December 10, 2019
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The Florida Statutes

The 2001 Florida Statutes

Title XXXVII
Insurance
Chapter 624
Insurance Code: Administration And General Provisions
View Entire Chapter
Section 624.305, Florida Statutes 2001

624.305  Prohibited interests, rewards.--

(1)  No employee of the department, including the Insurance Commissioner and Treasurer shall:

(a)  Be financially interested, directly or indirectly, in any insurer or insurance agency authorized to transact insurance in this state, or in any insurance transaction except as a policyholder or claimant under a policy; or

(b)  Be given or receive any fee, compensation, loan, gift, or other thing of value in addition to the compensation and expense allowance provided by law, for any service rendered or to be rendered in her or his capacity as a department employee.

(2)  This section shall not be deemed to prohibit an insurer from making, in the regular course of business, a loan to any employee of the department, if such loan is adequately secured by a mortgage upon real estate or other collateral and qualifies as an eligible investment of the insurer under part II of chapter 625.

(3)  When there is no conflict of interest, the department may employ or retain from time to time an insurance actuary, accountant, or other professional person who is independently practicing her or his profession even though such person is similarly employed or retained by insurers or others.

History.--s. 20, ch. 59-205; ss. 13, 35, ch. 69-106; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 2, 3, ch. 81-318; ss. 18, 37, 809(1st), ch. 82-243; ss. 187, 188, ch. 91-108; s. 4, ch. 91-429; s. 177, ch. 97-102.

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