(1) Suspension or revocation of the license of a company shall be by the order of the office mailed to the company by registered or certified mail. The office shall promptly also give notice of such suspension or revocation to the salespersons of the company in this state of record with the department. The company shall not solicit or write any new service agreements in this state during the period of any such suspension or revocation, nor after such revocation renew any business previously written.
(2) In its discretion, the office may cause notice of any such revocation to be published in one or more newspapers of general circulation published in this state.
(3) When the license is surrendered or revoked, the service agreement company shall proceed immediately, following the effective date of the surrender or order of revocation, to conclude its affairs transacted under this part. The service agreement company shall not solicit, negotiate, advertise, or effectuate new or renewal of service agreements. The office retains jurisdiction over the service agreement company as it may find to be in the best interest of the insured until all contracts have been fulfilled, canceled, or expired.
History.—s. 10, ch. 59-110; ss. 13, 35, ch. 69-106; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 2, 3, ch. 81-318; ss. 9, 32, 33, ch. 82-234; ss. 18, 68, ch. 91-106; s. 20, ch. 93-195; s. 455, ch. 97-102; s. 1426, ch. 2003-261.
Structure Florida Statutes
Chapter 634 - Warranty Associations
Part I - Motor Vehicle Service Agreement Companies (Ss. 634.011-634.288)
634.021 - Powers of department, commission, and office; rules.
634.023 - Part exclusive; applicability of other laws.
634.041 - Qualifications for license.
634.042 - Prohibited investments and loans.
634.044 - Assets and liabilities.
634.045 - Guarantee agreements.
634.053 - Levy upon deposit limited.
634.061 - Application for and issuance of license.
634.071 - License continuance.
634.081 - Suspension or revocation of license; grounds.
634.101 - Order, notice of suspension or revocation of license; effect; publication.
634.111 - Duration of suspension; obligations of company during suspension period; reinstatement.
634.121 - Forms, required procedures, provisions; delivery and definitions.
634.1213 - Noncompliant forms.
634.131 - Tax on premiums and assessments.
634.136 - Office records required.
634.137 - Financial and statistical reporting requirements.
634.141 - Examination of companies.
634.151 - Service of process; appointment of commissioner as process agent.
634.161 - Service of process; method.
634.171 - Salesperson to be licensed and appointed.
634.1815 - Rebating; when allowed.
634.201 - Refusal, suspension, or revocation of license or appointment of salespersons.
634.211 - Administrative fine in lieu of suspension or revocation of license or appointment.
634.221 - Disposition of taxes and fees.
634.231 - Insurance business not authorized.
634.241 - Prohibition against fronting.
634.242 - Injunctive proceedings.
634.251 - Penalty for violation.
634.2515 - Penalty for selling agreements of a nonlicensed company.
634.253 - Delinquency proceedings.
634.261 - Voluntary compliance in lieu of suspension or revocation.
634.2815 - Unfair methods of competition and unfair or deceptive acts or practices prohibited.
634.282 - Unfair methods of competition and unfair or deceptive acts or practices defined.
634.2825 - Motor vehicle service agreement cost specified in “price package.”
634.283 - Power of department and office to examine and investigate.
634.284 - Prohibited practices; hearings; procedure; service of process.
634.285 - Cease and desist and penalty orders.
634.2855 - Unauthorized entities; gifts and grants.
634.286 - Appeals from orders of the department or office.