Florida Statute 631.131 - Full Text and Legal Analysis

The 2025 Florida Statutes

Title XXXVII
INSURANCE

Chapter 631
INSURER INSOLVENCY; GUARANTY OF PAYMENT

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F.S. 631.131

631.131 Order of conservation or ancillary liquidation of foreign or alien insurers.—

(1) An order to conserve the assets of a foreign or alien insurer shall require the department forthwith to take possession of the property of the insurer within this state and to conserve it, subject to the further direction of the court.

(2) An order to liquidate the assets in this state of a foreign insurer shall require the department forthwith to take possession of the property of the insurer within this state, to take all steps necessary to prevent wasting of the assets, to marshal all assets in accordance with s. 631.111(2), insofar as that subsection does not conflict with the rights of the domiciliary receiver, and to liquidate it subject to the orders of the court and with due regard to the rights and powers of the domiciliary receiver as provided in this chapter.

History.—s. 729, ch. 59-205; ss. 13, 35, ch. 69-106; s. 6, ch. 70-27; s. 1, ch. 70-439; s. 809(1st), ch. 82-243; ss. 187, 188, ch. 91-108; s. 4, ch. 91-429.

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Amendments to 631.131

Annotations, Discussions, Cases:

Cases Citing Statute 631.131

Total Results: 2

Nova Ins. Group v. Dept. of Ins.

606 So. 2d 429, 1992 Fla. App. LEXIS 9768, 1992 WL 221534

District Court of Appeal of Florida | Filed: Sep 11, 1992 | Docket: 135999

Cited 6 times | Published

of Ins., 400 So.2d 813 (Fla. 1st DCA 1981). Section 631.131(2) provides that an order to liquidate the

FLORIDA INS. GUARANTY ASSOC., INC. v. State Ex Rel. Department of Insurance

400 So. 2d 813

District Court of Appeal of Florida | Filed: Jun 30, 1981 | Docket: 1677030

Cited 5 times | Published

ancillary receiver in Florida would have. Further, Section 631.131(2) recognizes the paramount authority and control