14084708, 69B-231.090 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 14084708

Notice of Proposed Rule

Department:

DEPARTMENT OF FINANCIAL SERVICES

Division:

Division of Insurance Agent and Agency Services

Chapter:

PENALTY GUIDELINES FOR INSURANCE REPRESENTATIVES

Overview

RULE:

69B-231.090

Penalties for Violations of Section 626.621, F.S.

PURPOSE:

Section 626.207(8), F.S., requires the Department to adopt rules establishing specific penalties against licensees for violations of Section 626.621 F.S. The proposed rule sets forth the penalties for violations of subsections 626.621(13) and (14), F.S.

SUMMARY:

The rule will impose the highest identical penalty, if available, or a substantially similar penalty to the highest penalty imposed for a violation of subsection 626.621(13), F.S. When substantially similar penalties are not available, the rule imposes specified penalties based upon whether the order contains allegations or findings related to monetary loss, fraud, misappropriation, conversion or the unlawful withholding of money. A violation of Section 626.621(14), F.S., will result in the imposition of a 6 month suspension.

RULEMAKING AUTHORITY:

624.308, 626.207(8) FS

LAW:

624.307(1), 624.308, 626.207, 626.621 FS

PRINT PUBLISH DATE:

1/21/2014 Vol. 40/13

COMMENTS:

From 1/21/2014 To 2/11/2014 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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