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Florida Statute 631.241 - Full Text and Legal Analysis
Florida Statute 631.241 | Lawyer Caselaw & Research
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The 2025 Florida Statutes

Title XXXVII
INSURANCE
Chapter 631
INSURER INSOLVENCY; GUARANTY OF PAYMENT
View Entire Chapter
F.S. 631.241
631.241 Borrowing on pledge of assets.For the purpose of facilitating the rehabilitation, liquidation, conservation, or dissolution of an insurer pursuant to this chapter, the department may, subject to the approval of the court, borrow money and execute, acknowledge, and deliver notes or other evidences of indebtedness therefor and secure the repayment of the same by the mortgage, pledge, assignment, transfer in trust, or hypothecation of any or all of the property, whether real, personal, or mixed, of such insurer; and the department, subject to the approval of the court, shall have power to take any and all other action necessary and proper to consummate any such loan and to provide for the repayment thereof. The department shall be under no obligation in its official capacity to repay any loan made pursuant to this section.
History.s. 740, 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.

F.S. 631.241 on Google Scholar

F.S. 631.241 on CourtListener

Amendments to 631.241


Annotations, Discussions, Cases:

Cases Citing Statute 631.241

Total Results: 1

O'MALLEY v. Florida Insurance Guaranty Ass'n

257 So. 2d 9

Supreme Court of Florida | Filed: Dec 16, 1971 | Docket: 1287248

Cited 41 times | Published

paid to said association. Sec. 631.57(e) (d). Section 631.241 F.S. 1969, F.S.A., prior to the enactment of