Senate Bill sb2702

    Florida Senate - 2007                                  SB 2702

    By Senator Aronberg





    27-1337A-07

  1                      A bill to be entitled

  2         An act relating to insurance representatives;

  3         amending s. 626.747, F.S.; providing that the

  4         licensed agent in charge of a financial

  5         institution, a securities dealer, or a funeral

  6         establishment, or an agency or branch office

  7         affiliated with such a financial institution,

  8         securities dealer, or funeral establishment,

  9         which is licensed or registered as an insurance

10         agency may also be the agent in charge of

11         branch locations if insurance activities

12         requiring licensure as an insurance agent do

13         not occur at any location when the agent is not

14         physically present and unlicensed employees at

15         the location do not engage in any insurance

16         activities requiring licensure as an insurance

17         agent; providing an effective date.

18  

19  Be It Enacted by the Legislature of the State of Florida:

20  

21         Section 1.  Section 626.747, Florida Statutes, is

22  amended to read:

23         626.747  Branch agencies.--

24         (1)  Each branch place of business established by an

25  agent or agency, firm, corporation, or association shall be in

26  the active full-time charge of a licensed general lines agent

27  or life or health agent who is appointed to represent one or

28  more insurers. Any agent or agency, firm, corporation, or

29  association which has established one or more branch places of

30  business shall be required to have at least one licensed

31  general lines agent who is appointed to represent one or more

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CODING: Words stricken are deletions; words underlined are additions.






    Florida Senate - 2007                                  SB 2702
    27-1337A-07




 1  insurers at each location of the agency including its

 2  headquarters location.

 3         (2)  If the agent or agency establishes places of

 4  business in more than one county, additional county tax is

 5  payable as provided in s. 624.505.

 6         (3)  Notwithstanding subsection (1), the licensed agent

 7  in charge of a financial institution as defined in s. 655.005,

 8  a securities dealer registered under s. 517.12, a funeral

 9  establishment licensed under chapter 497, or an agency or

10  branch office affiliated with such a financial institution,

11  securities dealer, funeral establishment, which is licensed or

12  registered as an insurance agency may also be the agent in

13  charge of branch office locations if insurance activities

14  requiring licensure as an insurance agent do not occur at any

15  location when the agent is not physically present and

16  unlicensed employees at the location do not engage in any

17  insurance activities requiring licensure as an insurance

18  agent.

19         Section 2.  This act shall take effect July 1, 2007.

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22                          SENATE SUMMARY

23    Provides that the licensed agent in charge of a financial
      institution, a securities dealer, or a funeral
24    establishment, or an agency or branch office affiliated
      with such a financial institution, securities dealer, or
25    funeral establishment, which is licensed or registered as
      an insurance agency may also be the agent in charge of
26    branch locations under certain conditions.

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CODING: Words stricken are deletions; words underlined are additions.