Florida Statute 631.152 - Full Text and Legal Analysis

The 2025 Florida Statutes

Title XXXVII
INSURANCE

Chapter 631
INSURER INSOLVENCY; GUARANTY OF PAYMENT

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631.152 Conduct of delinquency proceeding; foreign insurers.—

(1) Whenever under this chapter an ancillary receiver is to be appointed in a delinquency proceeding for an insurer not domiciled in this state, the court shall appoint the department as ancillary receiver. The department shall file a petition requesting the appointment on the grounds set forth in s. 631.091:

(a) If it finds that there are sufficient assets of the insurer located in this state to justify the appointment of an ancillary receiver;

(b) If 10 or more persons resident in this state having claims against such insurer file a petition with the department or office requesting the appointment of such ancillary receiver; or

(2) The domiciliary receiver for the purpose of liquidating an insurer domiciled in a reciprocal state shall be vested by operation of law with the title to all of the property (except statutory deposits, special statutory deposits, and property located in this state subject to a security interest), contracts, and rights of action, and all of the books and records of the insurer located in this state, and it shall have the immediate right to recover balances due from local agents and to obtain possession of any books and records of the insurer found in this state. It shall also be entitled to recover the property subject to a security interest, statutory deposits, and special statutory deposits of the insurer located in this state, except that upon the appointment of an ancillary receiver in this state, the ancillary receiver shall during the ancillary receivership proceeding have the sole right to recover such other assets. The ancillary receiver shall, as soon as practicable, liquidate from their respective securities those special deposit claims and secured claims which are proved and allowed in the ancillary proceeding in this state, and shall pay the necessary expenses of the proceeding. It shall promptly transfer all remaining assets to the domiciliary receiver. Subject to the foregoing provisions, the ancillary receiver and its agents shall have the same powers and be subject to the same duties with respect to the administration of such assets as a receiver of an insurer domiciled in this state.

(3) The domiciliary receiver of an insurer domiciled in a reciprocal state may sue in this state to recover any assets of such insurer to which it may be entitled under the laws of this state.

(4) Section 631.141(10)(b) applies to ancillary delinquency proceedings opened for the purpose of obtaining records necessary to adjudicate the covered claims of Florida policyholders.

History.—s. 731, ch. 59-205; ss. 13, 35, ch. 69-106; s. 809(1st), ch. 82-243; ss. 86, 187, 188, ch. 91-108; s. 4, ch. 91-429; s. 1346, ch. 2003-261; s. 5, ch. 2011-226; s. 79, ch. 2016-10; s. 6, ch. 2017-143; s. 73, ch. 2023-144.

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Amendments to 631.152

Annotations, Discussions, Cases:

Cases Citing Statute 631.152

Total Results: 3 | Sort by: Relevance | Newest First

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Nova Ins. Grp. v. Dept. of Ins., 606 So. 2d 429 (Fla. 1st DCA 1992).

Cited 6 times | Published | Florida 1st District Court of Appeal | 1992 Fla. App. LEXIS 9768, 1992 WL 221534

...artment was entitled to seek appointment as Central's ancillary receiver for purposes of liquidation. § 631.091, Fla. Stat. The authority of the ancillary receiver when liquidating an insurer domiciled in a reciprocal state is described in sections 631.152 and 631.131....

...contracts, rights of action and books and records located in Florida and provides that where, as here, an ancillary receiver is appointed, the ancillary receiver has the sole right to recover "the other assets of the insurer located in this state." § 631.152(2), Fla....

...Based upon that language, we simply cannot ascribe to the legislature an intent to change the focus of the entire section which is, undoubtedly, upon property belonging to the insurer but in the possession of another. Our interpretation of section 631.154 is buttressed by numerous sections of the act which, like sections 631.152 and 631.131 discussed above, restrict the receiver's activities to recovering property of the insurer....

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FLORIDA INS. Guar. ASSOC., INC. v. State Ex Rel. Dep't of Ins., 400 So. 2d 813 (Fla. 1st DCA 1981).

Cited 5 times | Published | Florida 1st District Court of Appeal

...of the foreign insolvent insurers' assets, Section 631.071, unless there has first been an order for liquidation in the domiciliary state, in which event liquidation of the foreign insurers' Florida assets may be ordered pursuant to Section 631.091. Section 631.152, subsection (1), pertaining to ancillary receivership of foreign insurers, contains the directive that "[T]he department shall file a petition requesting the appointment on the grounds set forth in s....

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Corcoran v. State ex rel. Dep't of Ins., 502 So. 2d 966 (Fla. Dist. Ct. App. 1987).

Published | District Court of Appeal of Florida | 12 Fla. L. Weekly 470, 1987 Fla. App. LEXIS 6625

“necessary expenses of the proceeding” pursuant to section 631.152, Florida Statutes (1977 and 1979). AFFIRMED

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