(1) No domestic insurer shall engage directly or indirectly in any business other than the insurance business and business activities reasonably and necessarily incidental to such insurance business.
(2) A title insurer may also engage in business as an escrow agent; and any insurer may also engage in the business of making, acquiring, selling, dealing in, and servicing of real estate mortgage loans and loans incidental thereto.
(3) A business trust whose declaration of trust was filed with the Secretary of State of Florida prior to January 1, 1959, and which, at the time of the adoption of this code, held a certificate of authority as a title insurer may qualify as an insurer for lawyers’ professional liability insurance by complying with the applicable provisions of this code.
History.—s. 635, ch. 59-205; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 2, 3, ch. 81-318; ss. 644, 665, 809(1st), ch. 82-243; ss. 187, 188, ch. 91-108; s. 4, ch. 91-429.
Structure Florida Statutes
Chapter 628 - Stock and Mutual Insurers; Holding Companies
Part I - Stock and Mutual Insurers: Organization and Corporate Procedures (Ss. 628.011-628.535)
628.021 - “Stock insurer” defined.
628.031 - “Mutual insurer” defined.
628.041 - Applicability of general corporation statutes.
628.051 - Application for permit to form insurer; contents; fee.
628.061 - Investigation of proposed organization.
628.071 - Granting, denial of permit.
628.081 - Incorporation of domestic insurer.
628.091 - Filing, approval of articles of incorporation.
628.101 - Amendment of certificate of incorporation; stock insurer.
628.111 - Amendment of articles of incorporation; mutual insurer.
628.121 - Capital stock; amount; payment.
628.131 - Limitation on organization and stock sales expenses.
628.151 - Insurance business exclusive.
628.161 - Initial qualifications; mutuals.
628.171 - Formation of mutual insurer; bond.
628.221 - Bylaws of mutual insurer.
628.251 - Management and exclusive agency contracts.
628.261 - Notice of change of director or officer.
628.271 - Office and records; penalty for unlawful removal of records.
628.281 - Exceptions to requirement that office, records, and assets be maintained in this state.
628.291 - Unauthorized transactions in other states.
628.301 - Membership in mutual insurer.
628.341 - Nonassessable policies; mutual insurers.
628.351 - Nonassessable policies; revocation of authority of mutual insurer.
628.361 - Participating policies.
628.371 - Dividends to stockholders.
628.381 - Dividends to mutual policyholders.
628.391 - Illegal dividends; penalty.
628.411 - Impairment of capital or assets.
628.421 - Assessment of stockholders or members.
628.431 - Mutualization of stock insurers.
628.441 - Converting mutual insurer.
628.451 - Merger or share exchange of stock insurers and other entities.
628.461 - Acquisition of controlling stock.
628.471 - Mergers; mutual insurers.
628.481 - Bulk reinsurance; stock insurers.
628.491 - Mergers and consolidations; mutual insurers; agreement of bulk reinsurance.
628.501 - Mutual member’s share of assets on liquidation.
628.511 - Ownership or transfer of securities without physical delivery of certificates.
628.520 - Change of domicile of a foreign insurer.
628.525 - Change of domicile of a domestic insurer.