634.4062 Prohibited investments and loans. - Florida Statutes

634.4062 Prohibited investments and loans.

A service warranty association shall not directly or indirectly invest in or lend its funds upon the security of any note or other evidence of indebtedness of any director, officer, or controlling stockholder of the service warranty association. This prohibition applies only to investments and loans initially reported on a service warranty association’s financial statements after the third quarterly statement for 2006.

History. s. 8, ch. 2006-272.