The Florida Senate

626.8805  Certificate of authority to act as administrator.--

(1)  It is unlawful for any person to act as or hold himself or herself out to be an administrator in this state without a valid certificate of authority issued by the department pursuant to ss. 626.88-626.894. To qualify for and hold authority to act as an administrator in this state, an administrator must otherwise be in compliance with this code and with its organizational agreement. The failure of any person to hold such a certificate while acting as an administrator shall subject such person to a fine of not less than $5,000 or more than $10,000 for each violation.

(2)  The administrator shall file with the department an application for a certificate of authority upon a form to be furnished by the department, which application shall include or have attached the following information and documents:

(a)  All basic organizational documents of the administrator, such as the articles of incorporation, articles of association, partnership agreement, trade name certificate, trust agreement, shareholder agreement, and other applicable documents, and all amendments to those documents.

(b)  The bylaws, rules, and regulations or similar documents regulating the conduct or the internal affairs of the administrator.

(c)  The names, addresses, official positions, and professional qualifications of the individuals who are responsible for the conduct of the affairs of the administrator, including all members of the board of directors, board of trustees, executive committee, or other governing board or committee, the principal officers in the case of a corporation, the partners or members in the case of a partnership or association, and any other person who exercises control or influence over the affairs of the administrator.

(d)  Annual statements or reports for the 3 most recent years, or such other information as the department may require in order to review the current financial condition of the applicant.

(e)  If the applicant is not currently acting as an administrator, a statement of the amounts and sources of the funds available for organization expenses and the proposed arrangements for reimbursement and compensation of incorporators or other principals.

(3)  The applicant shall make available for inspection by the department copies of all contracts with insurers or other persons utilizing the services of the administrator.

(4)  The department shall not issue a certificate of authority if it determines that the administrator or any principal thereof is not competent, trustworthy, financially responsible, or of good personal and business reputation or has had an insurance license denied for cause by any state.

(5)  A certificate of authority issued under this section shall remain valid, unless suspended or revoked by the department, so long as the certificateholder continues in business in this state.

(6)  A certificate of authority issued under this section shall indicate that the administrator is authorized to administer commercial self-insurance funds or life and health programs or both, except that a certificate of authority issued prior to October 1, 1988, does not authorize the administration of commercial self-insurance funds.

History.--s. 4, ch. 83-203; s. 3, ch. 84-94; s. 28, ch. 88-166; ss. 206, 207, ch. 90-363; s. 4, ch. 91-429; s. 293, ch. 97-102.