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Fla. Stat. § 627.678 (2025)

Rules.

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627.678 Rules.—
(1) For the effective protection of the public interest, the commission shall have full power and authority to adopt, and the office shall enforce, separate rules pertaining to issuance and use of each type of credit insurance defined in s. 627.677.
(2) Rules made pursuant to this section shall be principally designed, and shall be promulgated with the purpose of protecting the borrower from excessive charges by or collected through the lender for insurance in relation to the amount of the loan, to avoid duplication or overlapping of insurance coverage and to avoid loss of the borrower’s funds by short-rate cancellation or termination of such insurance. However, nothing in such rules shall be construed to authorize the department, commission, or office to prohibit operation of normal dividend distributions under participating insurance contracts.
History.—s. 597, ch. 59-205; ss. 10, 13, 35, ch. 69-106; s. 3, ch. 76-168; s. 1, ch. 77-457; s. 21, ch. 78-95; ss. 2, 3, ch. 81-318; ss. 529, 537, 809(2nd), ch. 82-243; s. 79, ch. 82-386; s. 114, ch. 92-318; s. 1178, ch. 2003-261.
Notes of Decisions
Cited in 1 case, 2014–2014 · leading case: State v. Beach Blvd Auto., Inc., 139 So. 3d 380 (Fla. 1st DCA 2014).
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State v. Beach Blvd Auto., Inc., 139 So. 3d 380 (Fla. 1st DCA 2014). · cites it 2× “Section 627.678(1), Florida Statutes (2011), provides that “[f]or the effective protection of the public interest, the commission [the Financial Services Commission] shall have full power and authority to adopt, and the office [Office of Insurance Regulation] shall enforce,…”
— 627.678(1) — 1 case
State v. Beach Blvd Auto., Inc., 139 So. 3d 380 (Fla. 1st DCA 2014). “Section 627.678(1), Florida Statutes (2011), provides that “[f]or the effective protection of the public interest, the commission [the Financial Services Commission] shall have full power and authority to adopt, and the office [Office of Insurance Regulation] shall enforce,…”
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This Florida statute resource is curated by Florida Bar member Graham W. Syfert, a Jacksonville, Florida personal injury and workers' compensation attorney (Florida Bar No. 39104). Attorney Syfert regularly handles Chapter 627 matters in the context of insurance coverage law and represents clients throughout Northeast Florida. For legal consultation, call 904-383-7448.