Rules 69O-198.011, and .012, F.A.C., is being amended to update forms OIR-C1-997, “Application for License Service Warranty Association,” OIR-A3-110, “License Continuance Form Service Warranty Association,” OIR-C1-989, “Application ....

 

DEPARTMENT OF FINANCIAL SERVICES

OIR – Insurance Regulation

RULE NOS.:RULE TITLES:

69O-198.011Application for and Issuance of License and License Continuance

69O-198.012Annual Statement

PURPOSE AND EFFECT: Rules 69O-198.011, and .012, F.A.C., is being amended to update forms OIR-C1-997, “Application for License Service Warranty Association,” OIR-A3-110, “License Continuance Form Service Warranty Association,” OIR-C1-989, “Application for License Service Warranty Association Manufacturer or Affiliate,” OIR-A3-955, “License Continuance Form Service Warranty Association Manufacturer or Affiliate,” OIR-A3-458, “Annual Filing Statement for Publicly Held Corporations – SEC Filings,”

The changes remove the invoices from these forms which are no longer needed due to changes in payment processing, improves formatting, and updates addresses.

SUMMARY: Rules 69O-198.011, and .012, F.A.C., is being amended to update forms OIR-C1-997, “Application for License Service Warranty Association,” OIR-A3-110, “License Continuance Form Service Warranty Association,” OIR-C1-989, “Application for License Service Warranty Association Manufacturer or Affiliate,” OIR-A3-955, “License Continuance Form Service Warranty Association Manufacturer or Affiliate,” OIR-A3-458, “Annual Filing Statement for Publicly Held Corporations – SEC Filings,”

The changes remove the invoices from these forms which are no longer needed due to changes in payment processing, improves formatting, and updates addresses.

SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS AND LEGISLATIVE RATIFICATION:

The Agency has determined that this will not have an adverse impact on small business or likely increase directly or indirectly regulatory costs in excess of $200,000 in the aggregate within one year after the implementation of the rule. A SERC has not been prepared by the Agency.

Any person who wishes to provide information regarding a statement of estimated regulatory costs, or provide a proposal for a lower cost regulatory alternative must do so in writing within 21 days of this notice.

RULEMAKING AUTHORITY: 634.402, F.S.

LAW IMPLEMENTED: 624.424, 634.407, 634.408, 634.404, 634.516(1), 634.415, F.S.

IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE SCHEDULED AND ANNOUNCED IN THE FAR.

THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Kama Monroe, Assistant General Counsel, Office of Insurance Regulation, [e-mail], [phone].

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

69O-198.011 Application for and Issuance of License and License Continuance.

(1) Application for License as a Service Warranty Association

(a) An application for a person applying for a license as a service warranty association consists of the following:

1. Form OIR-C1-997, “Application for License Service Warranty Association,” effective 07/23 3/21, hereby incorporated by reference and available at http://www.flrules.org/Gateway/______;  http://www.flrules.org/Gateway/reference.asp?No=Ref-13047;

2. Form OIR-A3-455, “Home or Service Warranty Association Surety Bond,” effective 5/20, hereby incorporated by reference and available at http://www.flrules.org/Gateway/reference.asp?No=Ref-13040;

3. Form OIR-C1-144, incorporated by reference in Rule 69O-136.100, F.A.C.; “Service of Process Consent & Agreement,” effective 6/04, hereby incorporated by reference and available at http://www.flrules.org/Gateway/reference.asp?No=Ref-13043;

4. Form OIR-C1-905, incorporated by reference in Rule 69O-136.100, F.A.C.; “Instructions for Furnishing Background Investigative Reports,” effective 6/20, hereby incorporated by reference and available at http://www.flrules.org/Gateway/reference.asp?No=Ref-13044;

5. Form OIR-C1-938, incorporated by reference in Rule 69O-136.100, F.A.C.; “Fingerprint Payment and Submission Procedures,” effective 6/20, hereby incorporated by reference and available at http://www.flrules.org/Gateway/reference.asp?No=Ref-13045;

6. Form OIR-C1-995, incorporated by reference in Rule 69O-136.100, F.A.C.; “List of Proposed Sales Representatives,” effective 10/05, hereby incorporated by reference and available at http://www.flrules.org/Gateway/reference.asp?No=Ref-13046;

7. Form OIR-C1-1423, incorporated by reference in Rule 69O-136.100, F.A.C.; “Biographical Affidavit,” effective 6/20, hereby incorporated by reference and available at http://www.flrules.org/Gateway/reference.asp?No=Ref-13048; and

8. Form OIR-C1-0500, incorporated by reference in Rule 69O-136.100, F.A.C.;

9. Form OIR-C1-0501, incorporated by reference in Rule 69O-136.100, F.A.C.;

10. Form OIR-C1-0502, incorporated by reference in Rule 69O-136.100, F.A.C.;

11. Form OIR-C1-0503, incorporated by reference in Rule 69O-136.100, F.A.C.;

12. Form OIR-C1-0504, incorporated by reference in Rule 69O-136.100, F.A.C.;

13. Form OIR-C1-0505, incorporated by reference in Rule 69O-136.100, F.A.C.;

14. Form OIR-C1-0506, incorporated by reference in Rule 69O-136.100, F.A.C.;

15. Form OIR-C1-0507, incorporated by reference in Rule 69O-136.100, F.A.C.;

16. Form OIR-C1-0509, incorporated by reference in Rule 69O-136.100, F.A.C.; and

17.8. Form OIR-C1-2221, incorporated by reference in Rule 69O-136.100, F.A.C. “Management Information Form,” effective 6/20, hereby incorporated by reference and available at http://www.flrules.org/Gateway/reference.asp?No=Ref-13049.

