The 2023 Florida Statutes (including Special Session C)

Title XXXVII
INSURANCE

Chapter 627
INSURANCE RATES AND CONTRACTS

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F.S. 627.826

627.826 “Premium finance company” defined.—

(1) An “insurance premium finance company” is:

(a) A person engaged, in whole or in part, in the business of entering into premium finance agreements with insureds; or

(b) A person engaged, in whole or in part, in the business of acquiring premium finance agreements from other premium finance companies.

(2) The following entities are exempt from the provisions of this part:

(a) Credit unions, banks, savings and loan associations, and other lending institutions as defined under chapters 516, 657, 658, and 665 or their federally chartered counterparts.

(b) Any person who purchases or otherwise acquires premium finance agreements from a licensee if the licensee retains the possession of and the legal obligation to service the agreements and collect payments due under the agreements and remains responsible for the premium finance agreements being administered in compliance with this part.

(3) The inclusion of a charge for insurance on a bona fide sale of goods or services on installments is not subject to the provisions of this part.

History.—s. 1, ch. 63-16; s. 3, ch. 76-168; s. 1, ch. 77-457; s. 166, ch. 79-164; s. 431, ch. 81-259; ss. 2, 3, ch. 81-318; ss. 594, 612, 809(2nd), ch. 82-243; s. 79, ch. 82-386; s. 204, ch. 92-303; s. 114, ch. 92-318; s. 1, ch. 2003-152.

F.S. 627.826 on Google Scholar

F.S. 627.826 on Casetext

Amendments to 627.826

Arrestable Offenses / Crimes under Fla. Stat. 627.826

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 627.826.

Annotations, Discussions, Cases:

Cases from cite.case.law:

SECURITY LIFE OF DENVER INSURANCE COMPANY, v. D. SHAH D. v. J., 906 F. Supp. 2d 1334 (S.D. Ga. 2012)

. . . . § 627.826(l)(a). . . . Stat. § 627.826. . . .

SMITH, v. FOREMOST INSURANCE COMPANY, a a, 884 So. 2d 341 (Fla. Dist. Ct. App. 2004)

. . . these fees violated the premium financing statutes of Florida Insurance Code parts XV and XVI, sections 627.826 . . . business, in whole or. in part, of entering into or acquiring premium finance agreements with insureds. § 627.826 . . . requires department licensure and use of department-approved premium finance agreements. §§ 627.902, 627.826 . . .

BEACON FINANCE, INC. d b a v. DEPARTMENT OF INSURANCE, STATE OF FLORIDA,, 656 So. 2d 197 (Fla. Dist. Ct. App. 1995)

. . . a premium finance company separately regulated under chapter 627 and separately defined in section 627.826 . . . See §§ 627.826(1) and 627.827, Fla.Stat. (1993). . . . .