Syfert Injury Law Firm

Your Trusted Partner in Personal Injury & Workers' Compensation

Call Now: 904-383-7448
Florida Statute 626.173 | Lawyer Caselaw & Research
Link to State of Florida Official Statute
Statute is currently reporting as:
F.S. 626.173 Case Law from Google Scholar Google Search for Amendments to 626.173

The 2024 Florida Statutes

Title XXXVII
INSURANCE
Chapter 626
INSURANCE FIELD REPRESENTATIVES AND OPERATIONS
View Entire Chapter
F.S. 626.173
626.173 Insurance agency closure; cancellation of licenses.
(1) If a licensed insurance agency permanently ceases the transacting of insurance or ceases the transacting of insurance for more than 30 days, the agent in charge, the director of the agency, or other officer listed on the original application for licensure must, within 35 days after the agency first ceases the transacting of insurance, do all of the following:
(a) Cancel the insurance agency’s license by completing and submitting a form prescribed by the department to notify the department of the cancellation of the license.
(b) Notify all insurers by which the agency or agent in charge is appointed of the agency’s cessation of operations, the date on which operations ceased, the identity of any agency or agent to which the agency’s current book of business has been transferred, and the method by which agency records may be obtained during the time periods specified in ss. 626.561 and 626.748.
(c) Notify all policyholders currently insured by a policy written, produced, or serviced by the agency of the agency’s cessation of operations; the date on which operations ceased; and the identity of the agency or agent to which the agency’s current book of business has been transferred or, if no transfer has occurred, a statement directing the policyholder to contact the insurance company for assistance in locating a licensed agent to service the policy. This paragraph does not apply to title insurance, life insurance, or annuity contracts.
(d) Notify all premium finance companies through which active policies are financed of the agency’s cessation of operations, the date on which operations ceased, and the identity of any agency or agent to which the agency’s current book of business has been transferred.
(e) Ensure that all funds held in a fiduciary capacity are properly distributed to the rightful owners.
(2)(a) The department may, in a proceeding initiated pursuant to chapter 120, impose an administrative fine against the agent in charge or the director or officer of the agency found in the proceeding to have violated any provision of this section. A proceeding may not be initiated and a fine may not accrue until after the person has been notified in writing of the nature of the violation and the person has been afforded 10 business days to correct the violation but has failed to do so.
(b) A fine imposed under this subsection may not exceed the amounts specified in s. 626.681 per violation.
(c) The department may, in addition to the imposition of an administrative fine under this subsection, also suspend or revoke the license of the licensee fined under this subsection.
(d) In imposing any administrative penalty or remedy provided under this subsection, the department shall take into account the appropriateness of the penalty or remedy with respect to the size of the financial resources and the good faith of the person charged, the gravity of the violation, the history of previous violations, and other matters as justice may require.
History.s. 30, ch. 2022-138; s. 12, ch. 2023-144.

F.S. 626.173 on Google Scholar

F.S. 626.173 on Casetext

Amendments to 626.173


Arrestable Offenses / Crimes under Fla. Stat. 626.173
Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 626.173.



Annotations, Discussions, Cases:

Cases Citing Statute 626.173

Total Results: 5

State v. Smith

Court: Fla. Dist. Ct. App. | Date Filed: 1963-04-17T23:53:00-08:00

Citation: 151 So. 2d 889

Snippet: of racing information. Brent v. State, 127 Fla. 626, 173 So. 675 (1937) involved a larceny statute then

Cohen v. State

Court: Fla. | Date Filed: 1960-11-29T23:53:00-08:00

Citation: 125 So. 2d 560

Snippet: information) and Brent v. State, 1937, 127 Fla. 626, 173 So. 675 (larceny statute then in force). Also

Kilbee v. State

Court: Fla. | Date Filed: 1951-07-03T00:53:00-07:00

Citation: 53 So. 2d 533

Snippet: other than the owner. Brent v. State, 127 Fla. 626, 173 So. 675. It is essential in order to sustain a

Johnson v. State

Court: Fla. | Date Filed: 1946-04-23T00:00:00-08:00

Citation: 25 So. 2d 801, 157 Fla. 328, 1946 Fla. LEXIS 738

Snippet: 118 So. 20, quoted in Brent v. State 127 Fla. 626, 173 So. 675. In a prosecution for breaking and entering

Cordell v. State

Court: Fla. | Date Filed: 1946-01-08T00:00:00-08:00

Citation: 25 So. 2d 885, 157 Fla. 295, 1946 Fla. LEXIS 731

Snippet: other than the owner. Brent v. State, 127 Fla. 626,173 So. 675; Kempt v. State, 146 Fla. 101, 200 So.