Florida Statute 624.606 | Lawyer Caselaw & Research

The 2024 Florida Statutes

Title XXXVII
INSURANCE

Chapter 624
INSURANCE CODE: ADMINISTRATION AND GENERAL PROVISIONS

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F.S. 624.606

624.606 “Surety insurance” defined.—

(1) “Surety insurance” includes:

(a) A contract bond, including a bid, payment, or maintenance bond, or a performance bond, which guarantees the execution of a contract other than a contract of indebtedness or other monetary obligation;

(b) An indemnity bond for the benefit of a public body, railroad, or charitable organization or a lost security or utility payment bond;

(c) Becoming surety on, or guaranteeing the performance of, any lawful contract where the bond is guaranteeing the execution of a contract other than a contract of indebtedness or other monetary obligation;

(d) Becoming surety on, or guaranteeing the performance of, bonds and undertakings required or permitted in a judicial proceeding or otherwise allowed by law, including surety bonds accepted by states and municipal authorities in lieu of deposits as security for the performance of insurance contracts;

(e) Fidelity insurance as defined in s. 624.6065 for the purposes of the Florida Insurance Code other than part XX of chapter 627; or

(f) Residual value insurance as defined in s. 624.6081.

(2) “Surety insurance” does not include:

(a) Mortgage guaranty insurance, as defined in s. 635.011;

(b) Financial guaranty insurance, as defined in s. 627.971; or

History.—s. 104, ch. 59-205; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 2, 3, ch. 81-318; ss. 86, 809(1st), ch. 82-243; s. 3, ch. 88-87; ss. 184, 187, 188, ch. 91-108; s. 1, ch. 91-110; s. 4, ch. 91-429; s. 17, ch. 95-211.

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Amendments to 624.606

Arrestable Offenses / Crimes under Fla. Stat. 624.606

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

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 624.606.

Annotations, Discussions, Cases:

Cases Citing Statute 624.606

Total Results: 2

DADELAND DEPOT. v. St. Paul Fire and Marine

Court: Supreme Court of Florida | Date Filed: 2006-12-21

Citation: 945 So. 2d 1216, 31 Fla. L. Weekly Supp. 882, 2006 Fla. LEXIS 2953, 2006 WL 3741019

Snippet: a "contract bond" or "performance bond." See § 624.606(1)(a), Fla. Stat. (1999). On consideration of the

Financial Indem. Co. v. Steele & Sons, Inc.

Court: District Court of Appeal of Florida | Date Filed: 1981-09-16

Citation: 403 So. 2d 600

Snippet: engaged as [an] indemnitor, [or] surety...." Section 624.606(2), Florida Statutes (1979), defines "surety insurance"