2000 Florida Code
TITLE XXXVII INSURANCE
Chapter 626 Insurance Field Representatives And Operations
PART VII INSURANCE ADMINISTRATORS (ss. 626.88-626.899)
626.8809 Fidelity bond.
626.8809 Fidelity bond.--An administrator shall have and keep in full force and effect a fidelity bond equal to at least 10 percent of the amount of the funds handled or managed annually by the administrator. However, the department may not require a bond greater than $500,000 unless the department, after due notice to all interested parties and opportunity for hearing and after consideration of the record, requires an amount in excess of $500,000 but not more than 10 percent of the amount of the funds handled or managed annually by the administrator.
History.--ss. 29, 64, ch. 88-166; ss. 206, 207, ch. 90-363; s. 4, ch. 91-429.
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