Florida Statute 631.263 | Lawyer Caselaw & Research

The 2024 Florida Statutes

Title XXXVII
INSURANCE

Chapter 631
INSURER INSOLVENCY; GUARANTY OF PAYMENT

View Entire Chapter

F.S. 631.263

631.263 Transfers after petition.—

(1) After the original petition is filed in any delinquency proceeding, a transfer of any of the real property of the insurer made to a person acting in good faith shall be valid against the receiver if made for a present fair equivalent value or, if not made for a present fair equivalent value, then to the extent of the present consideration actually paid therefor, for which amount the transferee shall have a lien on the property so transferred. The recording of a copy of the petition for, or order in, any delinquency proceeding with the clerk of the circuit court in the county where any real property in question is located is constructive notice of the commencement of a delinquency proceeding. The exercise by a court of the United States or any state with jurisdiction to authorize or effect a judicial sale of real property of the insurer within any county in any state shall not be impaired by the pendency of such a proceeding unless the copy is recorded in the county prior to the consummation of the judicial sale.

(2) After the original petition for a delinquency proceeding has been filed and before an order of conservation, rehabilitation, or liquidation is granted:

(a) A transfer of any of the property of the insurer, other than real property, made to a person acting in good faith shall be valid against the receiver if made for a present fair equivalent value or, if not made for a present fair equivalent value, then to the extent of the present consideration actually paid therefor, for which amount the transferee shall have a lien on the property so transferred.

(b) A person indebted to the insurer or holding property of the insurer may, if acting in good faith, pay the indebtedness or deliver the property or any part thereof to the insurer or upon her or his order, with the same effect as if the petition were not pending.

(3) A person having actual knowledge of the pending delinquency proceeding shall be deemed not to act in good faith.

(4) A person asserting the validity of a transfer under this section has the burden of proof. Except as elsewhere provided in this section, any transfer by or in behalf of the insurer after the date of filing of the original petition in any delinquency proceeding requesting the appointment of a receiver, as defined in s. 631.011, by any person other than the receiver is not valid against the receiver.

(5) Nothing in this section shall impair the negotiability of currency or negotiable instruments.

(6) For the purposes of this section, a transfer is not made until the insurer or affiliate has acquired rights in the property transferred.

History.—s. 12, ch. 70-27; s. 809(1st), ch. 82-243; s. 20, ch. 83-38; s. 6, ch. 85-339; s. 2, ch. 87-350; ss. 187, 188, ch. 91-108; s. 4, ch. 91-429; s. 404, ch. 97-102; s. 36, ch. 2004-374.

F.S. 631.263 on Google Scholar

F.S. 631.263 on Casetext

Amendments to 631.263

Arrestable Offenses / Crimes under Fla. Stat. 631.263

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 631.263.

Annotations, Discussions, Cases:

Cases Citing Statute 631.263

Total Results: 3

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

Court: Fla. Dist. Ct. App. | Date Filed: 2010-07-13T00:00:00-07:00

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

Snippet: 631.155, s. 631.191, s. 631.261, s. 631.262, s. 631.263, or s. 631.281, a pleading setting out the right

Lidsky v. Florida Department of Insurance

Court: Fla. Dist. Ct. App. | Date Filed: 1994-09-14T00:00:00-07:00

Citation: 643 So. 2d 631, 1994 Fla. App. LEXIS 8785

Snippet: voidable. See §§ 631.261-631.263. Relevant to the instant proceeding is section 631.263 providing that the …transfer. See § 631.263(4). The precise question before us is whether subsection 631.263(3) establishes…original petition and therefore, pursuant to section 631.263(3), Lidsky was “conclusively deemed not to have…that the trial court’s construction of section 631.263(3), upon which it relied in granting partial summary…creates an irrebutta-ble presumption. While section 631.263(3) creates a presumption in the sense that it establishes

Nova Ins. Group v. Dept. of Ins.

Court: Fla. Dist. Ct. App. | Date Filed: 1992-09-11T00:53:00-07:00

Citation: 606 So. 2d 429

Snippet: 631.155, s. 631.191, s. 631.261, s. 631.262, s. 631.263, or s. 631.281, a pleading setting out the right