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82.65 NOTICE TO COMMISSIONER.§ Subdivision 1.Change of application information.Notice in writing or in the format prescribed by the commissioner shall be given to the commissioner by a licensee of any change of information contained in the license application on file with the commissioner, including but not limited to personal name, trade name, address, or business location not later than ten days after the change. § Subd. 2.Mandatory.The licensee shall notify the commissioner in writing or in the format prescribed by the commissioner within ten days of the facts in subdivisions 3 to 5. § Subd. 3.Civil judgment.The licensee must notify the commissioner in writing of a final adverse decision or order of a court, whether or not the decision or order is appealed, regarding any proceeding in which the licensee was named as a defendant, and which alleged fraud, misrepresentation, or the conversion of funds, if the final adverse decision relates to the allegations of fraud, misrepresentation, or the conversion of funds. § Subd. 4.Disciplinary action.The licensee must notify the commissioner in writing of the suspension or revocation of the licensee's real estate or other occupational license issued by this state or another jurisdiction. § Subd. 5.Criminal offense.The licensee must notify the commissioner in writing if the licensee is charged with, adjudged guilty of, or enters a plea of guilty or nolo contendere to a charge of any felony, or of any gross misdemeanor alleging fraud, misrepresentation, conversion of funds, or a similar violation of any real estate licensing law. Official Publication of the State of Minnesota Compliance CornerThis section has been created to assist you in keeping your insurance business in compliance. The items are intended as reminders only and are not necessarily the exact text of the Florida Statutes or Florida Administrative Code. The legal cites have been provided for your further reference. Primary Bail Bond AgentsIt is the responsibility of the primary bail bond agent under sec. 648.55, F.S. to verify all the agents in the agency are appointed to represent the same surety companies. Failure to do so is cause for the Department to take formal action against the license of the primary bail bond agent designated for that agency. We encourage you to verify the appointments of the bail bond agents in your agency on a regular basis to avoid any action against your license for this type of violation. You can verify the license and active appointments of any bail bond licensee through our website at www.MyFloridaCFO.com/Division/Agents. Click on "Licensee Search" under the Quick Links section on our webpage to get to our search screen. You can search for an individual licensee by license number or name of the licensee. You can also print out the results of your search to keep a record of your activity. [See Rule 69B-241.100(41), Florida Administrative Code] Opening an Insurance AgencySo, you're thinking about opening your own insurance agency? Well, before you open the doors for the first time, a review of the laws and rules affecting insurance representatives and the operation of Florida insurance agencies could be very beneficial to you. After all, you want to maintain a compliant agency. Insurance laws are located in Title XXXVII of the Florida Statutes and in Chapter 69B of the Florida Administrative Code. Here's a quick overview of the laws and procedures that new (and not-so-new) agents frequently inquire about, along with the applicable legal citations, for opening an insurance agency. If that's not for you, you can also read the guidelines for opening a title insurance agency and bail bond agency on our website. Life and Health Agents: Working from Home?Many life and health agents rent space in a "virtual office" that are typically just conference rooms where the agent can meet with the clients outside of their home. However, the agent's home is usually the place where records are stored. Therefore the agent's home address should be listed as the business address on file with the Department, not the location of the rented space. You can easily update your address (and other demographic information) online via your MyProfile account. [See sec. 626.551 and 626.749, F.S.] Criminal History Reporting RequirementsApplicants are required to report on their application for a license all prior criminal history. In addition, once licensed they are required to report to the Department within 30 days of being found guilty or pleading guilty or nolo contendere (no contest) to any felony, or other crime punishable by one or more years in prison (even if a misdemeanor), or any violation of the state insurance laws, regardless of adjudication by the court. It is still required even if civil rights have been restored or an appeal is pending. Appointing entities are also required by law to advise the Department within 15 days after they or their general agent, officer, or other official becomes aware that an appointee has pleaded guilty or nolo contendere to or has been found guilty of a felony after being appointed. If the appointee is a bail bond agent, the appointing entity is required to report it within 5 days. [See 626.451 and 648.382, Florida Statutes] Moving to Florida? Leaving Florida? You Need a New LicenseIf you are licensed and appointed as a Florida nonresident agent or adjuster and you move to Florida, you can continue to transact insurance or adjust claims in this state under your nonresident license and appointment(s), for a period not to exceed 90 days. However, you must apply for and become licensed and appointed as a resident agent or adjuster within 90 days of becoming a resident of this state. Section 626.741(5), Florida Statutes, governs this procedure for general lines agents. Similar language is in the laws governing other types/classes of agents and adjusters. If you have a Florida resident license and move to another state, you must surrender your resident license to the Department. Most states require you to give up your Florida license before you can obtain a resident license in that state. Once you have obtained a resident license in your new home state, you may submit an application to us if you wish to become licensed as a Florida nonresident agent or adjuster. If you have a Florida nonresident license and you move to a state other than Florida, you may be eligible for a nonresident license if: 1) you become licensed in the other state for the same type/class(es) of license, and 2) the other state has a reciprocal agreement with Florida. You must provide the Department with a letter of certification from your new home state. Sec. 626.741(1), F.S., governs this procedure for general lines agents. Similar language is in the laws governing other types/classes of agents and adjusters. In all of the above cases, you must also be properly appointed for each type/class of license you hold, before you can transact insurance or adjust claims. If you change your state of residence and no longer wish to transact insurance or adjust claims, you must surrender your license to the Department. [See 626.292 and 626.551, Florida Statutes] Compliance InformationDepartment licensees and consumers can access compliance information at the Division's webpage Compliance Information. Additional information is available by type of license at our Frequently Asked Questions web page. If you do not surrender your license the clock continues clicking for any requirements to maintain your license, such as Continuing Education (CE). Failure to satisfy the requirement could cause action to be taken against your license which becomes a permanent record. Title Agencies: The 2015 Data CallThis is the first year title insurance agencies are required to submit information to the Florida Office of Insurance Regulation (OIR) under the data call required by section 627.782, Florida Statutes. Title agencies had until June 1, 2015 to make their submission to the OIR. The OIR sent emails to each licensed title agency in Florida to remind them of the new law with instructions on how to complete the process accurately. Based on the preliminary information we have received from the OIR, more than 90% of the licensed agencies have submitted a report. Agencies that have not complied with this requirement by June 1, 2015 are currently being reviewed for possible disciplinary action against the agency’s license. If you have any questions regarding this filing process, please contact the OIR's Market Data Collections Unit at 850-413-3147 or via email: . What is the maximum per day fine for an unlicensed branch in Florida?(f) An administrative fine of up to $1,000 per day, but not to exceed $25,000 cumulatively, for each day that: 1.
What is the minimum net worth required for a mortgage lender in Florida?(2) If the licensee is a mortgage servicer, it shall maintain a net worth of at least one hundred thousand dollars ($100,000), not including monies in any escrow accounts held for others.
Who makes licensing decisions in New York?The New York State Department of Financial Services (DFS) uses the Nationwide Multistate Licensing System and Registry (NMLS) to manage license applications and ongoing regulation.
Which of the following is true if a licensee is unable to meet renewal requirements by December 31 Florida?If the licensee fails to meet all renewal requirements and pay all required fees before March 1, the license is expired, and the business must apply for a new license.
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A licensee must notify the office within how many days of a felony conviction?
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