Florida Statute 629.261 | Lawyer Caselaw & Research

The 2024 Florida Statutes

Title XXXVII
INSURANCE

Chapter 629
RECIPROCAL INSURERS

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F.S. 629.261

629.261 Nonassessable policies.—Upon the impairment of the surplus of a nonassessable reciprocal insurer, the office shall revoke the authorization issued under s. 629.091(3) or s. 629.291(5). Upon the revocation of the authority to issue nonassessable policies, the reciprocal insurer may no longer issue or renew nonassessable policies or convert assessable policies to nonassessable policies and s. 629.301 applies. Such revocation may not render subject to contingent liability any policy then in force and for the remainder of the period for which the premium has theretofore been paid; but, after such revocation, no policy shall be issued or renewed without providing for contingent assessment liability of the subscriber.

History.—s. 696, 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. 681, 809(1st), ch. 82-243; ss. 79, 187, 188, ch. 91-108; s. 4, ch. 91-429; s. 1325, ch. 2003-261; s. 22, ch. 2024-182.

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Amendments to 629.261

Arrestable Offenses / Crimes under Fla. Stat. 629.261

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

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 629.261.

Annotations, Discussions, Cases:

Cases Citing Statute 629.261

Total Results: 1

Ago

Court: Fla. Att'y Gen. | Date Filed: 1977-10-25T00:53:00-07:00

Snippet: surplus requirements of reciprocal insurers and s. 629.261, F. S., governs additional surplus requirements…under s. 624.408. (Emphasis supplied.) Section 629.261 allows a reciprocal insurer to issue nonassessable