The 2023 Florida Statutes (including Special Session C)

Title XXXVII
INSURANCE

Chapter 625
ACCOUNTING, INVESTMENTS, AND DEPOSITS BY INSURERS

View Entire Chapter

F.S. 625.51

625.51 Purpose of deposit.—Such deposits shall be held for the following purposes:

(1) Deposits made in this state under ss. 624.411 and 624.412 shall be held for the purposes stated in the respective sections.

(2)(a) A deposit made in this state by a domestic insurer transacting insurance in another state, province, or country, and as required by the laws of such state, province, or country, shall be held for the protection of the insurer’s policyholders or policyholders and creditors.

(b) The deposit shall be certified to another state, province, or country upon request of the insurer.

(c) The deposit shall be maintained at the certified par value for any state, province, or country furnishing notification of reliance to the department.

(3) Deposits required pursuant to the retaliatory provision, s. 624.5091, shall be held for such purposes as are required by such law and as specified by the order of the department by which the deposit is required.

History.—s. 167, ch. 59-205; ss. 13, 35, ch. 69-106; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 2, 3, ch. 81-318; ss. 124, 134, 809(1st), ch. 82-243; s. 41, ch. 90-132; ss. 53, 187, 188, ch. 91-108; s. 4, ch. 91-429.

F.S. 625.51 on Google Scholar

F.S. 625.51 on Casetext

Amendments to 625.51

Arrestable Offenses / Crimes under Fla. Stat. 625.51

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

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 625.51.

Annotations, Discussions, Cases:

Cases from cite.case.law:

REESE BROTHERS, INC. v. UNITED STATES POSTAL SERVICE, v. LLC d b a TRG, 905 F. Supp. 2d 223 (D.D.C. 2012)

. . . DMM § 625.51. . . .

In BLANTON, Jr. BLANTON, Jr. v. PRUDENTIAL- BACHE SECURITIES, INC. E., 105 B.R. 321 (Bankr. E.D. Va. 1989)

. . . the purchase of franc options, Blanton’s account was left with a cash surplus in the amount of $862,-625.51 . . .

v., 30 T.C. 84 (T.C. 1958)

. . . to the reserve in prior years, in amounts as follows: 1951_ $87, 685.53 1952_ 113, 677.59 1953_ 93, 625.51 . . .