| 1 | A bill to be entitled |
| 2 | An act relating to branch insurance agencies; amending s. |
| 3 | 626.747, F.S.; authorizing certain licensed agents to be |
| 4 | the agent in charge of branch locations under certain |
| 5 | circumstances; providing limitations; providing an |
| 6 | appropriation; providing an effective date. |
| 7 |
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| 8 | Be It Enacted by the Legislature of the State of Florida: |
| 9 |
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| 10 | Section 1. Subsection (1) of section 626.747, Florida |
| 11 | Statutes, is amended to read: |
| 12 | 626.747 Branch agencies.-- |
| 13 | (1)(a) Each branch place of business established by an |
| 14 | agent or agency, firm, corporation, or association shall be in |
| 15 | the active full-time charge of a licensed general lines agent or |
| 16 | life or health agent who is appointed to represent one or more |
| 17 | insurers. Any agent or agency, firm, corporation, or association |
| 18 | which has established one or more branch places of business |
| 19 | shall be required to have at least one licensed general lines |
| 20 | agent who is appointed to represent one or more insurers at each |
| 21 | location of the agency including its headquarters location. |
| 22 | (b) Notwithstanding paragraph (a), the licensed agent in |
| 23 | charge of a financial institution as defined in s. |
| 24 | 655.005(1)(h), securities dealer registered pursuant to s. |
| 25 | 517.12, or funeral establishment licensed pursuant to chapter |
| 26 | 497, or an agency affiliated with such a financial institution, |
| 27 | securities dealer, or funeral establishment, or a branch of such |
| 28 | an agency, that is licensed or registered as an insurance agency |
| 29 | may also be the agent in charge of branch locations provided no |
| 30 | insurance activities requiring licensure as an insurance agent |
| 31 | occur at any location when the agent is not physically present |
| 32 | and no unlicensed employee at the location engages in any |
| 33 | insurance activities requiring licensure as an insurance agent. |
| 34 | (c) Notwithstanding paragraphs (a) and (b), the licensed |
| 35 | agent in charge of an insurance agency not affiliated with a |
| 36 | financial institution as defined in s. 655.005, a securities |
| 37 | dealer registered under s. 517.12, or a funeral establishment |
| 38 | licensed under chapter 497 may also be the agent in charge of |
| 39 | such additional branch office locations if insurance activities |
| 40 | requiring licensure as an insurance agent do not occur at any |
| 41 | location when the agent is not physically present and unlicensed |
| 42 | employees at the location do not engage in any insurance |
| 43 | activities requiring licensure as an insurance agent or customer |
| 44 | service representative. |
| 45 | Section 2. For fiscal year 2007-2008, the sum of $132,000 |
| 46 | in nonrecurring funds from the Insurance Regulatory Trust Fund |
| 47 | is appropriated to the Department of Financial Services for |
| 48 | computer system changes necessary to implement the provisions of |
| 49 | section 626.747, Florida Statutes. |
| 50 | Section 3. This act shall take effect July 1, 2007. |