635.051

Licensing and appointment of mortgage guaranty insurance agents.

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635.051 Licensing and appointment of mortgage guaranty insurance agents.—

(1) Effective October 1, 2012, a person may not transact mortgage guaranty insurance unless licensed and appointed as a credit insurance agent in accordance with the applicable provisions of the insurance code. Mortgage guaranty licenses held by persons on October 1, 2012, shall be transferred to a credit insurance agent license. Persons who wish to obtain a new license identification card that reflects this change must submit the $5 fee as prescribed in s. 624.501(15).

(2) Any general lines agent licensed under chapter 626 is qualified to represent a mortgage guaranty insurer without additional licensure.

(3) The department shall charge mortgage guaranty insurance agents the same applicable license and appointment taxes and fees as charged general lines agents in s. 624.501. The department shall deposit such license and appointment taxes and fees in the same manner as provided in s. 624.523 for the deposit of license and appointment taxes and fees by general lines agents.

History.—s. 5, ch. 59-182; ss. 13, 35, ch. 69-106; s. 2, ch. 81-318; ss. 6, 11, 12, ch. 83-281; s. 41, ch. 87-226; s. 158, ch. 91-108; ss. 3, 5, ch. 93-21; s. 483, ch. 97-102; s. 53, ch. 2012-209.

Notes of Decisions

Cited in 2 cases, 1988–1994 · leading case: Home Guaranty Insurance v. Numerica Financial Services, Inc.

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Home Guaranty Insurance v. Numerica Financial Services, Inc. (1988) ca11 · cites it 2× “, Fla.Stat. § 635.051 (1985) (licensing provisions incorporated).”

Federal Deposit Insurance Corp. v. Verex Assurance, Inc. (1994) fla · cites it 3× “Fla.Stat. § 635.051 (1981), titled "Licensing of mortgage guaranty insurance agents,” provides: (1) Agents of mortgage guaranty insurers shall be licensed, and be subject to the same qualifications and requirements, as apply to general lines agents under the laws of this state,…”

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