Senate Bill 0900

    Florida Senate - 1999                                   SB 900

    By Senator Rossin





    35-545A-99

  1                      A bill to be entitled

  2         An act relating to insurance; amending s.

  3         626.094, F.S.; redefining the term "insurance

  4         agency" for certain purposes; providing an

  5         effective date.

  6

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

  8

  9         Section 1.  Section 626.094, Florida Statutes, is

10  amended to read:

11         626.094  "Insurance agency" defined.--An "insurance

12  agency" is a business location at which an individual, firm,

13  partnership, corporation, association, or other entity, except

14  for an employee of the individual, firm, partnership,

15  corporation, association, or other entity, and other than an

16  insurer as defined by s. 624.03 or an adjuster as defined by

17  s. 626.101, engages in any activity or employs individuals to

18  engage in any activity which by law may be performed only by a

19  licensed insurance agent or solicitor. A foreign corporation

20  formed by a Florida resident or a Florida business entity

21  primarily for the purpose of placing a nonresident agent's

22  license into it and thereafter marketing property and casualty

23  insurance in this state is not an insurance agency for

24  purposes of s. 626.753.

25         Section 2.  This act shall take effect July 1, 1999.

26

27            *****************************************

28                          SENATE SUMMARY

29    Provides that certain foreign corporations are not
      insurance agencies for purposes of sharing commissions.
30

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