(1) All premiums, return premiums, or other funds belonging to insurers or others received by a person licensed pursuant to this chapter in transactions under her or his license are trust funds received by the licensee in a fiduciary capacity, and the licensee must account for and pay the same to the insurer, insured, or other person entitled to such funds.
(2) A licensee shall keep and make available to the department books, accounts, and records as necessary to enable the department to determine whether such licensee is complying with this chapter. A licensee shall preserve the books, accounts, and records pertaining to a premium payment for at least 3 years after making such payment. Records that are preserved by computer or photographic reproduction or records that are in photographic form constitute compliance with this requirement.
(3) Any licensee who unlawfully diverts or appropriates such funds or any portion thereof to her or his own use commits larceny by embezzlement, punishable as provided by law.
History.—ss. 7, 47, ch. 90-131; s. 4, ch. 91-429; s. 501, ch. 97-102.
Structure Florida Statutes
Chapter 648 - Bail Bond Agents
648.24 - Declaration of Public Policy.
648.26 - Department of Financial Services; Administration.
648.27 - Licenses and Appointments; General.
648.285 - Bond Agency; Ownership Requirements.
648.29 - Build-Up Funds Posted by Bail Bond Agent.
648.295 - Reporting and Accounting of Funds.
648.30 - Licensure and Appointment Required; Prohibited Acts; Penalties.
648.31 - Appointment Taxes and Fees.
648.315 - Number of Applications for Licensure Required.
648.34 - Bail Bond Agents; Qualifications.
648.35 - Professional Bail Bond Agent; Qualifications.
648.36 - Bail Bond Agent’s Records.
648.365 - Statistical Reporting Requirements; Penalty for Failure to Comply.
648.38 - Licensure Examination for Bail Bond Agents; Time; Place; Fees; Scope.
648.383 - Renewal, Continuation, Reinstatement, and Termination of Appointment; Bail Bond Agents.
648.384 - Effect of Expiration of Appointment; Bail Bond Agents.
648.385 - Continuing Education Required; Requirements.
648.386 - Qualifications for Prelicensing and Continuing Education Schools and Instructors.
648.387 - Primary Bail Bond Agents; Duties.
648.388 - Insurer Must Appoint Managing General Agent.
648.40 - Application for Appointment of Professional Bail Bond Agents; Termination.
648.41 - Termination of Appointment of Temporary Bail Bond Agents.
648.42 - Registration of Bail Bond Agents.
648.421 - Notice of Change of Address or Telephone Number.
648.43 - Power of Attorney; Approval by Office; Filing of Copies; Notification of Transfer Bond.
648.44 - Prohibitions; Penalty.
648.441 - Furnishing Supplies to Unlicensed Bail Bond Agent Prohibited; Civil Liability and Penalty.
648.442 - Collateral Security.
648.45 - Actions Against a Licensee; Suspension or Revocation of Eligibility to Hold a License.
648.46 - Procedure for Disciplinary Action Against Licensees.
648.48 - Witnesses and Evidence.
648.49 - Duration of Suspension or Revocation.
648.50 - Effect of Suspension, Revocation Upon Associated Licenses and Licensees.
648.51 - Surrender of License.
648.55 - All Bail Bond Agents of Same Agency; Licensed by Same Companies.