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Florida Statute 625.53 - Full Text and Legal Analysis Florida Statute 625.53 | Lawyer Caselaw & Research
Fla. Stat. § 625.53 (2026) Copy Cite Official Site Syfertize CourtListener Amendments
625.53 Depository.—
(1) Except as provided in s. 625.55, all deposits made in this state under this code shall be made with the department. The department shall take, receipt for, and hold in trust deposits made under this code for the purpose or purposes for which the respective deposits were so made, subject to the provisions of this part.
(2) The department shall hold all such deposits in safekeeping in the vaults located in the offices of the department.
(3) Securities or other assets deposited with or through the department under this part by a foreign or alien insurer shall not, on account of such securities or assets thus being in this state, be subject to taxation.
(4) The state shall be responsible for the safekeeping of all securities or other assets deposited with the department under this code.
History.—s. 169, 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. 126, 134, 809(1st), ch. 82-243; ss. 187, 188, ch. 91-108; s. 4, ch. 91-429; s. 893, ch. 2003-261.

Cases Citing F.S. 625.53

Fla. Stat. § 625.53 (2026) Copy Cite Official Site Syfertize CourtListener Amendments
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Missouri Div. of Ins. v. State ex rel. Dep't of Ins., 374 So. 2d 589 (Fla. Dist. Ct. App. 1979).

Published | District Court of Appeal of Florida | 1979 Fla. App. LEXIS 15415

...Missouri General’s $90,000 deposit, with accrued interest is subject to Section 624.411(2), Florida Statutes (1977), providing: Such deposits shall be for the protection of the insurer’s policyholders or its policyholders and creditors And it is subject to Section 625.53, providing: The Department shall take, receipt for and hold in trust deposits made under this code for the purpose or purposes for which the respective deposits were made.

This Florida statute resource is curated by Graham W. Syfert, a Jacksonville, Florida personal injury and workers' compensation attorney (Florida Bar No. 39104). For legal consultation, call 904-383-7448.