Florida Statutes
Title XXXVII - Insurance
Chapter 628 - Stock and Mutual Insurers; Holding Companies

628.152 - Domestic stock insurers; proxies, consents, and authorizations with respect to any voting security. - (1) The commission may, by rule, prescribe the form, content,...

628.161 - Initial qualifications; mutuals. - (1) When newly organized, a mutual insurer may be authorized...

628.171 - Formation of mutual insurer; bond. - History.—s. 637, ch. 59-205; ss. 13, 35, ch. 69-106; s....

628.221 - Bylaws of mutual insurer. - (1) The initial board of directors of a domestic mutual...

628.231 - Directors. - (1) The affairs of every domestic insurer shall be managed...

628.251 - Management and exclusive agency contracts. - (1) No domestic mutual insurer or stock insurer shall make...

628.255 - Person with effective control cannot receive commission unless contract approved; penalties. - (1) No director, officer, or other person having effective control...

628.261 - Notice of change of director or officer. - History.—s. 646, ch. 59-205; ss. 13, 35, ch. 69-106; s....

628.271 - Office and records; penalty for unlawful removal of records. - (1) Every domestic insurer shall have an office in this...

628.281 - Exceptions to requirement that office, records, and assets be maintained in this state. - (1) The provisions of s. 628.271 shall not be deemed...

628.291 - Unauthorized transactions in other states. - (1) No domestic insurer shall enter into a contract of...

628.301 - Membership in mutual insurer. - (1) Each policyholder of a domestic mutual insurer, other than...

628.341 - Nonassessable policies; mutual insurers. - (1) While possessing surplus funds in amount not less than...

628.351 - Nonassessable policies; revocation of authority of mutual insurer. - History.—s. 655, ch. 59-205; ss. 13, 35, ch. 69-106; s....

628.361 - Participating policies. - (1) If provided in its certificate of incorporation, a domestic...

628.371 - Dividends to stockholders. - (1) A domestic stock insurer shall not pay any dividend...

628.381 - Dividends to mutual policyholders. - (1) The directors of a domestic mutual insurer may from...

628.391 - Illegal dividends; penalty. - (1) Any director of a domestic stock or mutual insurer...

628.401 - Borrowed surplus. - (1) A domestic stock or mutual insurer may borrow money...

628.411 - Impairment of capital or assets. - (1) If a domestic stock insurer’s capital, as represented by...

628.421 - Assessment of stockholders or members. - (1) Any insurer receiving the notice of the office mentioned...

628.431 - Mutualization of stock insurers. - (1) A stock insurer other than a title insurer may...

628.441 - Converting mutual insurer. - (1) A mutual insurer may become a stock insurer under...

628.451 - Merger or share exchange of stock insurers and other entities. - (1) Notwithstanding general limitations on the ability of corporations to...

628.461 - Acquisition of controlling stock. - (1) A person may not, individually or in conjunction with...

628.4615 - Specialty insurers; acquisition of controlling stock, ownership interest, assets, or control; merger or consolidation. - (1) For the purposes of this section, the term “specialty...

628.471 - Mergers; mutual insurers. - (1) A domestic mutual insurer shall not merge with a...

628.481 - Bulk reinsurance; stock insurers. - (1) A domestic stock insurer may reinsure all or substantially...

628.491 - Mergers and consolidations; mutual insurers; agreement of bulk reinsurance. - (1) A domestic mutual insurer may reinsure all or substantially...

628.501 - Mutual member’s share of assets on liquidation. - (1) Upon any liquidation of a domestic mutual insurer, its...

628.511 - Ownership or transfer of securities without physical delivery of certificates. - (1) The purpose of this section is to authorize domestic...

628.520 - Change of domicile of a foreign insurer. - History.—s. 7, ch. 85-214; s. 1, ch. 86-286; ss. 75,...

628.525 - Change of domicile of a domestic insurer. - History.—s. 7, ch. 85-214; s. 1, ch. 86-286; ss. 187,...

628.530 - Effects of redomestication. - History.—s. 7, ch. 85-214; s. 1, ch. 86-286; s. 180,...

628.535 - Authority to adopt rules. - History.—s. 7, ch. 85-214; s. 1, ch. 86-286; ss. 187,...

Part II - Assessable Mutual Insurers (Ss. 628.6011-628.6018)

628.6011 - Assessable mutual insurers. - (1) An “assessable mutual insurer” is an insurer incorporated in...

628.6012 - Premiums written; restrictions. - History.—ss. 76, 188, ch. 91-108; s. 4, ch. 91-429; s....

628.6013 - Converted self-insurance fund; trade association; board of directors. - (1) Any self-insurance fund regulated under the insurance code other...

628.6014 - Annual reports. - (1) An assessable mutual shall file a financial statement within...

628.6015 - Tax on premiums, contributions, and assessments of assessable mutual insurers. - History.—ss. 76, 188, ch. 91-108; s. 4, ch. 91-429.

628.6016 - Applicability of related laws. - (1) Sections 624.155, 624.308, 624.414, 624.415, and 624.416(4); ss. 624.418-624.4211,...

