69B-124.014, F.A.C.
69B-124.014. Continuous or Prepaid Policies
Cite as Fla. Admin. Code r. 69B-124.014
The requirement of accepting only continuous renewal policies or three-year or more prepayment plans of insurance is not a right or privilege possessed by a lender, nor does it afford the mortgagor the freedom of choice of insurer; therefore, section 626.9551, F.S., is interpreted to prohibit such requirements of acceptance by a lender.