As a licensee it’s important you have access to information that helps you keep your insurance business in compliance. This section is an important tool to help you meet that goal.
However, these tools are not and cannot replace statutes, department rules, orders or case law. The items below are intended as reminders only and are not necessarily the exact text of the Estatutos de la Florida o Código Administrativo de la Florida. The legal cites have been provided for your further reference.
The failure of an agent to follow mandated guidelines requiring that a determination be made about the suitability of an annuity. The law also requires certain disclosures and an objective comparison of annuity contracts when recommending the exchange or replacement an annuity. See 627.4554, Estatutos de la Florida
Note: Special provisions apply to certain charges on contracts for individuals age 65 and older. See 627.455(8), Estatutos de la Florida
If you, as a licensee, have pled guilty or nolo contendere (no contest) to or been found guilty of, a felony or a crime punishable by imprisonment of 1 year or more under the laws of the United States of America or of any state thereof or under the law of any other country, without regard to whether a judgment of conviction has been entered by the court having jurisdiction of such cases, you must report it to the Department. Failure to inform the Department in writing within 30 days after pleading guilty or nolo contendere to, or being convicted or found guilty of, any felony or a crime punishable by imprisonment of 1 year or more under the law of the United States or of any state thereof would be a violation of the insurance code and a reason for the Department to open an investigation. See: 626.611(2) y 626.621(8)(11), Estatutos de la Florida
Note: Effective July 1, 2014, the department shall, upon receipt of information or an indictment, immediately temporarily suspend a license or appointment issued under this chapter when the licensee is charged with a felony enumerated in section 626.207(3), F.S. Such suspension shall continue if the licensee is found guilty of, or pleads guilty or nolo contendere to, the crime, regardless of whether a judgment or conviction is entered, during a pending appeal. A person may not transact insurance business after suspension of his or her license or appointment. See section 626.611(2), F.S. (effective July 1, 2014).
Agentes Profesionales de Fianza
If you are a bail bond agent, the department shall, upon receipt of an information or indictment, immediately temporarily suspend any license or appointment issued under this chapter when the licensee has been charged with a felony or a crime involving moral turpitude or a crime punishable by imprisonment of 1 year or more under the law of any state, territory, or country. Such suspension shall continue if the licensee has been found guilty of, or has pleaded guilty or no contest to, the crime, whether or not a judgment or conviction has been entered, during a pending appeal. A person may not effect any additional bail bonds after suspension of his or her license or appointment. However, he or she may discharge any liability on bonds effected prior to such suspension. See section 648.45(1), Estatutos de la Florida