Florida Statute 629.071 - Full Text and Legal Analysis

The 2025 Florida Statutes

Title XXXVII
INSURANCE

Chapter 629
RECIPROCAL INSURERS

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F.S. 629.071

629.071 Surplus funds required.—

(1) A domestic reciprocal insurer hereunder formed, if it has otherwise complied with the applicable provisions of this code, may be authorized to transact insurance if it has and thereafter maintains surplus funds of not less than $250,000.

(2) In addition to the surplus required to be maintained under subsection (1), the insurer shall have, when first so authorized, an expendable surplus of not less than $750,000.

History.—s. 677, ch. 59-205; s. 3, ch. 76-168; s. 1, ch. 77-457; s. 116, ch. 79-40; ss. 2, 3, ch. 81-318; ss. 670, 681, 809(1st), ch. 82-243; ss. 187, 188, ch. 91-108; s. 4, ch. 91-429.

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Amendments to 629.071

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Cases Citing Statute 629.071

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Ago

Florida Attorney General Reports | Filed: Oct 25, 1977 | Docket: 3258397

Published

interpretation of the insurance laws of Florida. Section 629.071(1) and (2), F. S., governs the general surplus