DEPARTMENT OF FINANCIAL SERVICES
Division of Insurance Agents and Agency ServicesRULE NO: RULE TITLE
69B-240.001: Military Sales PracticesNOTICE OF CHANGE
Notice is hereby given that the following changes have been made to the proposed rule in accordance with subparagraph 120.54(3)(d)1., F.S., published in Vol. 33, No. 39, September 28, 2007 issue of the Florida Administrative Weekly.
These changes are being made to address concerns expressed by the Joint Administrative Procedures Committee.
69B-240.001 Military Sales Practices.
(1) through (4) No change.
(5) The following acts or practices when committed on a military installation by an insurance producer with respect to the in-person, face-to-face solicitation of life insurance are declared to be unfair or deceptive acts or practices by Section 626.9541(1)(a)9., and (d), F.S.:
(a) through (j) No change.
(6) The following acts or practices by an insurance producer constitute corrupt practices, improper influences or inducements and are declared to be unfair or deceptive acts or practices prohibited by Section 626.9541(1)(a)1.,6., and 9., F.S. or 626.9551(1)(a), F.S., regardless of the location where committed:
(a) No change.
(b) Receiving funds from a service member for the payment of premium from a depository institution with which the service member has no formal banking relationship. For purposes of this section, a formal banking relationship is established when the depository institution:
1. provides the service member a deposit agreement and periodic statements and makes the disclosures required by the Truth in Savings Act, 12 U.S.C. § 4304, which are hereby incorporated by reference; and the regulations promulgated thereunder, which are hereby incorporated by reference; and
2. No change.
(c) through (r) No change.
(s) Failing to make, at the time of sale or offer to an individual known to be a service member, the written disclosures required by the “Military Personnel Financial Services Protection Act,” Pub. L. No. 109-290, which are hereby incorporated by reference.
(t) through (y) No change.
(7) No change.
The remainder of the rule reads as previously published.
