Online Sunshine Logo
Official Internet Site of the Florida Legislature
October 4, 2024
Text: 'NEW Advanced Legislative Search'
Interpreter Services for the Deaf and Hard of Hearing
Go to MyFlorida House
Go to MyFlorida House
Select Year:  
The Florida Statutes

The 2024 Florida Statutes

Title XXXVII
INSURANCE
Chapter 628
STOCK AND MUTUAL INSURERS; HOLDING COMPANIES
View Entire Chapter
F.S. 628.341
628.341 Nonassessable policies; mutual insurers.
(1) While possessing surplus funds in amount not less than the paid-in capital stock required of a domestic stock insurer transacting like kinds of insurance, a domestic mutual insurer may, upon receipt of the order of the office so authorizing, extinguish the contingent liability of its members as to all its policies in force and may omit provisions imposing contingent liability in all its policies currently issued so long as such surplus funds meet such requirement as to amount.
(2) A foreign or alien mutual insurer may issue nonassessable policies to its members in this state pursuant to its articles of incorporation and the laws of its domicile.
History.s. 654, ch. 59-205; ss. 13, 35, ch. 69-106; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 2, 3, ch. 81-318; ss. 665, 809(1st), ch. 82-243; ss. 187, 188, ch. 91-108; s. 4, ch. 91-429; s. 1273, ch. 2003-261.