The proposed rule amendment expands the list of events that constitute a breach of a principal’s obligations to a surety company, allowing a surety company to rightfully act to apprehend, arrest, and surrender principal, in addition to denying a ...

DEPARTMENT OF FINANCIAL SERVICES
Division of Insurance Agents and Agency Services

RULE NO.: RULE TITLE:
69B-221.100: Terms and Conditions of Contract; Surrender Form
PURPOSE AND EFFECT: The proposed rule amendment expands the list of events that constitute a breach of a principal’s obligations to a surety company, allowing a surety company to rightfully act to apprehend, arrest, and surrender principal, in addition to denying a principal the right to any refund of premium. New paragraph 69B-221(1)(f), F.A.C., is added to the aforementioned list, describing an event where the indemnitor fails to make premium payment(s) as obligated under an agreement pursuant to subsection 69B-221.105(5), F.A.C. Subsection (2) of the proposed rule adds a link to the Department’s website where licensees may obtain copies of form DFS-H2-1542 (Statement of Surrender Form). The language in the existing rule that directs licensees to obtain the form from the Department’s Bail Bond Section is deleted.
SUBJECT AREA TO BE ADDRESSED: Terms and conditions that constitute breach of contract between of principal and a surety for a bail bond.
RULEMAKING AUTHORITY: 648.26 FS.
LAW IMPLEMENTED: 648.4425 FS.
IF REQUESTED IN WRITING AND NOT DEEMED UNNECESSARY BY THE AGENCY HEAD, A RULE DEVELOPMENT WORKSHOP WILL BE HELD AT THE DATE, TIME AND PLACE SHOWN BELOW:
DATE AND TIME: Tuesday, October 18, 2011, 10:30 a.m.
PLACE: 116 Larson Building, 200 East Gaines Street, Tallahassee, Florida
Pursuant to the provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this workshop/meeting is asked to advise the agency at least 5 days before the workshop/meeting by contacting: Richard Brinkley, [phone] or [e-mail]. If you are hearing or speech impaired, please contact the agency using the Florida Relay Service, 1(800)955-8771 (TDD) or 1(800)955-8770 (Voice).
THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE DEVELOPMENT AND A COPY OF THE PRELIMINARY DRAFT, IF AVAILABLE, IS: Richard Brinkley, Government Analyst II, Bureau of Investigation, Division of Insurance Agent & Agency Services, Department of Financial Services, 200 East Gaines Street, Tallahassee, Florida 32399-0319, [phone]

THE PRELIMINARY TEXT OF THE PROPOSED RULE DEVELOPMENT IS AVAILABLE AT NO CHARGE FROM THE CONTACT PERSON LISTED ABOVE.