Syfert Injury Law Firm

Your Trusted Partner in Personal Injury & Workers' Compensation

Call Now: 904-383-7448
Florida Statute 631.154 - Full Text and Legal Analysis
Florida Statute 631.154 | Lawyer Caselaw & Research
Link to State of Florida Official Statute
F.S. 631.154 Case Law from Google Scholar Google Search for Amendments to 631.154

The 2025 Florida Statutes

Title XXXVII
INSURANCE
Chapter 631
INSURER INSOLVENCY; GUARANTY OF PAYMENT
View Entire Chapter
F.S. 631.154
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.

F.S. 631.154 on Google Scholar

F.S. 631.154 on CourtListener

Amendments to 631.154


Annotations, Discussions, Cases:

Cases Citing Statute 631.154

Total Results: 8

Gibson v. Resolution Trust Corp.

750 F. Supp. 1565, 13 U.C.C. Rep. Serv. 2d (West) 1298, 1990 U.S. Dist. LEXIS 16891, 1990 WL 177023

District Court, S.D. Florida | Filed: Oct 30, 1990 | Docket: 1041574

Cited 11 times | Published

insurance company's general debts. See Fla.Stat. § 631.154 (Supp.1990); Charles W. Virgin Insurance Agency

Imagine Ins. Co., Ltd. v. State Ex Rel. Dept. of Financial Services

999 So. 2d 693, 2008 WL 5220645

District Court of Appeal of Florida | Filed: Dec 16, 2008 | Docket: 1514704

Cited 8 times | Published

response to a demand by the Receiver, pursuant to section 631.154, Florida Statutes,[*] Imagine asserted, in

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

receiver." It was pursuant to these statutes and section 631.154 that the department sought to obtain possession

Chase Bank of Texas Natl. Ass'n v. State Dept. of Insurance

860 So. 2d 472, 2003 WL 22508377

District Court of Appeal of Florida | Filed: Nov 6, 2003 | Docket: 2147961

Cited 2 times | Published

such as this in a delinquency proceeding. See § 631.154, Fla. Stat. (2001). The fact that the liquidation

State Department of Financial Services v. Branch Banking & Trust Co.

40 So. 3d 829, 2010 Fla. App. LEXIS 10147, 2010 WL 2732606

District Court of Appeal of Florida | Filed: Jul 13, 2010 | Docket: 1667107

Cited 1 times | Published

responses to a demand DFS had served under section 631.154, Florida Statutes (2009). The bank filed a

Florida Department of Insurance v. Various Shareholders

857 So. 2d 972, 2003 Fla. App. LEXIS 16040, 2003 WL 22415346

District Court of Appeal of Florida | Filed: Oct 24, 2003 | Docket: 64826139

Published

for an award of attorney’s fees pursuant to section 631.154(6), Florida Statutes. In accordance with the

Lidsky v. Florida Department of Insurance

643 So. 2d 631, 1994 Fla. App. LEXIS 8785, 1994 WL 496879

District Court of Appeal of Florida | Filed: Sep 14, 1994 | Docket: 64751418

Published

compliance with the procedural requirements of section 631.154, the Department sent a certified letter to

Florida Department of Insurance v. Centex-Great Southwest Corp.

639 So. 2d 646, 1994 Fla. App. LEXIS 6519

District Court of Appeal of Florida | Filed: Jul 5, 1994 | Docket: 64749637

Published

*648out of a demand by the receiver pursuant to section 631.154, Florida Statutes, for return of funds of the