Florida Statute 631.311 - Full Text and Legal Analysis

The 2025 Florida Statutes

Title XXXVII
INSURANCE

Chapter 631
INSURER INSOLVENCY; GUARANTY OF PAYMENT

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631.311 Report and petition for assessment.—Within 3 years after the date of the entry of an order of rehabilitation or liquidation of a domestic mutual insurer or a domestic reciprocal insurer, the department may make and file its report and petition to the court setting forth:

(1) The reasonable value of the assets of the insurer;

(2) The liabilities of the insurer to the extent thus far ascertained by the department;

(3) The aggregate amount of the assessment, if any, which the department deems reasonably necessary to pay all claims, the costs and expenses of the collection of the assessments, and the costs and expenses of the delinquency proceeding in full;

(4) Any other information relative to the affairs or property of the insurer that the department deems material.

History.—s. 747, ch. 59-205; ss. 13, 35, ch. 69-106; s. 809(1st), ch. 82-243; ss. 187, 188, ch. 91-108; s. 4, ch. 91-429.

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Amendments to 631.311

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Cases Citing Statute 631.311

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Super Transp., Inc. v. Florida Dep't of Ins., 799 So. 2d 286 (Fla. 1st DCA 2001).

Published | Florida 1st District Court of Appeal | 2001 Fla. App. LEXIS 13728

...FESA’s Receiver for purposes of liquidation, and was authorized, inter alia, to “[c]alculate any necessary assessments pursuant to sections 624.474, 624.476, Florida Statutes, and utilize the assessment collection procedure set forth in sections 631.311, 631.321, and 631.331, Florida Statutes.” On October 15, 1999, pursuant to section 631.311, the Receiver timely filed its report and petition for an order approving and directing assessment of FESA’s members....

...lants were to breach the FESA indemnity agreement by failing to pay the assessment. The only applicable *290 limitations period at this stage of the receivership proceeding is the three-year period after entry of the order of liquidation provided by section 631.311, within which the Receiver timely filed its petition seeking approval of the assessment....

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