The Florida Senate

626.9913  Viatical settlement provider license continuance; annual report; fees; deposit.--

(1)  A viatical settlement provider license continues in force until suspended or revoked.

(2)  Annually, on or before March 1, the viatical settlement provider licensee shall file a statement containing information the commission requires and shall pay to the office a license fee in the amount of $500. A viatical settlement provider shall include in all statements filed with the office all information requested by the office regarding a related provider trust established by the viatical settlement provider. The office may require more frequent reporting. Failure to timely file the annual statement or to timely pay the license fee is grounds for immediate suspension of the license.

(3)  A viatical settlement provider licensee must deposit and maintain deposited in trust with the department securities eligible for deposit under s. 625.52, having at all times a value of not less than $100,000. As an alternative to meeting the $100,000 deposit requirement, the provider may deposit and maintain deposited in trust with the department such securities in the amount of $25,000 and post with the office a surety bond acceptable to the office in the amount of $75,000.

(4)  There shall be no additional annual license fee or deposit requirements under this act for a related provider trust established by a viatical settlement provider.

History.--s. 4, ch. 96-336; s. 2, ch. 98-164; s. 1046, ch. 2003-261.