Florida Statute 634.421 - Full Text and Legal Analysis

The 2025 Florida Statutes

Title XXXVII
INSURANCE

Chapter 634
WARRANTY ASSOCIATIONS

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634.421 Reporting and accounting for funds.—

(1) All funds belonging to insurers, service warranty associations, or others received by a sales representative in transactions under her or his license or appointment are trust funds so received by the sales representative or agent in a fiduciary capacity; and the sales representative or agent, in the applicable regular course of business, shall account for and pay such funds to the insurer, association, warranty holder, or other person entitled thereto.

(2) Any sales representative who, not being entitled thereto, diverts or appropriates funds or any portion thereof to her or his own use commits theft as provided in s. 812.014.

History.—s. 5, ch. 78-255; s. 3, ch. 81-148; s. 2, ch. 81-318; s. 3, ch. 83-265; ss. 16, 36, 37, 38, ch. 83-322; s. 61, ch. 91-106; s. 152, ch. 91-108; s. 4, ch. 92-79; s. 20, ch. 93-195; s. 478, ch. 97-102; s. 103, ch. 2019-167.

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Amendments to 634.421

Annotations, Discussions, Cases:

Cases Citing Statute 634.421

Total Results: 1

W.C.P.S. of Florida, Inc. v. Standard Brands of America

707 So. 2d 416, 1998 Fla. App. LEXIS 2919, 1998 WL 130078

District Court of Appeal of Florida | Filed: Mar 25, 1998 | Docket: 64779626

Published

the individuals. As to Count II, based on section 634.421, Florida Statutes (1995), the complaint does

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