Florida Statute 642.038 | Lawyer Caselaw & Research

The 2024 Florida Statutes

Title XXXVII
INSURANCE

Chapter 642
LEGAL EXPENSE INSURANCE

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F.S. 642.038

642.038 Reporting and accounting for funds.—

(1) All funds belonging to an insurer or other person received by a sales representative in transactions under his or her license and appointment shall be trust funds so received by such representative in a fiduciary capacity; and the representative, in the applicable regular course of business, shall account for and pay the same to the insurer or other person entitled thereto.

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

History.—s. 1, ch. 79-103; s. 2, ch. 81-318; ss. 15, 20, 21, ch. 83-278; s. 179, ch. 91-108; s. 4, ch. 92-79; ss. 6, 7, ch. 93-147; s. 497, ch. 97-102; s. 104, ch. 2019-167.

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Amendments to 642.038

Arrestable Offenses / Crimes under Fla. Stat. 642.038

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

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 642.038.

Annotations, Discussions, Cases:

Cases Citing Statute 642.038

Total Results: 1

State ex rel. Buford v. Watkins

Court: Supreme Court of Florida | Date Filed: 1923-04-28

Citation: 88 Fla. 392, 102 So. 347

Snippet: 572, and Darcy v. City of San Jose, 104 Cal. 642, 38 Pac. Rep. 500, the statutes in effeet permanently