The 2023 Florida Statutes (including Special Session C)

Title XXXVII
INSURANCE

Chapter 626
INSURANCE FIELD REPRESENTATIVES AND OPERATIONS

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F.S. 626.794

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 required by the laws of this state; except that a life insurer may pay such commission or other valuable consideration to, and a licensed and appointed life insurance agent may share any commission or other valuable consideration with, an incorporated insurance agency in which all employees, stockholders, directors, or officers who solicit, negotiate, or effectuate life insurance contracts are qualified life insurance agents holding currently valid licenses and appointments.

(2) No person other than a licensed and appointed life agent shall accept any such commission or other valuable consideration, except as provided in subsection (1).

(3) This section shall not prevent the payment or receipt of renewal or other deferred commissions or pensions to or by any person solely because such person has ceased to hold a license or appointment to act as a life insurance agent and shall not prevent the payment of renewal or other deferred commissions to any incorporated insurance agency solely because any of its stockholders has ceased to hold a license or appointment to act as a life insurance agent.

History.—s. 298, ch. 59-205; s. 1, ch. 63-381; s. 3, ch. 76-168; s. 1, ch. 77-457; s. 3, ch. 81-282; ss. 2, 3, ch. 81-318; ss. 254, 257, 807, 810, ch. 82-243; ss. 102, 206, 207, ch. 90-363; s. 4, ch. 91-429.

F.S. 626.794 on Google Scholar

F.S. 626.794 on Casetext

Amendments to 626.794

Arrestable Offenses / Crimes under Fla. Stat. 626.794

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 626.794.

Annotations, Discussions, Cases:

Cases from cite.case.law:

HULL COMPANY, INC. v. THOMAS,, 834 So. 2d 904 (Fla. Dist. Ct. App. 2003)

. . . The trial court found that section 626.794(1), Florida Statutes (1989) precluded any payments by Prudential . . . qualified life insurance agents holding currently valid licenses as required by the laws of this state. § 626.794 . . . Through section 626.794(1), the legislature has determined that a “valid license” is required in order . . . The ordinance in Wood is unlike section 626.794(1); the statute expressly precludes “any commission or . . . or materials provided outside of “services as a life insurance agent” within the meaning of section 626.794 . . .

NATIONAL BEN FRANKLIN LIFE INSURANCE CORPORATION, v. COHEN,, 464 So. 2d 1256 (Fla. Dist. Ct. App. 1985)

. . . The insurance company also cites Sections 626.561, 626.611, 626.753, 626.794, 626.9541, 627.403, 627.453 . . .

DADE COUNTY CONSUMER ADVOCATE S OFFICE, v. DEPARTMENT OF INSURANCE, 457 So. 2d 495 (Fla. Dist. Ct. App. 1984)

. . . elsewhere in chapter 626, specifically: section 626.753 (general lines agents and solicitors); section 626.794 . . .