Florida Statutes Part III - Service Warranty Associations (Ss. 634.401-634.444)

• 634.401 - Definitions.
  As used in this part, the term:(1) “Consumer product” means tangible property primarily used for personal, family, or household purposes.(2) “Gross income” means the total amount of...
• 634.402 - Powers Of Department, Commission, And Office; Rules.
  The office shall administer this part, and the commission may adopt rules pursuant to ss. 120.536(1) and 120.54 to implement the provisions of this part...
• 634.4025 - Part Exclusive; Applicability Of Other Laws.
  (1) Except as provided in this part, service warranty associations shall be governed by this part and shall be exempt from all other provisions of the...
• 634.403 - License Required; Exemptions.
  (1) No person in this state shall provide or offer to provide service warranties to residents of this state unless authorized therefor under a subsisting license...
• 634.404 - Qualifications For License.
  The office may not issue or allow a service warranty association to maintain a license unless the association:(1) Is a warrantor with minimum net assets of...
• 634.405 - Required Deposit Or Bond.
  (1) To assure the faithful performance of its obligations to its members or subscribers in the event of insolvency, each service warranty association shall, before the...
• 634.4051 - Levy Upon Deposit Limited.
  No judgment creditor or other claimant of a service warranty association shall have the right to levy upon any of the assets or securities held...
• 634.406 - Financial Requirements.
  (1) An association licensed under this part shall maintain a funded, unearned premium reserve account, consisting of unencumbered assets, equal to a minimum of 25 percent...
• 634.4061 - Assets And Liabilities.
  (1) ASSETS.—In any determination of the financial condition of a service warranty association, there shall be allowed as assets only those assets that are owned by...
• 634.4062 - Prohibited Investments And Loans.
  A service warranty association shall not directly or indirectly invest in or lend its funds upon the security of any note or other evidence of...
• 634.4065 - Guarantee Agreements.
  In order to include receivables from affiliated companies as assets under s. 634.401(9), the service warranty association may provide a written guarantee to assure repayment...
• 634.407 - Application For And Issuance Of License.
  (1) An application for license as a service warranty association shall be made to, and filed with, the office on printed forms as prescribed by the...
• 634.408 - License Continuance.
  A license issued under this part shall continue in force as long as the service warranty association is entitled thereto under this part and until...
• 634.4085 - Acquisition.
  Except for manufacturers as defined in this part, every service warranty association shall be subject to the provisions of s. 628.4615.History.—ss. 24, 38, ch. 83-322;...
• 634.409 - Grounds For Suspension Or Revocation Of License.
  (1) The license of any service warranty association may be revoked or suspended, or the office may refuse to renew any such license, if it is...
• 634.411 - Order; Notice Of Suspension Or Revocation Of License; Effect; Publication.
  (1) Suspension or revocation of a service warranty association’s license shall be by order of the office mailed to the association by registered or certified mail....
• 634.412 - Duration Of Suspension; Obligations Of Association During Suspension; Reinstatement.
  (1) A suspension of the license of a service warranty association shall be for such period, not to exceed 1 year, as is fixed in the...
• 634.413 - Administrative Fine In Lieu Of Suspension Or Revocation.
  If the office finds that one or more grounds exist for the discretionary revocation or suspension of a certificate of authority issued under this part,...
• 634.414 - Forms; Required Provisions.
  (1) Each service warranty contract shall contain a cancellation provision. If the contract is canceled by the warranty holder, return of premium shall be based upon...
• 634.4145 - Noncompliant Forms.
  The office may order a service warranty association to stop using any contract form that:(1) Violates this part;(2) Is misleading in any respect;(3) Is reproduced so that any...
• 634.415 - Tax On Premiums; Annual Statement; Reports.
  (1) In addition to the license fees provided in this part for service warranty associations and license taxes as provided in the insurance code as to...
• 634.416 - Examination Of Associations.
  (1) Service warranty associations licensed under this part may be subject to periodic examination by the office, in the same manner and subject to the same...
• 634.4165 - Office Records Required.
  As a minimum requirement for permanent office records, each licensed service warranty association shall maintain:(1) A complete set of accounting records, including, but not limited to,...
• 634.417 - Service Of Process.