(b) A person applying for a license as a service warranty association shall submit forms listed in paragraph (1)(a) as directed by the Office electronically at https://www.floir.com/iportal.

(2) License Continuance for Service Warranty Association

(a)1. A service warranty association’s license shall continue in force as long as the licensee is in compliance with the provisions of Chapter 634, Part III, F.S.

2. Failure to submit the application for continuance by March 1 shall result in expiration of the license and will require the filing of a new application for licensure.

(b) A licensee seeking to continue operating as a service warranty association shall submit the following:

1. Form OIR-A3-110, “License Continuance Form Service Warranty Association,” effective 07/23 5/20, hereby incorporated by reference and available at http://www.flrules.org/Gateway/______, http://www.flrules.org/Gateway/reference.asp?No=Ref-13041, filed electronically at https://www.floir.com/iportal; and

2. A fee of $200.00 filed annually in conjunction with the March 1 filing of the annual statement.

(c) Any licensee who fails to renew a service warranty association license shall immediately cease and desist from engaging in the service warranty business in the state of Florida. The service warranty association shall honor those service warranty contracts in force until the date of expiration or the date of cancellation and a refund is made to the consumer.

(3) Application for License as a Service Warranty Association Manufacturer or Affiliate.

(a) An application for a person applying for a license as a service warranty association manufacturer or affiliate consists of the following:

1. Form OIR-C1-989, “Application for License Service Warranty Association Manufacturer or Affiliate,” effective 07/23 3/21, hereby incorporated by reference and available at http://www.flrules.org/Gateway/______;  http://www.flrules.org/Gateway/reference.asp?No=Ref-13050;

2. Form OIR-C1-144, incorporated by reference in paragraph (1)(a); and

3. Form OIR-C1-2221, incorporated by reference in paragraph (1)(a).

(b) A person applying for a license as a service warranty association shall submit forms listed in paragraph (3)(a) as directed by the Office electronically at https://www.floir.com/iportal.

(4) License Continuance for Service Warranty Association Manufacturer or Affiliate

(a)1. A service warranty association manufacturer or affiliate’s license shall continue in force as long as licensee is in compliance with the provisions of Chapter 634, Part III, F.S.

2. Failure to submit the application for continuance by March 1 shall result in expiration of the license and will require the filing of a new application for licensure.

(b) A licensee seeking to continue operating as a service warranty association manufacturer or affiliate shall submit the following:

1. Form OIR-A3-955, “License Continuance Form Service Warranty Association Manufacturer or Affiliate,” effective 07/23 5/20, hereby incorporated by reference and available at http://www.flrules.org/Gateway/______,  http://www.flrules.org/Gateway/reference.asp?No=Ref-13042, filed electronically at https://www.floir.com/iportal; and

2. A fee of $500.00 filed annually in conjunction with the March 1 filing of the annual statement.

(c) Any licensee who fails to renew a service warranty association license shall immediately cease and desist from engaging in the service warranty business in the state of Florida. The service warranty association shall honor those service warranty contracts in force until the date of expiration or the date of cancellation and a refund is made to the consumer.

Rulemaking Authority 634.402 FS. Law Implemented 624.424, 634.407, 634.408, 634.404 FS. History–New 3-28-93, Formerly 4-198.011, Amended 5-25-21, _____.

 

69O-198.012 Annual Statement.

Annual Statements are required to be filed with the Office, on or before March 1 of each year, on Form OIR-A3-456, “Annual Statement for Service Warranty Association,” effective 5/20, hereby incorporated by reference and available at http://www.flrules.org/Gateway/reference.asp?No=Ref-13038, and Form OIR-A3-458, “Annual Filing Statement for Publicly Held Corporations – SEC Filings,” effective 07/23 5/20, hereby incorporated by reference and available at http://www.flrules.org/Gateway/______. http://www.flrules.org/Gateway/reference.asp?No=Ref-13039. The filings shall be submitted electronically via the Office’s system at https://www.floir.com/iportal. If the Annual Statements are not complete to include all information requested in the format provided, they will not be deemed filed until all deficiencies are corrected.

Rulemaking Authority 634.402 FS. Law Implemented 624.424, 634.415, 634.516(1) FS. History–New 12-26-88, Amended 4-26-90, Formerly 4-67.012, 4-198.012, Amended 7-30-17, 5-25-21, _____.

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Kama Monroe, Assistant General Counsel

NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Financial Services Commission

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: September 18, 2023

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: July 24, 2023