631.101
Order of rehabilitation; termination.
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631.101 Order of rehabilitation; termination.—
(1) An order to rehabilitate a domestic insurer shall direct the department forthwith to take possession of the property of the insurer and to conduct the business thereof, and to take such steps toward removal of the causes and conditions which have made rehabilitation necessary as the court may direct.
(2) If at any time the department deems that further efforts to rehabilitate the insurer would be useless, it may apply to the court for an order of liquidation.
(3) The department, or any interested person upon due notice to the department, at any time may apply to the court for an order terminating the rehabilitation proceedings and permitting the insurer to resume possession of its property and the conduct of its business, but no such order shall be made or entered except when, after a hearing, the court has determined that the purposes of the proceeding have been fully accomplished.
History.—s. 726, ch. 59-205; ss. 13, 35, ch. 69-106; s. 809(1st), ch. 82-243; ss. 187, 188, ch. 91-108; s. 4, ch. 91-429.
Notes of Decisions
Cited in 2
cases, 1988–1994 · leading case: Hobbs v. Don Mealey Chevrolet, Inc.
Hobbs v. Don Mealey Chevrolet, Inc. (1994)
“061), rehabilitation orders (section 631.101), and liquidation orders (section 631.”
In re the Receivership of Southland Insurance Co. (1988)
“The order appointing the Department the receiver of appellant was entered pursuant to Section 631.101(1), Florida Statutes (1987), requiring it, in conducting the business of the insurer, "to take such steps toward removal of the causes and conditions which have made…”
— 631.101(1) — 1 case
In re the Receivership of Southland Insurance Co. (1988)
“The order appointing the Department the receiver of appellant was entered pursuant to Section 631.101(1), Florida Statutes (1987), requiring it, in conducting the business of the insurer, "to take such steps toward removal of the causes and conditions which have made…”
— 631.101(2) — 1 case
In re the Receivership of Southland Insurance Co. (1988)
“The order appointing the Department the receiver of appellant was entered pursuant to Section 631.101(1), Florida Statutes (1987), requiring it, in conducting the business of the insurer, "to take such steps toward removal of the causes and conditions which have made…”
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