634.131 – Tax on premiums and assessments.
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 the Florida Insurance Code. However, the gross amount of such premiums and assessments is subject to the sales tax imposed by s. 212.0506. History.—s. 13, ch. […]
634.136 – Office records required.
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 limited to, a general ledger, cash receipts and disbursements journals, accounts receivable registers, and accounts payable registers. (2) A detailed service agreement register, in numerical order by service […]
634.041 – Qualifications for license.
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, with applicable rules of the commission, with related sections of the Florida Insurance Code, and with its charter powers and must comply with the following: (1) Any service agreement […]
634.137 – Financial and statistical reporting requirements.
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 furnished by the office. (2) Any motor vehicle service agreement company engaged in the business of issuing service agreements in this state must transmit the following […]
634.042 – Prohibited investments and loans.
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 evidence of indebtedness of any director, officer, or controlling stockholder of the motor vehicle service agreement company. This prohibition applies only to investments and loans initially reported […]
634.141 – Examination of companies.
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 the same terms and conditions as apply to insurers under part II of chapter 624. The office is not required to conduct periodic examinations pursuant to this […]
634.044 – Assets and liabilities.
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 the service agreement company and which assets consist of: (a) Cash in the possession of the service agreement company, or in transit under its control, including the true […]
634.151 – Service of process; appointment of commissioner as process agent.
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 Financial Officer and her or his successors in office, on a form as furnished by the office, as its attorney to […]
634.045 – Guarantee agreements.
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 assure repayment of all receivables, loans, and advances from affiliated companies, provided that the written guarantee is made by a guaranteeing organization which: (1) Has been in continuous operation for […]
634.161 – Service of process; method.
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 upon the Chief Financial Officer. Upon receiving such service, the Chief Financial Officer shall file one copy with the department, return one copy with her or […]