Florida Administrative Code
69 - DEPARTMENT OF FINANCIAL SERVICES
69O - OIR - Insurance Regulation
Chapter 69O-193 - CONTINUING CARE CONTRACTS
Section 69O-193.023 - Escrow Agreements and Amendments
Universal Citation: FL Admin Code R 69O-193.023
Current through Reg. 50, No. 187; September 24, 2024
(1) Each escrow agreement or amendment required by Chapter 651, F.S., shall be filed and approved by the Office prior to its use in this state.
(2) Each escrow agreement or amendment must be signed by:
(a) The provider;
(b) The escrow agent, which must be a
financial institution or trust acceptable to the Office.
(3) Each escrow agreement, in addition to all other requirements of law, must contain:
(a)
The escrow account number, which may be added to the agreement after the form
of the agreement has been approved by the Office;
(b) A physical location in Florida where the
funds may be accessed; and
(c) A
statement citing the specific provision of Chapter 651, F.S., for which the
escrow agreement is drawn and for which the escrow account is
established.
Rulemaking Authority 651.015(3) FS. Law Implemented 651.022, 651.023, 651.033 FS.
New 7-16-92, Formerly 4-193.023, Amended 9-15-05, Amended 3-12-20.
Disclaimer: These regulations may not be the most recent version. Florida may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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