  Service warranty associations are subject to service of process in the same manner and subject to the same terms, conditions, and fees as apply to...
• 634.419 - License And Appointment Required.
  No person or entity shall solicit, negotiate, advertise, or effectuate service warranty contracts in this state unless such person or entity is licensed and appointed...
• 634.420 - License And Appointment Of Sales Representatives.
  Sales representatives for service warranty associations or insurers shall be licensed, appointed, renewed, continued, reinstated, or terminated in accordance with procedures as prescribed in chapter...
• 634.421 - Reporting And Accounting For Funds.
  (1) All funds belonging to insurers, service warranty associations, or others received by a sales representative in transactions under her or his license or appointment are...
• 634.422 - Grounds For Compulsory Refusal, Suspension, Or Revocation Of License Or Appointment Of Sales Representatives.
  The department shall deny, suspend, revoke, or refuse to renew or continue the license or appointment of any sales representative if it is found that...
• 634.4225 - Rebating; When Allowed.
  (1) No sales representative shall rebate any portion of his or her commission except as follows:(a) The rebate shall be available to all consumers in the same...
• 634.423 - Grounds For Discretionary Refusal, Suspension, Or Revocation Of License Or Appointment Of Sales Representatives.
  The department may deny, suspend, revoke, or refuse to renew or continue the license or appointment of any sales representative if it is found that...
• 634.424 - Procedure For Refusal, Suspension, Or Revocation Of License Or Appointment Of Sales Representatives.
  (1) If any sales representative is convicted by a court of a violation of any provision of this part or an applicable provision of the Florida...
• 634.425 - Duration Of Suspension Or Revocation.
  (1) The department shall, in its order suspending a license or appointment, specify the time period during which the suspension is to be in effect. Such...
• 634.426 - Administrative Fine In Lieu Of Suspension Or Revocation Of License Or Appointment.
  (1) If, pursuant to procedures provided for in this part, it is found that one or more grounds exist for the suspension, revocation, or refusal to...
• 634.427 - Disposition Of Taxes And Fees.
  All license fees, taxes on premiums, registration fees, and administrative fines and penalties collected under this part from service warranty associations and sales representatives shall...
• 634.428 - Insurance Business Not Authorized.
  Nothing in the Florida Insurance Code or in this part shall be deemed to authorize any service warranty association to transact any insurance business other...
• 634.429 - Fronting Not Permitted.
  No authorized insurer or licensed service warranty association may act as a fronting company for any unauthorized insurer or unlicensed service warranty association. A “fronting...
• 634.430 - Dissolution Or Liquidation.
  (1) Except as provided in subsection (2), the dissolution or liquidation of an association subject to the provisions of this part shall be under the supervision...
• 634.431 - Penalty For Violation.
  Except as otherwise provided in this part, any person who knowingly makes a false or otherwise fraudulent application for license or registration under this part,...
• 634.433 - Civil Remedy.
  (1) Any person damaged by a violation of the provisions of this part may bring a civil action against a person violating such provisions in the...
• 634.435 - 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. 634.437 to...
• 634.436 - 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 OF INSURANCE...
• 634.437 - Power Of Department And Office To Examine And Investigate.
  The department and office have the power, within their respective regulatory jurisdictions, to examine and investigate the affairs of every person involved in the business...
• 634.438 - 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...
• 634.4385 - 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...
• 634.439 - Cease And Desist And Penalty Orders.
  After the hearing provided for in s. 634.438, the department or office shall enter a final order in accordance with s. 120.569. If it is...
• 634.44 - Appeals From Orders Of The Department Or Office.
  Any person subject to an order of the department or office under s. 634.439 may obtain a review of such order by filing an appeal...
• 634.441 - Penalty For Violation Of Cease And Desist Order.
  Any person who violates a cease and desist order of the department or office under s. 634.439 while such order is in effect, after notice...
• 634.442 - Injunctive Proceedings.
  In addition to the penalties and other enforcement provisions of this part, if any person violates s. 634.403 or s. 634.420 or any rule adopted...
• 634.443 - 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...
• 634.444 - Investigatory Records.
  All active examination or investigatory records of the department or office made or received pursuant to this part are confidential and exempt from the provisions...

Last modified: September 23, 2016