628.6017 - Converting assessable mutual insurer. - (1) An assessable mutual insurer may become a stock insurer...

628.6018 - Assessments. - (1) Any assessment made by an insurer under this part...

Part III - Mutual Insurance Holding Companies (Ss. 628.701-628.733)

628.701 - Scope. - History.—s. 1, ch. 97-216.

628.703 - Definitions. - (1) “Intermediate holding company” means: (a) A holding company that...

628.705 - Prohibition of stock transfers. - (1) The voting shares of the capital stock of a...

628.707 - Applicability of general corporation statutes. - (1) A mutual insurance holding company shall be organized exclusively...

628.709 - Formation of a mutual insurance holding company. - (1) A domestic mutual insurance company, other than a mutual...

628.711 - Plan of reorganization. - (1) A plan of reorganization shall include the following provisions:...

628.713 - Dividends. - History.—s. 1, ch. 97-216; s. 1300, ch. 2003-261.

628.715 - Merger and acquisitions. - (1)(a) Merge or consolidate with, or acquire the assets of,...

628.717 - Filing of articles of incorporation. - (1) No mutual insurance holding company shall be formed unless...

628.719 - Amendment of articles of incorporation. - (1) A domestic mutual insurance holding company may amend its...

628.721 - Bylaws. - (1) The initial board of directors of a mutual insurance...

628.723 - Directors. - (1) The affairs of every mutual insurance holding company shall...

628.725 - Notice of change of director or officer. - History.—s. 1, ch. 97-216; s. 1305, ch. 2003-261.

628.727 - Membership. - (1) Membership in a mutual insurance holding company shall be...

628.729 - Member’s share of assets on voluntary dissolution. - (1) Upon any voluntary dissolution of a domestic mutual insurance...

628.730 - Merger with intermediate holding company. - (1) A mutual insurance holding company may, pursuant to a...

628.731 - Application of holding company statutes and regulations. - History.—s. 1, ch. 97-216.

628.733 - Converting mutual insurance holding company. - (1) A mutual insurance holding company may become a stock...

Part IV - Insurance Holding Companies (Ss. 628.801-628.805)

628.801 - Insurance holding companies; registration; regulation. - (1) An insurer that is authorized to do business in...

628.8015 - Own-risk and solvency assessment; corporate governance annual disclosure. - (1) DEFINITIONS.—As used in this section, the term: (a) “Corporate...

628.802 - Injunction. - (1) Whenever it appears to the office that any insurer...

628.803 - Sanctions. - (1) Any company failing, without just cause, to file any...

628.804 - Groupwide supervision for international insurance groups. - (1) As used in this section: (a) “Groupwide supervisor” means...

628.805 - Supervisory colleges. - (1) With respect to participation in a supervisory college, the...

Part V - Captive Insurers (Ss. 628.901-628.920)

628.901 - Definitions. - (1) “Affiliated company” means a company in the same corporate...

628.905 - Licensing; authority. - (1) A captive insurance company, if permitted by its charter...

628.906 - Application requirements; restrictions on eligibility of officers and directors. - (1) To evidence competence and trustworthiness of its officers and...

628.907 - Minimum capital and net assets requirements; restriction on payment of dividends. - (1) A captive insurance company may not be issued a...

628.908 - Surplus requirements; restriction on payment of dividends. - (1) The office may not issue a license to a...

628.909 - Applicability of other laws. - (1) The Florida Insurance Code does not apply to captive...

628.910 - Incorporation options and requirements. - (1) A pure captive insurance company may be: (a) Incorporated...

628.911 - Reports and statements. - (1) A captive insurance company may not be required to...

628.912 - Discounting of loss and loss adjustment expense reserves. - (1) A captive reinsurance company may discount its loss and...

628.913 - Captive reinsurance companies. - (1) A captive reinsurance company, if permitted by its articles...

628.914 - Minimum capitalization or reserves for captive reinsurance companies. - (1) The office may not issue a license to a...

628.9141 - Incorporation of a captive reinsurance company. - (1) A captive reinsurance company must be incorporated as a...

628.9142 - Reinsurance; effect on reserves. - (1) A captive insurance company may provide reinsurance, as authorized...

628.915 - Exemption from compulsory association. - (1) No captive insurance company shall be permitted to join...

628.917 - Insolvency and liquidation. - History.—ss. 664, 809(1st), ch. 82-243; ss. 9, 11, ch. 87-127;...

628.918 - Management of assets of captive reinsurance company. - History.—s. 32, ch. 2012-151.

628.919 - Standards to ensure risk management control by parent company. - History.—s. 33, ch. 2012-151; s. 8, ch. 2013-209.

628.920 - Eligibility of licensed captive insurance company for certificate of authority to act as insurer. - History.—s. 34, ch. 2012-151.

<< Previous

Next >>

Florida Statutes Title XXXVII - Insurance Chapter 628 - Stock and Mutual Insurers; Holding Companies

Florida Statutes
Title XXXVII - Insurance
Chapter 628 - Stock and Mutual Insurers; Holding Companies