Florida Statute 631.061 - Full Text and Legal Analysis

The 2025 Florida Statutes

Title XXXVII
INSURANCE

Chapter 631
INSURER INSOLVENCY; GUARANTY OF PAYMENT

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631.061 Grounds for liquidation.—The department may apply to the court for an order appointing it as receiver (if its appointment as receiver is not then in effect) and directing it to liquidate the business of a domestic insurer or of the United States branch of an alien insurer having trusteed assets in this state, regardless of whether or not there has been a prior order directing it to rehabilitate such insurer, upon any of the grounds specified in s. 631.051, or if such insurer:

(1) Is or is about to become insolvent.

(2) Is an insolvent insurer and has commenced or is attempting to commence voluntary liquidation or dissolution except under this code.

(3) Has not completed its organization and obtained a certificate of authority as an insurer within the time allowed therefor under any applicable law.

History.—s. 722, ch. 59-205; ss. 13, 35, ch. 69-106; s. 4, ch. 70-27; s. 809(1st), ch. 82-243; s. 5, ch. 83-38; ss. 184, 187, 188, ch. 91-108; s. 4, ch. 91-429.

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Amendments to 631.061

Annotations, Discussions, Cases:

Cases Citing Statute 631.061

Total Results: 5 | Sort by: Relevance | Newest First

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Florida Ins. Guar. Ass'n v. Giordano, 485 So. 2d 453 (Fla. 3d DCA 1986).

Cited 16 times | Published | Florida 3rd District Court of Appeal | 11 Fla. L. Weekly 558

plaintiff and the insured were directed by section 631.61(2), Florida Statutes (1979), to seek payment

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Hobbs v. Don Mealey Chevrolet, Inc., 642 So. 2d 1149 (Fla. 5th DCA 1994).

Cited 11 times | Published | Florida 5th District Court of Appeal | 1994 WL 515723

...Florida's Insurers Rehabilitation and Liquidation Act similarly distinguishes rehabilitation proceedings from liquidation proceedings. For example, the Act is divided into separate sections concerning grounds for rehabilitation (section 631.051), grounds for liquidation (section 631.061), rehabilitation orders (section 631.101), and liquidation orders (section 631.111)....

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Guardian Detective & Sec. Agency v. Schreyer, 489 So. 2d 1186 (Fla. Dist. Ct. App. 1986).

Published | District Court of Appeal of Florida | 11 Fla. L. Weekly 1236, 1986 Fla. App. LEXIS 8088

Association (FIGA) became its successor. Pursuant to section 631.61, Florida Statutes (1985), any amount payable

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Florida Off. of Ins. Reg. v. Florida Dep't of Fin. Servs., 159 So. 3d 945 (Fla. 1st DCA 2015).

Published | Florida 1st District Court of Appeal | 2015 Fla. App. LEXIS 3576, 2015 WL 1084929

...lation, who may also be known as the Commissioner of Insurance Regulation.” § 20.121(3)(a)l., Fla. Stat. See also § 631.051, Fla. Stat. (setting forth the grounds upon which DFS may petition for an order directing it to rehabilitate an insurer); § 631.061, Fla....

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Provident Capital Indem., Ltd. v. State ex rel. Dep't of Ins., 654 So. 2d 232 (Fla. Dist. Ct. App. 1995).

Published | District Court of Appeal of Florida | 1995 Fla. App. LEXIS 4358, 1995 WL 293968

ALLEN, Judge. Provident Capital Indemnity, Ltd. (Provident) appeals from an order entered upon authority of sections 631.051 and 631.061, Florida Statutes (1993), by which the Department of Insurance (the department) was appointed as receiver of Provident’s property for purposes of liquidation....

...Dominica, that it is not authorized to transact business anywhere in the United States, and that it has not been alleged to be the holder of trusteed assets in Florida. Provident argues that, in light of these undisputed facts, sections 631.051 and 631.061 provide no authority for entry of the order....

...r not authorized to transact insurance in the United States, that was incorporated, and hence “formed,” under the laws of Dominica, Provident is domiciled in Dominica rather than Florida. Section 631.051 is therefore not applicable to Provident. Section 631.061 permits the department upon specified grounds to “apply to the court for an order appointing it as receiver ......

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