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.

Rulemaking Authority 624.308, 626.9611 FS. Law Implemented 624.307(1), 626.9551(1) FS. History–New 5-20-64, Repromulgated 12-24-74, Formerly 4-3.14, 4-3.014, 4-124.014.