634.314 Examination of associations. - Florida Statutes

634.314 Examination of associations.

   (1) Home warranty associations licensed under this part may be subject to periodic examinations by the office, in the same manner and subject to the same terms and conditions as apply to insurers under part II of chapter 624 of the insurance code.

   (2) The office shall determine whether to conduct an examination of a home warranty association by considering:

   (a) The amount of time that the association has been continuously licensed and operating under the same management and control.

   (b) The association’s history of compliance with applicable law.

   (c) The number of consumer complaints against the association.

   (d) The financial condition of the association, demonstrated by the financial reports submitted pursuant to s. 634.313.

History. s. 1, ch. 77-339; s. 3, ch. 81-148; s. 2, ch. 81-318; s. 3, ch. 83-265; ss. 32, 33, 34, ch. 83-323; s. 1, ch. 84-94; s. 20, ch. 93-195; s. 1468, ch. 2003-261; s. 25, ch. 2010-175.