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Florida Statute 635.011 | Lawyer Caselaw & Research
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The 2024 Florida Statutes

Title XXXVII
INSURANCE
Chapter 635
MORTGAGE GUARANTY INSURANCE
View Entire Chapter
F.S. 635.011
635.011 Definitions.—As used in this chapter, the term:
(1) “Mortgage guaranty insurance” means a form of casualty insurance insuring lenders against:
(a) Financial loss by reason of nonpayment of principal, interest, and other sums agreed to be paid under the terms of any note, bond, or other evidence of indebtedness secured by a mortgage, deed of trust, or other instrument constituting a lien or charge on real estate which contains a residential building or a building designed to be occupied for industrial or commercial purposes.
(b) Financial loss by reason of nonpayment of rent and other sums agreed to be paid under the terms of a written lease for the possession, use, or occupancy of real estate, provided such real estate is designed to be occupied for industrial or commercial purposes.
(2) “Contingency reserve” means a special premium reserve which is in addition to other premium reserves required by law and which is established for the protection of policyholders against the effect of adverse economic cycles.
History.—s. 1, ch. 59-182; ss. 13, 35, ch. 69-106; s. 1, ch. 71-151; s. 269, ch. 71-377; s. 2, ch. 81-318; ss. 1, 11, 12, ch. 83-281; ss. 1, 5, ch. 93-21; s. 1517, ch. 2003-261.

F.S. 635.011 on Google Scholar

F.S. 635.011 on Casetext

Amendments to 635.011


Arrestable Offenses / Crimes under Fla. Stat. 635.011
Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 635.011.

Annotations, Discussions, Cases:

Cases Citing Statute 635.011

Total Results: 2

Federal Deposit Insurance Corp. v. Verex Assurance, Inc.

Court: Supreme Court of Florida | Date Filed: 1994-11-17

Citation: 645 So. 2d 427, 19 Fla. L. Weekly Supp. 593, 1994 Fla. LEXIS 1813

Snippet: provisions of chapter 635. As noted by Verex, section 635.011, Florida Statutes (1981), defines mortgage guaranty

Coaster Amusement Co. v. Smith

Court: Supreme Court of Florida | Date Filed: 1940-02-20

Citation: 194 So. 336, 141 Fla. 845, 1940 Fla. LEXIS 873

Snippet: In Castle v. River View Park Co., 292 Ill. App. 635,11 N.E. (1) 135, the headnote reads: "Evidence held