Fla. Stat. 634.141
Examination of companies

(1)

Motor vehicle service agreement companies licensed under this part may be subject to periodic examination 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. The office is not required to conduct periodic examinations pursuant to this section, but may examine a service agreement company at its discretion. An examination conducted pursuant to this section may cover a period of only the most recent 5 years. The costs of examinations conducted pursuant to ss. 624.316(2)(e) and 624.3161(3) may not exceed 10 percent of the companies’ reported net income for the prior year. The commission may by rule establish provisions whereby a company may be exempted from examination.

(2)

The office shall determine whether to conduct an examination of a company by considering:The amount of time that the company has been continuously licensed and operating under the same management and control.The company’s history of compliance with applicable law.The number of consumer complaints against the company.The financial condition of the company, demonstrated by the financial reports submitted pursuant to s. 634.137.

(a)

The amount of time that the company has been continuously licensed and operating under the same management and control.

(b)

The company’s history of compliance with applicable law.

(c)

The number of consumer complaints against the company.

(d)

The financial condition of the company, demonstrated by the financial reports submitted pursuant to s. 634.137.

Source: Section 634.141 — Examination of companies, https://www.­flsenate.­gov/Laws/Statutes/2024/0634.­141 (accessed Aug. 7, 2025).

634.011
Definitions 634.021
Powers of department, commission, and office 634.023
Part exclusive 634.031
License required 634.041
Qualifications for license 634.042
Prohibited investments and loans 634.044
Assets and liabilities 634.045
Guarantee agreements 634.052
Required deposit 634.053
Levy upon deposit limited 634.061
Application for and issuance of license 634.071
License continuance 634.081
Suspension or revocation of license 634.095
Prohibited acts 634.101
Order, notice of suspension or revocation of license 634.111
Duration of suspension 634.121
Forms, required procedures, provisions 634.131
Tax on premiums and assessments 634.136
Office records required 634.137
Financial and statistical reporting requirements 634.141
Examination of companies 634.151
Service of process 634.161
Service of process 634.171
Salesperson to be licensed and appointed 634.181
Grounds for compulsory refusal, suspension, or revocation of license or appointment of salespersons 634.191
Grounds for discretionary refusal, suspension, or revocation of license or appointment of salespersons 634.201
Refusal, suspension, or revocation of license or appointment of salespersons 634.211
Administrative fine in lieu of suspension or revocation of license or appointment 634.221
Disposition of taxes and fees 634.231
Insurance business not authorized 634.241
Prohibition against fronting 634.242
Injunctive proceedings 634.251
Penalty for violation 634.252
Acquisition 634.253
Delinquency proceedings 634.261
Voluntary compliance in lieu of suspension or revocation 634.271
Civil remedy 634.282
Unfair methods of competition and unfair or deceptive acts or practices defined 634.283
Power of department and office to examine and investigate 634.284
Prohibited practices 634.285
Cease and desist and penalty orders 634.286
Appeals from orders of the department or office 634.287
Penalty for violation of cease and desist order 634.288
Civil liability 634.1213
Noncompliant forms 634.1815
Rebating 634.2515
Penalty for selling agreements of a nonlicensed company 634.2815
Unfair methods of competition and unfair or deceptive acts or practices prohibited 634.2825
Motor vehicle service agreement cost specified in “price package.” 634.2855
Unauthorized entities

Current through Fall 2025

§ 634.141. Examination of companies's source at flsenate​.gov