Florida Statutes
Fla. Stat. § 631.399 (2025)
Receiver’s right to recover distributions made to affiliate.
✓ 2025 Florida Statutes — current through the 2025 Regular Session
Find cases:
SyfertCases citing this section
FL-LEGleg.state.fl.us
JustiaFla. Statutes
CornellLII Search
CasesGoogle Scholar
631.399 Receiver’s right to recover distributions made to affiliate.—
(1) If an order for liquidation or rehabilitation of an insurer domiciled in this state has been entered, the receiver appointed under such order has a right to recover on behalf of the insurer, from any affiliate, the amount or value of distributions, other than stock dividends paid by the insurer on its capital stock, made at any time during the 5 years preceding the petition for liquidation or rehabilitation, subject to the limitations of subsections (2), (3), and (4).
(2) The distributions shall be recoverable unless the affiliate shows that the distributions were lawful and reasonable and that the insurer did not know and could not reasonably have known that the distributions might adversely affect the ability of the insurer to fulfill its contractual obligations.
(3) Any affiliate at the time the distributions were made is liable up to the amount or value of distributions it received.
(4) The maximum amount recoverable under this section is the amount needed in excess of all other available assets of the insolvent insurer to pay the contractual obligations of the insolvent insurer.
(5) If any affiliate liable under subsection (3) is insolvent, all of its affiliates are jointly and severally liable for any resulting deficiency in the amount recovered from the insolvent affiliate.
History.—s. 13, ch. 79-189; s. 809(1st), ch. 82-243; s. 29, ch. 83-38; ss. 187, 188, ch. 91-108; s. 4, ch. 91-429.
Note.—Former s. 631.732.
Notes of Decisions
Cited in 3
cases, 1985–2005 · leading case: Florida Dep't of Ins. v. Blackburn (In Re Blackburn), 209 B.R. 4 (Bankr. M.D. Fla. 1997).
Florida Dep't of Ins. v. Blackburn (In Re Blackburn), 209 B.R. 4 (Bankr. M.D. Fla. 1997). “Issues As previously indicated, there are three remaining issues to be resolved in connection with the defendant’s motion for summary judgment: A Can a natural person be an “affiliate” within the meaning of Section 631.399, Florida Statutes? In Count III of the GSL complaint and…”
Capitol Fid. Life Ins. Co. v. STATE EX REL., DEPT. OF INSU., 478 So. 2d 1105 (Fla. 1st DCA 1985). “The show cause order, entered under the authority of the provisions of section 631.399, Florida Statutes, in response to the Department's petition, joined appellants as third party defendants to the proceeding and directed them to show cause why they should not be required to…”
Ocean Bank v. State, Dept. of Fin. Servs., 902 So. 2d 833 (Fla. 1st DCA 2005). “See § 631.399, Fla. Stat. (2004) ("Receiver's right to recover distributions made to affiliate.”
— 631.399(1) — 1 case
Florida Dep't of Ins. v. Blackburn (In Re Blackburn), 209 B.R. 4 (Bankr. M.D. Fla. 1997). “Issues As previously indicated, there are three remaining issues to be resolved in connection with the defendant’s motion for summary judgment: A Can a natural person be an “affiliate” within the meaning of Section 631.399, Florida Statutes? In Count III of the GSL complaint and…”
Annotations are extracted automatically from the opinions in the
Syfert caselaw corpus and ranked by authority, recency, and
treatment. Dots show Syfertize treatment of the citing case itself.