Florida Statute 634.421 | Lawyer Caselaw & Research

The 2024 Florida Statutes (including 2025 Special Session C)

Title XXXVII
INSURANCE

Chapter 634
WARRANTY ASSOCIATIONS

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F.S. 634.421

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

Arrestable Offenses / Crimes under Fla. Stat. 634.421

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

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 634.421.

Annotations, Discussions, Cases:

No results found for statute 634.421.