Fla. Stat. § 624.523 — Florida Code / Title XXXVII / Chapter 624 / Part IV / Section 624.523
624.523 Insurance Regulatory Trust Fund.
Status: in_force

(1) There is created in the State Treasury a trust fund designated “Insurance Regulatory Trust Fund” to which shall be credited all payments received on account of the following items: (a) All fines, monetary penalties, and costs imposed upon persons by the department or the office as authorized by law for violation of the laws of this state. (b) Any sums received for copies of the stenographic record of hearings, as authorized by law. (c) All sums received under s. 624.404(5). (d) All sums received under s. 624.5091, as provided in subsection (5) thereof. (e) All payments received on account of items provided for under respective provisions of s. 624.501, as follows: 1. Subsection (1) (certificate of authority of insurer). 2. Subsection (2) (charter documents of insurer). 3. Subsection (3) (annual license tax of insurer). 4. Subsection (4) (annual statement of insurer). 5. Subsection (5) (application fee for insurance representatives). 6. The “appointment fee” portion of any appointment provided for under paragraphs (6)(a) and (b) (insurance representatives, property, marine, casualty and surety insurance, and agents). 7. Paragraph (6)(c) (nonresident agents). 8. Paragraph (6)(d) (service representatives). 9. The “appointment fee” portion of any appointment provided for under paragraph (7)(a) (life insurance agents, original appointment, and renewal or continuation of appointment). 10. Paragraph (7)(b) (nonresident agent license). 11. The “appointment fee” portion of any appointment provided for under paragraph (8)(a) (health insurance agents, agent’s appointment, and renewal or continuation fee). 12. Paragraph (8)(b) (nonresident agent appointment). 13. The “appointment fee” portion of any appointment provided for under subsections (9) and (10) (limited licenses and fraternal benefit society agents). 14. Subsection (11) (surplus lines agent). 15. Subsection (12) (adjusters’ appointment). 16. Subsection (13) (examination fee). 17. Subsection (14) (temporary license and appointment as agent or adjuster). 18. Subsection (15) (reissuance, reinstatement, etc.). 19. Subsection (16) (additional license continuation fees). 20. Subsection (17) (filing application for permit to form insurer). 21. Subsection (18) (license fee of rating organization). 22. Subsection (19) (miscellaneous services). 23. Subsection (20) (insurance agencies). (f) All payments received on account of actuarial and other services in the valuation or computation of the reserves of life insurers pursuant to s. 625.121(2). (g) All sums received under ss. 626.711 and 626.743. (h) All sums received under s. 627.828. (i) All sums received from motor vehicle service agreement companies under s. 634.221. (j) All sums received under s. 648.27 (bail bond agent, limited surety agent, continuation fee), the “appointment fee” portion of any license or permit provided for under s. 648.31, and the application fees provided for under s. 648.34(3). (k) All sums received under s. 651.015. (l) All sums received by the Chief Financial Officer or the director of the office as fees for her or his services as service-of-process agent. (m) All state tax portions of agents’ licenses collected under s. 624.501. (n) All sums received under s. 626.932(5). (o) All sums received under s. 626.938(7).

(2) The moneys so received and deposited in this regulatory trust fund are hereby appropriated for use by the department and the office to defray the expenses of the department and the office in the discharge of their administrative and regulatory powers and duties as prescribed by law.

History: s. 98, ch. 59-205; s. 2, ch. 61-119; s. 8, ch. 65-269; s. 2, ch. 67-260; s. 2, ch. 67-279; ss. 13, 35, ch. 69-106; s. 3, ch. 76-168; s. 1, ch. 77-237; s. 1, ch. 77-457; s. 2, ch. 81-48; s. 77, ch. 82-243; s. 8, ch. 82-386; s. 43, ch. 83-215; ss. 40, 48, ch. 90-132; s. 200, ch. 90-363; s. 44, ch. 91-108; s. 57, ch. 93-148; s. 53, ch. 93-193; s. 118, ch. 93-399; s. 16, ch. 95-211; s. 199, ch. 97-102; s. 45, ch. 2002-206; s. 30, ch. 2002-260; s. 76, ch. 2003-1; s. 850, ch. 2003-261; s. 6, ch. 2009-70; s. 1, ch. 2014-60; s. 75, ch. 2015-2.