View source for Doing Business Requirements in Florida

* [[Title Plants in Florida]]
* [[Title Searching in Florida]]
* [[Title Agents in Florida]]

{| class="wikitable"
! style="width: 30%;"|Category
!colspan="2"|Information Summary
|-
| Agency Capitalization Required by State
|colspan="2"|N/A (see Fla. Stat. Ann. 626.8418 re minimum securities deposit or alternate surety bond post)
|-
| Agency Net Worth Required by State|
|colspan="2"|N/A 
|-
| Title Plant Ownership/Access
|colspan="2"|Not Required
|-
| Title Plant Costs Where Ownership/Access Required
|colspan="2"|N/A
|-
| Controlled Business Considerations
|colspan="2"|Not as to Title Insurance|
|-
| Agency Residency
|colspan="2"|Required in some situations. See Retaliatory Issues below
|-
| Registration with Department of State
|colspan="2"|Required; Foreign Entities Allowed
|-
| Individual Residency
|colspan="2"|Required in some situations. See Retaliatory Issues below
|-
| Title Agency Naming Conventions
|colspan="2"|N/A
|-
| E & O
|colspan="2"|$250,000 per claim with an aggregate limit and with a deductible no greater than $10,000
|-
| Fidelity
|colspan="2"|$50,000
|-
| Surety
|colspan="2"|$35,000
|-
| Residency Status||'''Non-Residents'''||'''Residents'''
|-
| Title Agency Licensing||Required||Required
|-
| Title Agency Licensing Fees||$10.00 + $58.25 fingerprint fee per majority owner, partner, officer and/or director||$10.00 + $58.25 fingerprint fee per majority owner, partner, officer and/or director
|-
| Title Agency Appointment by Underwriter||Required||Required
|-
| Individual Title Insurance Producer Licensing||Required||Required
|-
| Individual Title Insurance Producer Licensing Fees||$129.25 ($10 application, $58.25 fingerprint, $56 exam, $5 license card)||$129.25 ($10 application, $58.25 fingerprint, $56 exam, $5 license card)
|-
| Individual Title Insurance Producer Appointment by Underwriter||Required||Required
|-
| Individual Title Insurance Producer Exam prior to Licensing||Required||Required
|-
| Individual Title Producer Fingerprints and/or Background Check ||Required||Required
|-
| Individual Title Producer Continuing Education ("CE")||10 hours with 3 in ethics every two years||10 hours with 3 in ethics every two years
|-
| Agency Renewal Term||Continuous||Continuous
|-
| Agent Renewal Term||Continuous||Continuous
|-
| Reciprocity Exam
|colspan="2"|No
|-
| Reciprocity Continuing Education
|colspan="2"|No
|-
| Retaliatory Issues
|colspan="2"|Residents of the following states do not qualify for a FL license: AL, AK, ID, IA, NV, OR, SD, TX, UT and WA
|-
| Separate Escrow License/Registration
|colspan="2"|Not Required
|-
| Separate Escrow License/Registration for non-Title Agent
|colspan="2"|Not Required
|-
| Escrow Accounts
|colspan="2"|Funds must be held in an FDIC or National Credit Union Share Insurance Fund insured depository institution licensed to transact business in FL   Fla. Stat. 626.8473(3)
|-
| Audit
|colspan="2"|Underwriter must require an annual accounting of outstanding policy forms in Agent's possession.  Fla. Stat. Ann 627.7773(1)  Monthly Three-way reconcilliation required to be submitted to underwriter. Fla. Admin Code 69O-186.009(1)
|-
| Financial Reporting
|colspan="2"|Annual Data Call required beginning 2014 (first report due 2015).   Fla. Stat. 627.782
|-
| Agent  Filings
|colspan="2"|Annual Surcharge of $200 due every January.  Fla. Stat. 624.501(27)(e)
|-
| Underwriter Filed Escrow Rates
|colspan="2"|No
|-
| Attorney Involvement
|colspan="2"|N/A
|-
| Special Considerations
|colspan="2"|
Resident and Non-Resident Florida licensed attorneys in good standing are exempt from the licensing requirements 

Within the 4 years immediately preceding the date of the application for license, the applicant must have completed a 40-hour classroom course in title insurance, 3 hours of which shall be on the subject matter of ethics, as approved by the department, or must have had at least 12 months of experience in responsible title insurance duties, while working in the title insurance business as a substantially full-time, bona fide employee of a title agency, title agent, title insurer, or attorney who conducts real estate closing transactions and issues title insurance policies

At time of application and throughout the existence of the license, the agency must provide the name, social security number, and address of a title agent or an attorney in good standings with the Florida Bar.  The licensed title agent or a licensed attorney must be in full time charge of the agency office   

In addition to the individual agent being fingerprinted, the majority owner, partner, officer and director of the agency must be fingerprinted  
|-
| Regulatory Search Requirements
|colspan="2"|reasonable  Fla. Stat. Ann. 627.7845 (1)
|-
| Retention of Records: Title
|colspan="2"|7 years - Fla. Stat. Ann. 627.7845
|-
| Retention of Records: Escrow
|colspan="2"|5 years for escrow account records [Ad. Rule 69O-186.009(1)]; 3 years for real estate closing escrow records [Ad. Rule 69O-186.009(2)]
|-
| All Inclusive Rate
|colspan="2"|No
|-
| Websites|
|colspan="2"|
|-
| WFG National Title Insurance Company
|colspan="2"|http://www.willistonfinancial.com/
|-
| Department of Insurance
|colspan="2"|http://www.floir.com/
|-
| Department of State
|colspan="2"|http://www.dos.state.fl.us/
|}