631.061

Grounds for liquidation.

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631.061 Grounds for liquidation.—The department may apply to the court for an order appointing it as receiver (if its appointment as receiver is not then in effect) and directing it to liquidate the business of a domestic insurer or of the United States branch of an alien insurer having trusteed assets in this state, regardless of whether or not there has been a prior order directing it to rehabilitate such insurer, upon any of the grounds specified in s. 631.051, or if such insurer:

(1) Is or is about to become insolvent.

(2) Is an insolvent insurer and has commenced or is attempting to commence voluntary liquidation or dissolution except under this code.

(3) Has not completed its organization and obtained a certificate of authority as an insurer within the time allowed therefor under any applicable law.

History.—s. 722, ch. 59-205; ss. 13, 35, ch. 69-106; s. 4, ch. 70-27; s. 809(1st), ch. 82-243; s. 5, ch. 83-38; ss. 184, 187, 188, ch. 91-108; s. 4, ch. 91-429.

Notes of Decisions

Cited in 3 cases, 1994–2015 · leading case: Hobbs v. Don Mealey Chevrolet, Inc.

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Hobbs v. Don Mealey Chevrolet, Inc. (1994) fladistctapp “051), grounds for liquidation (section 631.061), rehabilitation orders (section 631.”

Florida Office of Insurance Regulation v. Florida Department of Financial Services (2015) fladistctapp · cites it 2× “(setting forth the grounds upon which DFS may petition for an order directing it to rehabilitate an insurer); § 631.061, Fla. Stat. (authorizing DFS to apply to the court to be appointed as receiver and directing it to liquidate an insurer).”

Provident Capital Indemnity, Ltd. v. State ex rel. Department of Insurance (1995) fladistctapp “Section 631.061 permits the department upon specified grounds to “apply to the court for an order appointing it as receiver .”

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