fines and penalties collected under this act from motor vehicle service agreement companies...
• 634.231 - Insurance Business Not Authorized.
  Nothing in the Florida Insurance Code or in this part shall be deemed to authorize any motor vehicle service agreement company to transact any insurance...
• 634.241 - Prohibition Against Fronting.
  An authorized insurer or licensed motor vehicle service agreement company may not act as a fronting company for any unauthorized insurer or unlicensed motor vehicle...
• 634.242 - Injunctive Proceedings.
  In addition to the penalties and other enforcement provisions of this part, if any person violates s. 634.031 or s. 634.171 or any rule adopted...
• 634.251 - Penalty For Violation.
  Any individual who knowingly makes a false or otherwise fraudulent application for license or appointment under this act, or who knowingly violates any provision thereof,...
• 634.2515 - Penalty For Selling Agreements Of A Nonlicensed Company.
  Any individual or entity who knowingly offers for sale or sells a motor vehicle service agreement of a company which has failed to comply with...
• 634.252 - Acquisition.
  Every motor vehicle service agreement company shall be subject to the provisions of s. 628.4615.History.—s. 11, ch. 78-231; s. 2, ch. 81-318; ss. 27, 32,...
• 634.253 - Delinquency Proceedings.
  (1) If any of the grounds for rehabilitation, liquidation, conservation, reorganization, seizure, or summary proceedings of an insurer as set forth in ss. 631.051, 631.061, and...
• 634.261 - Voluntary Compliance In Lieu Of Suspension Or Revocation.
  The department or office may terminate an investigation or an action upon acceptance of the written assurance of a company or salesperson of voluntary compliance...
• 634.271 - Civil Remedy.
  (1) Any person damaged by a violation of the provisions of this part may bring a civil action against a person who violated such provisions, in...
• 634.2815 - Unfair Methods Of Competition And Unfair Or Deceptive Acts Or Practices Prohibited.
  No person may engage in this state in any trade practice which is defined in this part as, or determined pursuant to s. 634.282 to...
• 634.282 - Unfair Methods Of Competition And Unfair Or Deceptive Acts Or Practices Defined.
  The following methods, acts, or practices are defined as unfair methods of competition and unfair or deceptive acts or practices:(1) MISREPRESENTATION AND FALSE ADVERTISING.—Knowingly making, issuing,...
• 634.2825 - Motor Vehicle Service Agreement Cost Specified In “price Package.”
  (1) When the premium or charge for a motor vehicle service agreement or involving such property or merchandise is included in the overall purchase price or...
• 634.283 - Power Of Department And Office To Examine And Investigate.
  The department and office may, within their respective regulatory jurisdictions, examine and investigate the affairs of every person involved in the business of motor vehicle...
• 634.284 - Prohibited Practices; Hearings; Procedure; Service Of Process.
  (1) Whenever the department or office has reason to believe that any person has engaged, or is engaging, in this state in any unfair method of...
• 634.285 - Cease And Desist And Penalty Orders.
  After the hearing provided for in s. 634.284, the department or office shall enter a final order in accordance with s. 120.569. If it is...
• 634.2855 - Unauthorized Entities; Gifts And Grants.
  A governmental unit, public agency, institution, person, firm, or legal entity may provide money to the department to enable the department to pursue unauthorized entities...
• 634.286 - Appeals From Orders Of The Department Or Office.
  Any person subject to an order of the department or office under s. 634.285 may obtain a review of such order by filing an appeal...
• 634.287 - Penalty For Violation Of Cease And Desist Order.
  Any person who violates a cease and desist order of the department or office under s. 634.285 while such order is in effect, after notice...
• 634.288 - Civil Liability.
  The provisions of this part are cumulative to rights under the general civil and common law, and no action of the department or office will...

Last modified: September 23, 2016