Florida Statutes
Fla. Stat. § 631.154 (2025)
Funds, assets, or other property in the possession of third person.
✓ 2025 Florida Statutes — current through the 2025 Regular Session
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631.154 Funds, assets, or other property in the possession of third person.—
(1) If the receiver determines that funds, assets, or property in the possession of another person are rightfully the property of the estate, the receiver shall deliver to such person a written demand for immediate delivery of the funds, assets, or property to the receiver, referencing this section by number, referencing the court and docket number of the receivership action, and notifying the person that any claim of right to the funds, assets, or property by her or him must be presented to the court within 20 days after the date of the written demand. Any person who holds funds, assets, or other property belonging to an entity placed in receivership under this chapter shall deliver the funds, assets, or other property to the receiver on demand. Should the person allege any right to retain the funds, assets, or other property pursuant to s. 631.155, s. 631.191, s. 631.261, s. 631.262, s. 631.263, or s. 631.281, a pleading setting out the right shall be filed with the court within 20 days after the receipt of the receiver’s demand that the funds, assets, or property be delivered to the receiver. The person shall serve a copy of the pleading on the receiver. The pleading of the person shall inform the court as to the nature of the claim to the property, the alleged value of the assets or property, or the amount of funds held, and what action has been taken by the person to preserve and protect the assets or property or to preserve any funds pending determination of the dispute.
(2) If requested by the receiver, a hearing shall be held to determine where and under what conditions the property, assets, or funds shall be held by the person pending determination of the dispute. The court may impose conditions as it may deem necessary or appropriate for the preservation of the property until the court can determine the validity of the person’s claim to the property, assets, or funds. If any property, assets, or funds are allowed to remain in the possession of the person after demand made by the receiver, that person shall be strictly liable for any waste, loss, or damage of the property, assets, or funds retained.
(3) If a person has filed a pleading alleging any right to retain funds, assets, or property, the court shall hold a subsequent hearing to determine entitlement to the funds, assets, or property claimed by the receiver.
(4) If a person fails to file the pleading required by subsection (1) within the 20-day period, the court may, upon petition of the receiver and upon a copy of the petition being served by the petitioner to such person, issue its summary order directing the immediate delivery of the funds, assets, or property to the receiver and finding that the person has waived all claims of right to the funds, assets, or property.
(5) This section shall apply to all proceedings brought by the receiver to recover funds, assets, or property believed by the receiver under this chapter to be assets of the entity subject to an order of conservation, rehabilitation, or liquidation. The receiver shall be exempt from the provisions of s. 57.111.
(6) Should the receiver be successful in establishing its claim or any part thereof, the receiver shall be entitled to recover judgment for the following:
(a) The property or its cash value as of the date of the order of conservation, rehabilitation, or liquidation, whichever is applicable.
(b) Rental for the use of the property to run from the date of the order of conservation, rehabilitation, or liquidation, whichever is applicable, to the date the property is delivered to the receiver.
(c) In the case of funds, interest at the statutory rate to run from the date of the order of conservation, rehabilitation, or liquidation, whichever is applicable, to the date the funds are delivered to the receiver.
(d) All costs, investigative and other expenses, including, but not limited to, those for department staff, incurred in the recovery of the property, assets, or funds, and reasonable attorney’s fees. Department staff costs and expenses include staff salaries.
It is the intent of this section that a person found to be holding receivership assets fully reimburse the receiver for any and all efforts made to recover those assets.
History.—s. 7, ch. 89-360; s. 1, ch. 90-192; ss. 87, 187, 188, ch. 91-108; s. 4, ch. 91-429; s. 399, ch. 97-102; s. 10, ch. 2002-25.
Notes of Decisions
Cited in 8
cases, 1990–2010 · leading case: Imagine Ins. Co., Ltd. v. State Ex Rel. Dept. of Fin. Servs., 999 So. 2d 693 (Fla. 1st DCA 2008).
Imagine Ins. Co., Ltd. v. State Ex Rel. Dept. of Fin. Servs., 999 So. 2d 693 (Fla. 1st DCA 2008). “In response to a demand by the Receiver, pursuant to section 631.154, Florida Statutes, [*] Imagine asserted, in February 2005, a right to recover and retain its Non-Renewal Charge of 9,000, to be paid from the trust assets.”
State Dep't of Fin. Servs. v. Branch Banking & Trust Co., 40 So. 3d 829 (Fla. 1st DCA 2010). “In both notices of claim, the bank requested that the trial court establish entitlement to the CDs, although the bank also indicated that its notices were offered as responses to a demand DFS had served under section 631.154, Florida Statutes (2009).”
Nova Ins. Grp. v. Dept. of Ins., 606 So. 2d 429 (Fla. 1st DCA 1992). “" It was pursuant to these statutes and section 631.154 that the department sought to obtain possession of the escrow fund held by Intercontinental Bank.”
