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. 77-457; s. 3, ch. 81-282; ss. 2, 3, ch. 81-318; ss. 257, 807, 810, ch. 82-243; ss. 206, 207, ch. 90-363; s. 4, ch. 91-429.
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, and agents who perform the functions of a viatical settlement broker as defined in s. 626.9911. History.—s. 280, ch. 59-205; s. 3, ch. 76-168; s. 1, ch. […]
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. 81-282; ss. 2, 3, ch. 81-318; ss. 257, 807, 810, ch. 82-243; ss. 206, 207, ch. 90-363; s. 4, ch. 91-429.
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. 77-457; s. 3, ch. 81-282; ss. 2, 3, ch. 81-318; ss. 257, 807, 810, ch. 82-243; ss. 206, 207, ch. 90-363; s. 4, ch. 91-429; s. 28, […]
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 of contracts. History.—s. 284, ch. 59-205; s. 8, ch. 61-441; s. 3, ch. 73-31; s. 3, ch. 76-168; s. 1, ch. 77-457; s. 3, ch. 81-282; ss. 2, […]
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 the annual, semiannual, quarterly, monthly, or weekly basis. (2) An “ordinary-variable contract class insurer” is an insurer writing an ordinary class of […]
626.782 “Industrial class insurer” defined.—An “industrial class insurer” is an insurer collecting premiums on policies of industrial life insurance, as defined in s. 627.502, written before July 1, 2021, and as to such insurance, operates under a system of collecting a debit by its agent. History.—s. 286, ch. 59-205; s. 3, ch. 76-168; s. 1, ch. […]
626.783 “Ordinary-combination class insurer” defined.—An “ordinary-combination class insurer” is an insurer writing ordinary class insurance and collecting premiums on existing industrial life insurance as defined by s. 627.502. History.—s. 287, ch. 59-205; s. 3, ch. 76-168; s. 1, ch. 77-457; s. 3, ch. 81-282; ss. 2, 3, ch. 81-318; ss. 243, 257, 807, 810, ch. 82-243; […]
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 to engage in the insurance business as such an agent with respect to the general public and to facilitate the public supervision of such activities in the […]
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. 627.8015 unless the individual has successfully completed a licensure examination relating to variable contracts authorized and approved by the department. (2) Except as provided […]
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 does not meet the following qualifications: (a) Must be a natural person of at least 18 years of age. (b) Must be a United States citizen or legal alien […]
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 4 years immediately preceding the date the application for a license is filed with the department he or she has: (1) Successfully completed 40 hours […]
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 any person who accepts such employment shall automatically terminate when the employment commences. History.—s. 292, ch. 59-205; s. 3, ch. 76-168; s. 1, […]
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, claim, and information facilities at a location readily accessible to the public at a location not attached to or on any military installation. Any such agent may […]
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 individual not resident of this state, upon compliance with the applicable provisions of this code, if that individual’s home state or province of Canada will […]
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 which the insurer appointing him or her is authorized to transact, with any other authorized insurer without being required to secure an appointment as to such […]
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 life insurance agent within this state, unless such person holds a currently valid license and appointment to act as a life insurance agent as […]
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 for any wrongful acts, misconduct, or violations of any provisions of this code committed by such licensee or by any person under his or her direct supervision […]
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 so adopted, to govern the conduct of life agents in their relations with the public, other agents, and the insurers. (2) The code of ethics shall apply standards […]
626.798 Life agent as beneficiary; prohibition.— (1) A life agent may not place or modify life insurance coverage with a life insurer covering the life of a person who is not a family member of the life agent when the life agent or a family member of the life agent is the named beneficiary under the life […]
