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FL
237123
5-Hour Law and Ethics Update - Bail Bonds - CE5-237
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1
REGULATORY AWARENESS
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[<font face = "Times New Roman" size = "3">] [<i>] [<b>]§648.43 Power of attorney; approval by office; filing of copies; notification of transfer bond.—[</b>] (1) Every insurer engaged in the writing of bail bonds through bail bond agents in this state shall submit to the office for prior approval a sample power of attorney, which shall be the only form of power of attorney the insurer issues to bail bond agents in this state. [<p />] (2) Every professional bail bond agent who authorizes a licensed professional bail bond agent directly employed and appointed by him or her to sign his or her name to bonds must file a copy of the power of attorney given to the appointed professional bail bond agent with the sheriff and the clerk of the circuit court in the county in which he or she resides and with the department. Such power of attorney shall remain in full force and effect until written notice revoking the power of attorney has been received by the above-named officials. [<p />] (3) Every bail bond agent who executes or countersigns a transfer bond shall indicate in writing on the bond the name and address of the referring bail bond agent.[<br/>] [<b>]§648.442(8) Collateral security.—[</b>] (8) Prior to the appointment of a bail bond agent who is currently or was previously appointed by another insurer, the bail bond agent must file with the department a sworn and notarized affidavit, on a form prescribed by the department, stating that: [<p />] (a) There has been no loss, misappropriation, conversion, or theft of any collateral being held by the agent in trust for any insurer by which the agent is currently or was previously appointed; and[<br/>] (b) All collateral being held in trust by the agent and all records for any insurer by which the agent is currently or was previously appointed are available for immediate audit and inspection by the department, the insurer, or the managing general agent, and will upon demand of the department or insurer be transmitted to the insurer for whom the collateral is being held in trust. [<p />] [<b>]§648.45 Actions against a licensee; suspension or revocation of eligibility to hold a license.—[</b>] (1) The department shall, upon receipt of an information or indictment, immediately temporarily suspend any license or appointment issued under this chapter when the licensee has been charged with a felony or a crime involving moral turpitude or a crime punishable by imprisonment of 1 year or more under the law of any state, territory, or country. Such suspension shall continue if the licensee has been found guilty of, or has pleaded guilty or no contest to, the crime, whether or not a judgment or conviction has been entered, during a pending appeal. A person may not effect any additional bail bonds after suspension of his or her license or appointment. However, he or she may discharge any liability on bonds effected prior to such suspension. [<p />] (2) The department shall deny, suspend, revoke, or refuse to renew any license or appointment issued under this chapter or the insurance code, and it shall suspend or revoke the eligibility of any person to hold a license or appointment under this chapter or the insurance code, for any violation of the laws of this state relating to bail or any violation of the insurance code or if the person: [<p />] (a) Lacks one or more of the qualifications specified in this chapter for a license or appointment. [<p />] (b) Has made a material misstatement, misrepresentation, or fraud in obtaining a license or appointment, or in attempting to obtain a license or appointment. [<p />] (c) Has failed to pass any examination required under this chapter. [<p />] (d) Has willfully used, or intended the use, of the license or appointment to circumvent any of the requirements or prohibitions of this chapter or the insurance code. [<p />] (e) Has demonstrated lack of fitness or trustworthiness to engage in the bail bond business. [<p />] (f) Has demonstrated lack of reasonably adequate knowledge and technical competence to engage in the transactions authorized by the license or appointment. [<p />] (g) Has engaged in fraudulent or dishonest practices in the conduct of business under the license or appointment. [<p />] (h) Is guilty of misappropriation, conversion, or unlawful withholding of moneys belonging to a surety, a principal, or others and received in the conduct of business under a license. [<p />] (i) Is guilty of rebating or offering to rebate, or unlawfully dividing or offering to divide, any commission, in the case of a limited surety agent, or premiums, in the case of a professional bail bond agent. [<p />] (j) Has willfully failed to comply with or willfully violated any proper order or rule of the department or willfully violated any provision of this chapter or the insurance code. [<p />] (k) Has been found guilty of, or has pleaded guilty or no contest to a felony, a crime involving moral turpitude, or a crime punishable by imprisonment of 1 year or more under the law of any state, territory, or country, whether or not a judgment or conviction has been entered. [<p />] (l) Has demonstrated lack of good faith in carrying out contractual obligations and agreements. [<p />] (m) Has failed to perform a contractual obligation or agreement with a managing general agent or insurer which results in an unrecovered loss due to nonpayment of a forfeiture or judgment by the licensee. [<p />] (n) Has failed to return collateral. [<p />] (o)1. Has signed and filed a report or record in the capacity of an agent which the licensee knows to be false or misleading; [<p />] 2. Has willfully failed to file a report or record required by state or federal law; [<p />] 3. Has willfully impeded or obstructed such filing; or[<br/>] 4. Has induced another person to impede or obstruct such filing. [<p />] (p) Has demonstrated a course of conduct or practices which indicate that the licensee is incompetent, negligent, or dishonest or that property or rights of clients cannot safely be entrusted to him or her. [<p />] [<b>]§648.55 All bail bond agents of same agency; licensed by same companies.—[</b>] All bail bond agents who are members of the same agency, partnership, corporation, or association shall be appointed to represent the same companies. If any member of such agency, partnership, corporation, or association is licensed and appointed as a professional bail bond agent, all members thereof shall be so licensed and appointed. It is the responsibility of each insurer to require that each bail bond agent in an agency is appointed to represent that particular insurer. [<p />] [<b>]Florida Administrative Code 69B-211.002 General Procedures[</b>] (1) All applicants for licensure shall comply with the provisions of this rule chapter applicable to the class of license the applicant is seeking, and to applicable provisions within Rule Chapters 69B-212 through 69B-231, F.A.C. [<p />] (2)(a) An applicant for a license for which an examination is required shall complete all sections of Form DFS-H2-498, “Insurance License Application/Examination Required,” rev. 1097, and shall submit the application with the required fees to the Department. [<p />] (b) All applicants shall comply with Part II of this rule chapter regarding the photo identification license. [<p />] (c) All entities appointing insurance representatives shall comply with Part III of this rule chapter regarding the character and credit report. [<p />] (d) Applicants for particular licenses requiring an examination shall comply with the requirements in subsections (3) through (5), below.