Florida Statute 625.55 | Lawyer Caselaw & Research

The 2024 Florida Statutes

Title XXXVII
INSURANCE

Chapter 625
ACCOUNTING, INVESTMENTS, AND DEPOSITS BY INSURERS

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F.S. 625.55

625.55 Custodial arrangements.—

(1) In lieu of a deposit being made with it in fact, the department in its discretion may permit or require that the deposit be made with and held by the trust department of a national bank organized and existing under the laws of the United States Government or a state bank or savings and loan organized and existing under the laws of this state, provided that the national or state bank or the savings and loan is approved by the department for this purpose and under custodial arrangements likewise approved by the department, which arrangements may include the use of the Federal Reserve book-entry system or depository trust clearing systems established to hold and transfer securities by computerized book-entry systems.

(2) All such custodial arrangements shall comply in substance with the requirements of this code as to like deposits with the department of other insurers; as to the amount, purposes, maintenance, replenishment, release, and withdrawal of such deposits or part thereof; as to the rights of the insurer therein; and in all other respects except as to actual custody.

(3) The form and terms of all such custodial agreements shall be as prescribed or approved by the department consistent with the applicable provisions of this code.

(4) The compensation and expenses of any such custodian shall be borne by the insurer.

(5) The department or office may at any time, in its discretion, terminate any such custodial arrangement and require the deposit represented thereby to be made with it directly as otherwise provided for under this code.

History.—s. 171, 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. 128, 134, 809(1st), ch. 82-243; s. 13, ch. 85-245; ss. 187, 188, ch. 91-108; s. 4, ch. 91-429; s. 894, ch. 2003-261.

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Amendments to 625.55

Arrestable Offenses / Crimes under Fla. Stat. 625.55

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

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 625.55.

Annotations, Discussions, Cases:

Cases Citing Statute 625.55

Total Results: 8

Connell v. National Accident and Health Ins. Co.

Court: Supreme Court of Florida | Date Filed: 1949-09-30

Citation: 42 So. 2d 176, 1949 Fla. LEXIS 987

Snippet: the authority of Hull et al. v. Burr, 61 Fla. 625, 55 So. 852. Writ of certiorari granted and order affirmed

Haimovitz v. Hawk

Court: Supreme Court of Florida | Date Filed: 1920-07-12

Citation: 80 Fla. 272, 85 So. 668

Snippet: practice here as elsewhere. Hull v. Burr, 61 Fla. 625, 55 South. Rep. 852, 6 Ency. Pl. & Pr. 429. But the

Opitz v. Morgan

Court: Supreme Court of Florida | Date Filed: 1914-12-09

Citation: 68 Fla. 469, 67 So. 67

Snippet: known to our practice. See Hull v. Burr, 61 Fla. 625, 55 South. Rep. 852. Under the Constitution of 1868

State ex rel. Burr v. Whitney

Court: Supreme Court of Florida | Date Filed: 1913-06-25

Citation: 66 Fla. 24, 63 So. 299

Snippet: 432, 50 South. Rep. 754; Hull at Burr, 61 Fla. 625, 55 South. Rep. 852; Hull v. Burr, 62 Fla. 499, 56

Burr v. Hull

Court: Supreme Court of Florida | Date Filed: 1913-06-25

Citation: 66 Fla. 20, 63 So. 300

Snippet: Burr, 58 Fla. 432, 50 South. Rep. 754; 61 Fla. 625, 55 South. Rep. 852; 62 Fla. 499, 56 South. Rep. 673;

Porter v. Taylor

Court: Supreme Court of Florida | Date Filed: 1912-06-15

Citation: 64 Fla. 100

Snippet: not proper practice. See Hull v. Burr, 61 Fla. 625, 55 South. Rep. 852. A bill in equity should not be

Hull v. Burr

Court: Supreme Court of Florida | Date Filed: 1912-06-15

Citation: 64 Fla. 83

Snippet: See 58 Fla. 432, 50 South. Rep. 754; 61 Fla. 625, 55 South. Rep. 852; 62 Fla. 499, 56 South. Rep. 673;

Hull v. Burr

Court: Supreme Court of Florida | Date Filed: 1911-06-15

Citation: 62 Fla. 499

Snippet: denied with leave to answer. Hull v. Burr, 61 Fla. 625, 55 South. Rep. 852. On April 4th, 1911, the defendants