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 department requires and shall pay to the department a license fee in the amount of $500. The department 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 department a surety bond acceptable to the department in the amount of $75,000.

History.--s. 4, ch. 96-336.