(1) An “ordinary class insurer” is an insurer writing life insurance on the legal reserve plan, for amounts of $1,000 or more, with premiums payable on the annual, semiannual, quarterly, monthly, or weekly basis.
(2) An “ordinary-variable contract class insurer” is an insurer writing an ordinary class of insurance which insurer issues life insurance or annuity contracts providing for payments or values which vary directly according to investment experience.
History.—s. 285, ch. 59-205; s. 18, ch. 61-441; s. 4, ch. 73-31; s. 3, ch. 76-168; s. 1, ch. 77-457; s. 3, ch. 81-282; ss. 2, 3, ch. 81-318; ss. 257, 807, 810, ch. 82-243; ss. 206, 207, ch. 90-363; s. 4, ch. 91-429.
Structure Florida Statutes
Chapter 626 - Insurance Field Representatives and Operations
Part III - Life Insurance Agents (Ss. 626.776-626.798)
626.778 - This part supplements licensing law.
626.779 - “Life agent” defined.
626.780 - “Life insurer” defined.
626.781 - “Ordinary class insurer” and “ordinary-variable contract class insurer” defined.
626.782 - “Industrial class insurer” defined.
626.783 - “Ordinary-combination class insurer” defined.
626.7845 - Prohibition against unlicensed transaction of life insurance.
626.785 - Qualifications for license.
626.7851 - Requirement as to knowledge, experience, or instruction.
626.788 - United States Department of Veterans Affairs employees disqualified.
626.789 - Military service; special provisions.
626.792 - Nonresident agents; licensing and restrictions.
626.793 - Excess or rejected business.
626.794 - Unlawful payment or sharing of commissions.