Florida Statute 635.051 - Full Text and Legal Analysis

The 2025 Florida Statutes

Title XXXVII
INSURANCE

Chapter 635
MORTGAGE GUARANTY INSURANCE

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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.

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Amendments to 635.051

Annotations, Discussions, Cases:

Cases Citing Statute 635.051

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Fed. Deposit Ins. Corp. v. Verex Assurance, Inc., 645 So. 2d 427 (Fla. 1994).

Published | Supreme Court of Florida | 19 Fla. L. Weekly Supp. 593, 1994 Fla. LEXIS 1813

...treated separately and differently from other insurance, except to the extent that the legislature chose to incorporate certain other provisions of the general insurance code. According to FDIC, the Florida legislature effected this incorporation in § 635.051 [ FN3 ] and § 635.081 [ FN4 ]....

...r not have issued the policy or contract ... if the true facts had been made known to the insurer as required either by the application for the policy or contract or otherwise. . See also § 25.031, Fla.Stat. (1993); Fla. R.App.P. 9.150. . 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 th...

...FDIC contends that when the Florida legislature enacted § 635.091, it did so to clarify by detailed statement of chapter and section those provisions of the insurance code previously applicable to mortgage guaranty insurers through subject matter description in sections 635.051 and 635.081....

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Home Guar. Ins. v. Numerica Fin. Servs., Inc., 835 F.2d 1354 (11th Cir. 1988).

Published | Court of Appeals for the Eleventh Circuit

...Mortgage guaranty insurance is instead regulated by Chapter 635 of the Florida statutes. Fla.Stat. § 635.091 (1985) (“Section 635.091”) provides that certain other parts of the Insurance Code apply to Chapter 635. 6 In addition, Chapter 635 expressly incorporates some portions of the Insurance Code. See, e.g., Fla.Stat. § 635.051 (1985) (licensing provisions incorporated)....

...d as such, sections of Chapter 635 expressly mention this fact. Many provisions of the Insurance Code do apply to Chapter 635, and regulate the business fairly thoroughly. In addition to those provisions incorporated under Section 635.091, Fla.Stat. § 635.051 (1985) incorporates most of the general licensing laws into the chapter; Fla.Stat....

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