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FL
237123
5-Hour Law and Ethics Update - Bail Bonds - CE5-237
Section
1
REGULATORY AWARENESS
Lesson
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8
Other Requirements
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8
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[<font face = "Times New Roman" size = "3">] [<i>] [<b>]§626.9541(1)(m)-(n) Unfair methods of competition and unfair or deceptive acts or practices defined.—[</b>] 1. The provisions of paragraph (f), paragraph (g), or paragraph (h) do not prohibit a licensed insurer or its agent from: [<p id="2" />] a. Giving to insureds, prospective insureds, or others any article of merchandise, goods, wares, store gift cards, gift certificates, event tickets, anti-fraud or loss mitigation services, or other items having a total value of $100 or less per insured or prospective insured in any calendar year. [<p />] b. Making charitable contributions, as defined in s. 170(c) of the Internal Revenue Code, on behalf of insureds or prospective insureds, of up to $100 per insured or prospective insured in any calendar year. [<p />] (n) Free insurance prohibited.— 1. Advertising, offering, or providing free insurance as an inducement to the purchase or sale of real or personal property or of services directly or indirectly connected with such real or personal property. [<p />] 2. For the purposes of this paragraph, “free” insurance is: [<p />] a. Insurance for which no identifiable and additional charge is made to the purchaser of such real property, personal property, or services. [<p />] b. Insurance for which an identifiable or additional charge is made in an amount less than the cost of such insurance as to the seller or other person, other than the insurer, providing the same. [<p />] 3. Subparagraphs 1. and 2. do not apply to: [<p />] a. Insurance of, loss of, or damage to the real or personal property involved in any such sale or services, under a policy covering the interests therein of the seller or vendor. [<p />] b. Blanket disability insurance as defined in s. 627.659. [<p />] c. Credit life insurance or credit disability insurance. [<p />] d. Any individual, isolated, nonrecurring unadvertised transaction not in the regular course of business. [<p />] e. Title insurance. [<p />] f. Any purchase agreement involving the purchase of a cemetery lot or lots in which, under stated conditions, any balance due is forgiven upon the death of the purchaser. [<p />] g. Life insurance, trip cancellation insurance, or lost baggage insurance offered by a travel agency as part of a travel package offered by and booked through the agency. [<p />] 4. Using the word “free” or words which imply the provision of insurance without a cost to describe life or disability insurance, in connection with the advertising or offering for sale of any kind of goods, merchandise, or services. [<p />] [<b>]§648.36 Bail bond agent’s records.—[</b>] Each licensee must maintain in his or her office such records of bail bonds executed or countersigned by him or her to enable the department to obtain all necessary information concerning such bail bonds for at least 3 years after the liability of the surety has been terminated. Such records shall be open to examination, inspection, and photographic reproduction by the department or an authorized representative of the insurer or managing general agent, or agents of the department, at all times, and the department may at any time require the licensee to furnish to it, in such manner or form as it requires, any information concerning the bail bond business of such licensee. [<p />] [<b>]69B-221.055 Permanent Office Records Required[</b>] Each licensee, as a minimum requirement for permanent office records shall maintain: [<p />] (1) A daily bond register which shall be the book of original and permanent record of all bonds or undertakings executed by the licensee which shall state the number of the Power of Attorney form, date bond was executed, name of principal, amount of bond, premium charged, premium reported to surety company, security or collateral received, indemnity agreements, disposition of bond, and date of disposition. [<p />] (2) An individual file or envelope for each principal for whom bond is made which shall contain the original application for bail bond or undertaking, copy of premium receipt, copy of collateral receipt, copy of a bond discharge, if issued, security or collateral affidavit, where security or collateral is located, information as to any security or consideration received by the agency or licensee in connection with each particular bail bond or undertaking and purpose for which it was received, receipt or release executed by the person or persons posting security or collateral evidencing the return of such security or collateral and indemnity agreement as executed by co-indemnitors. [<p />] [<b>]69B-221.150 Department May Request Information[</b>] The Department may request any licensee or insurer to furnish it with any information concerning the bail bond business of any licensee or insurer which it deems necessary.