Gibson v. Resolution Trust Corp., 750 F. Supp. 1565 (S.D. Fla. 1990). “In this case, CenTrust, acting as the insurer, made premium payments to itself. Premiums paid to an insurance company are not held in trust for the benefit of the insured, but are assets of the insurance company available to satisfy the insurance company’s general debts.”
Chase Bank of Texas Natl. Ass'n v. State Dept. of Ins., 860 So. 2d 472 (Fla. 1st DCA 2003). “See § 631.154, Fla. Stat. (2001). The fact that the liquidation proceeding is characterized as equitable does not mean that all of the various claims and defenses asserted within the proceeding must also be equitable.”
Florida Dep't of Ins. v. Centex-Great Sw. Corp., 639 So. 2d 646 (Fla. 1st DCA 1994). “This case arises *648 out of a demand by the receiver pursuant to section 631.154, Florida Statutes, for return of funds of the receivership estate, which funds were being held by GSW.”
Lidsky v. Florida Dep't of Ins., 643 So. 2d 631 (Fla. 1st DCA 1994). “In compliance with the procedural requirements of section 631.154, the Department sent a certified letter to Lidsky demanding the return of the funds.”
Florida Dep't of Ins. v. Various Shareholders, 857 So. 2d 972 (Fla. 1st DCA 2003). “The receiver challenges the portion of the final order by which the trial court denied its motion for an award of attorney’s fees pursuant to section 631.154(6), Florida Statutes. In accordance with the plain language of this provision, once the receiver successfully established…”
— 631.154(1) — 3 cases
Imagine Ins. Co., Ltd. v. State Ex Rel. Dept. of Fin. Servs., 999 So. 2d 693 (Fla. 1st DCA 2008). “In response to a demand by the Receiver, pursuant to section 631.154, Florida Statutes, [*] Imagine asserted, in February 2005, a right to recover and retain its Non-Renewal Charge of 9,000, to be paid from the trust assets.”
Nova Ins. Grp. v. Dept. of Ins., 606 So. 2d 429 (Fla. 1st DCA 1992). “" It was pursuant to these statutes and section 631.154 that the department sought to obtain possession of the escrow fund held by Intercontinental Bank.”
Florida Dep't of Ins. v. Centex-Great Sw. Corp., 639 So. 2d 646 (Fla. 1st DCA 1994). “This case arises *648 out of a demand by the receiver pursuant to section 631.154, Florida Statutes, for return of funds of the receivership estate, which funds were being held by GSW.”
— 631.154(2) — 2 cases
State Dep't of Fin. Servs. v. Branch Banking & Trust Co., 40 So. 3d 829 (Fla. 1st DCA 2010). “In both notices of claim, the bank requested that the trial court establish entitlement to the CDs, although the bank also indicated that its notices were offered as responses to a demand DFS had served under section 631.154, Florida Statutes (2009).”
Florida Dep't of Ins. v. Centex-Great Sw. Corp., 639 So. 2d 646 (Fla. 1st DCA 1994). “This case arises *648 out of a demand by the receiver pursuant to section 631.154, Florida Statutes, for return of funds of the receivership estate, which funds were being held by GSW.”
— 631.154(3) — 1 case
State Dep't of Fin. Servs. v. Branch Banking & Trust Co., 40 So. 3d 829 (Fla. 1st DCA 2010). “In both notices of claim, the bank requested that the trial court establish entitlement to the CDs, although the bank also indicated that its notices were offered as responses to a demand DFS had served under section 631.154, Florida Statutes (2009).”
— 631.154(5) — 1 case
Florida Dep't of Ins. v. Centex-Great Sw. Corp., 639 So. 2d 646 (Fla. 1st DCA 1994). “This case arises *648 out of a demand by the receiver pursuant to section 631.154, Florida Statutes, for return of funds of the receivership estate, which funds were being held by GSW.”
— 631.154(6) — 1 case
Florida Dep't of Ins. v. Various Shareholders, 857 So. 2d 972 (Fla. 1st DCA 2003). “The receiver challenges the portion of the final order by which the trial court denied its motion for an award of attorney’s fees pursuant to section 631.154(6), Florida Statutes. In accordance with the plain language of this provision, once the receiver successfully established…”
— 631.154(6)(d) — 1 case
Florida Dep't of Ins. v. Centex-Great Sw. Corp., 639 So. 2d 646 (Fla. 1st DCA 1994). “This case arises *648 out of a demand by the receiver pursuant to section 631.154, Florida Statutes, for return of funds of the receivership estate, which funds were being held by GSW.”
— 631.154(B) — 1 case
State Dep't of Fin. Servs. v. Branch Banking & Trust Co., 40 So. 3d 829 (Fla. 1st DCA 2010). “In both notices of claim, the bank requested that the trial court establish entitlement to the CDs, although the bank also indicated that its notices were offered as responses to a demand DFS had served under section 631.154, Florida Statutes (2009).”
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