Florida Statute 635.011 | Lawyer Caselaw & Research

The 2024 Florida Statutes

Title XXXVII
INSURANCE

Chapter 635
MORTGAGE GUARANTY INSURANCE

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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.

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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: 5

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

Court: Fla. | Date Filed: 1994-11-17T00:00:00-08:00

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…form of casualty and surety insurance in section 635.011, Fla.Stat. (1991), and. avers that the scope of…surety insurers.” House Analysis at p. 2. Because § 635.011 defines mortgage guaranty insurance as a form of

City of Miami v. Katz

Court: Fla. Dist. Ct. App. | Date Filed: 1986-12-09T00:00:00-08:00

Citation: 498 So. 2d 635, 11 Fla. L. Weekly 2578, 1986 Fla. App. LEXIS 11264

Snippet: , Nesbitt, Schwartz 9 December 1986 498 So. 2d 635, 11 Fla. L. Weekly 2578, 1986 Fla. App. LEXIS 11264

Donovan v. State

Court: Fla. Dist. Ct. App. | Date Filed: 1986-05-14T00:00:00-07:00

Citation: 488 So. 2d 635, 11 Fla. L. Weekly 1129, 1986 Fla. App. LEXIS 7836

Snippet: Anstead, Downey, Gunther 14 May 1986 488 So. 2d 635, 11 Fla. L. Weekly 1129, 1986 Fla. App. LEXIS 7836

Ridenour v. State

Court: Fla. Dist. Ct. App. | Date Filed: 1986-04-01T00:00:00-08:00

Citation: 486 So. 2d 635, 11 Fla. L. Weekly 763, 1986 Fla. App. LEXIS 7082

Snippet: Barkdull, Hubbart, Pearson 1 April 1986 486 So. 2d 635, 11 Fla. L. Weekly 763, 1986 Fla. App. LEXIS 7082

Coaster Amusement Co. v. Smith

Court: Fla. | Date Filed: 1940-02-20T00:00:00-08:00

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