Florida Statute 624.441 | Lawyer Caselaw & Research

The 2024 Florida Statutes

Title XXXVII
INSURANCE

Chapter 624
INSURANCE CODE: ADMINISTRATION AND GENERAL PROVISIONS

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F.S. 624.441

624.441 Insolvency protection.—

(1) To assure the faithful performance of its obligations to its employer members and covered employees and their dependents, every arrangement shall deposit with the department cash, securities of the type eligible for deposit by insurers under s. 625.52, or any combination of these, in an amount equal to 25 percent of the preceding 12 months’ health care claims expenditures or 5 percent of gross annual premiums for the succeeding year, whichever is greater, which deposit shall be made within 30 days after the close of each fiscal year; however, in no case shall the amount of the deposit exceed $500,000.

(2) All income from deposits shall belong to the depositing arrangement and shall be paid to it as it becomes available. An arrangement that has made a securities deposit may withdraw that deposit, or any part thereof, after making a substitute deposit of cash, securities, or any combination of these or other measures of equal amount and value, upon approval by the office and department. No judgment creditor or other claimant of a multiple-employer welfare association shall have the right to levy upon any of the assets or securities held in this state as a deposit under this section.

(3) Deposits of securities or cash pursuant to this section shall be administered by the office and department in accordance with part III of chapter 625.

History.—s. 6, ch. 85-212; s. 1, ch. 86-286; ss. 30, 187, 188, ch. 91-108; s. 4, ch. 91-429; s. 814, ch. 2003-261; s. 2, ch. 2023-212.

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Amendments to 624.441

Arrestable Offenses / Crimes under Fla. Stat. 624.441

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 624.441.

Annotations, Discussions, Cases:

Cases Citing Statute 624.441

Total Results: 2

In Re Intern. Forum of Fla. Health Ben. Tr.

Court: Fla. Dist. Ct. App. | Date Filed: 1992-09-17T00:53:00-07:00

Citation: 607 So. 2d 432

Snippet: possession of the department. [5] See, e.g., § 624.441(1), Fla. Stat. (1989). [6] See Section 624.4414

Appeal of Actron Contractors Equipment v. South Broward Hospital District

Court: Fla. Dist. Ct. App. | Date Filed: 1992-09-17T00:00:00-07:00

Citation: 607 So. 2d 432, 1992 Fla. App. LEXIS 9999

Snippet: possession of the department. . See, e.g., § 624.441(1), Fla.Stat. (1989). . See Section 624.4414(