# Fla. Stat. § 634.042: 634.042 Prohibited investments and loans

> Florida · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXVII_C634_PI_S634.042

## Section

- **Citation:** Fla. Stat. § 634.042
- **Heading:** 634.042 Prohibited investments and loans
- **Jurisdiction:** Florida
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Florida Code / Title XXXVII / Chapter 634 / Part I / Section 634.042

## Text

A motor vehicle service agreement company shall not directly or indirectly invest in or lend its funds upon the security of any note or other evidence of indebtedness of any director, officer, or controlling stockholder of the motor vehicle service agreement company. This prohibition applies only to investments and loans initially reported on motor vehicle service agreement financial statements after the third quarterly statement for 2006.

History: s. 2, ch. 2006-272.

## Nearby sections

- [Fla. Stat. § 634.011 634.011 Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXVII_C634_PI_S634.011.md)
- [Fla. Stat. § 634.021 634.021 Powers of department, commission, and office; rules.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXVII_C634_PI_S634.021.md)
- [Fla. Stat. § 634.023 634.023 Part exclusive; applicability of other laws.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXVII_C634_PI_S634.023.md)
- [Fla. Stat. § 634.031 634.031 License required.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXVII_C634_PI_S634.031.md)
- [Fla. Stat. § 634.041 634.041 Qualifications for license.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXVII_C634_PI_S634.041.md)
- [Fla. Stat. § 634.042 634.042 Prohibited investments and loans.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXVII_C634_PI_S634.042.md)
- [Fla. Stat. § 634.044 634.044 Assets and liabilities.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXVII_C634_PI_S634.044.md)
- [Fla. Stat. § 634.045 634.045 Guarantee agreements.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXVII_C634_PI_S634.045.md)
- [Fla. Stat. § 634.052 634.052 Required deposit.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXVII_C634_PI_S634.052.md)
- [Fla. Stat. § 634.053 634.053 Levy upon deposit limited.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXVII_C634_PI_S634.053.md)
- [Fla. Stat. § 634.061 634.061 Application for and issuance of license.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXVII_C634_PI_S634.061.md)
- [Fla. Stat. § 634.071 634.071 License continuance.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXVII_C634_PI_S634.071.md)
- [Fla. Stat. § 634.081 634.081 Suspension or revocation of license; grounds.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXVII_C634_PI_S634.081.md)
- [Fla. Stat. § 634.095 634.095 Prohibited acts.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXVII_C634_PI_S634.095.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXXVII_C634_PI_S634.042. Check the current official text before relying on it. Not legal advice.