631.111

Order of liquidation; domestic insurers.

Find cases: SyfertCases citing this section FL-LEGleg.state.fl.us JustiaFla. Statutes CornellLII Search CasesGoogle Scholar

631.111 Order of liquidation; domestic insurers.—

(1) An order to liquidate the business of a domestic insurer shall direct the department forthwith to take immediate possession of the property of the insurer, to marshal all the assets of the insurer, to liquidate its business, to deal with the insurer’s property and business in its own name or in the name of the insurer, as the court may direct, and to give notice to all creditors who may have claims against the insurer to present such claims, as the court may direct.

(2) The order of liquidation shall authorize and direct the department to take immediate possession of all the property, assets, and estate, including, but not limited to, all offices maintained by the insurer and all rights of action, books, documents, papers, evidences of debt, and all other property of every kind whatsoever and wheresoever located belonging to the insurer, including, but not limited to, all bank accounts, stocks, bonds, debentures, mortgages, all premiums collected by premium finance companies or any person otherwise engaged in premium financing, agents, subagents, producing agents, brokers, service representatives, or others and not paid to the insurer, furniture, fixtures, equipment, office supplies, and all real property of the insurer and to hold all such assets pending further orders of the court.

(3) The department may apply for and secure an order dissolving the corporate existence of a domestic insurer upon its application for an order of liquidation of such insurer or at any time after such order has been granted.

History.—s. 727, ch. 59-205; ss. 13, 35, ch. 69-106; s. 5, ch. 70-27; s. 1, ch. 70-439; s. 809(1st), ch. 82-243; s. 7, ch. 83-38; ss. 187, 188, ch. 91-108; s. 4, ch. 91-429; s. 92, ch. 2003-1.

Notes of Decisions

Cited in 4 cases, 1991–2001 · leading case: Florida Department of Insurance v. Chase Bank of Texas National Ass'n

Sort: Relevance Newest Treatment

Florida Department of Insurance v. Chase Bank of Texas National Ass'n (2001) ca5 “Fla. Stat. Ann. § 631.111 (1) (1996) (emphasis added).”

Hobbs v. Don Mealey Chevrolet, Inc. (1994) fladistctapp “101), and liquidation orders (section 631.111). Additionally, section 631.”

Sabato v. Florida Department of Insurance (1991) flsd · cites it 2× “See Fla.Stat. § 631.111(1) (1989); Order (DE 5, Exhibits A-B) at para.”

Florida Independent Automobile Dealers Ass'n Health & Welfare Benefit Plan ex rel. Reinecke Agency, Inc. v. Fidelity Sec (1994) fladistctapp “In this order, the court directed the receiver of FIADA to “take immediate possession of all the property, assets and estate and all other property” of FIADA “pursuant to section 631.111 and section 631.141, Florida Statutes, including but not limited to .”

— 631.111(1) — 1 case

Sabato v. Florida Department of Insurance (1991) flsd “See Fla.Stat. § 631.111(1) (1989); Order (DE 5, Exhibits A-B) at para.”

Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.