The 2023 Florida Statutes (including Special Session C)

Title XXXVII
INSURANCE

Chapter 631
INSURER INSOLVENCY; GUARANTY OF PAYMENT

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F.S. 631.031

631.031 Initiation and commencement of delinquency proceeding.—

(1) Upon a determination by the office that one or more grounds for the initiation of delinquency proceedings exist pursuant to this chapter and that delinquency proceedings must be initiated, the Director of the Office of Insurance Regulation shall notify the department of such determination and shall provide the department with all necessary documentation and evidence. If the director must notify the department of a determination regarding a property insurer, the notification must include an affidavit that identifies the grounds for rehabilitation pursuant to s. 631.051; the date that each insurer was deemed impaired of capital or surplus, as the terms impairment of capital and impairment of surplus are defined in s. 631.011, or insolvent, as the term insolvency is defined in s. 631.011; a concise statement of the circumstances that led to the insurer’s delinquency; and a summary of the actions taken by the insurer and the office to avoid delinquency. The department shall then initiate such delinquency proceedings.

(2) The department may commence any such proceeding by application to the court for an order directing the insurer to show cause why the department should not have the relief prayed for. On the return of such order to show cause, and after a full hearing, the court shall either deny the application or grant the application, together with such other relief as the nature of the case and the interests of the policyholders, creditors, stockholders, members, subscribers, or public may require. The department may also commence any such proceeding by application to the court by petition for the entry of a consent order of conservation, rehabilitation, or liquidation.

(3) An insurer subject to an order to show cause entered pursuant to this chapter must file its written response to the order, together with any defenses it may have to the department’s allegations, no later than 20 days after service of the order to show cause, but no less than 15 days before the date of the hearing set by the order to show cause.

(4) A hearing held pursuant to this chapter to determine whether cause exists for the department to be appointed receiver must be commenced within 60 days after an order directing an insurer to show cause.

History.—s. 719, ch. 59-205; ss. 13, 35, ch. 69-106; s. 213, ch. 77-104; s. 809(1st), ch. 82-243; s. 38, ch. 88-166; ss. 187, 188, ch. 91-108; s. 4, ch. 91-429; s. 1343, ch. 2003-261; s. 3, ch. 2017-143; s. 20, ch. 2022-268.

F.S. 631.031 on Google Scholar

F.S. 631.031 on Casetext

Amendments to 631.031

Arrestable Offenses / Crimes under Fla. Stat. 631.031

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 631.031.

Annotations, Discussions, Cases:

Cases from cite.case.law:

FLORIDA OFFICE OF INSURANCE REGULATION, v. FLORIDA DEPARTMENT OF FINANCIAL SERVICES, LLP, a, 159 So. 3d 945 (Fla. Dist. Ct. App. 2015)

. . . .” § 631.031(1), Fla. Stat. . . . he referred the insurance companies to DFS in 2006 as he was statutorily required to do by section 631.031 . . . The court further stated that finding was supported by section 631.031(1), which states only the Insurance . . .

PAYROLL TRANSFERS INTERSTATE, INC. v. FORSHEY,, 694 So. 2d 80 (Fla. Dist. Ct. App. 1997)

. . . , which provides, in pertinent part, that the commencement of delinquency proceedings under section 631.031 . . .

In RECEIVERSHIP OF GUARANTEE SECURITY LIFE INSURANCE COMPANY, a J. PETER, v. STATE DEPARTMENT OF INSURANCE,, 678 So. 2d 828 (Fla. Dist. Ct. App. 1996)

. . . reciting the receivership court’s August 1991 and December 1992 orders and noting that under sections 631.031 . . .

JIMMY LANG S AUTO SERVICE Co. v. L. PROCTOR,, 667 So. 2d 334 (Fla. Dist. Ct. App. 1995)

. . . the provisions of section 631.041(l)(a), Florida Statutes: (1) An application or petition under s. 631.031 . . .

FLORIDA DEPARTMENT OF INSURANCE, v. CYPRESS INSURANCE COMPANY,, 660 So. 2d 1177 (Fla. Dist. Ct. App. 1995)

. . . As grounds, the petition alleged that the Department was empowered by sections 631.031 and 631.061, Florida . . . Section 631.031 recognizes the circuit court’s judicial discretion to determine whether the Department . . . interests of the policyholders, creditors, stockholders, members, subscribers, or public may require. § 631.031 . . .

DOLAN v. HARTFORD INSURANCE COMPANY OF THE SOUTHEAST, a Co., 566 So. 2d 316 (Fla. Dist. Ct. App. 1990)

. . . 631.041, Florida Statutes, has been amended to provide for an automatic stay in proceedings under section 631.031 . . .

A. SIERRA, M. D. E. f k a v. INTERNATIONAL MEDICAL CENTERS, INC. a, 538 So. 2d 102 (Fla. Dist. Ct. App. 1989)

. . . As amended the statute now provides: (1) An application or petition under s. 631.031 operates as an automatic . . .

WILLIAMS, v. GOTTLIEB,, 249 So. 2d 425 (Fla. 1971)

. . . as State Fire, by virtue of a delinquency proceeding filed April 2, 1969, under Florida Statutes § 631.031 . . .

D. SPRINGER, v. COLBURN, a, 162 So. 2d 513 (Fla. 1964)

. . . . §§ 631.011(2-3), 631.031, 631.-041, 631.141-631.211 (1961), F.S.A. . 153 So.2d 731 (Fla.App.2nd 1963 . . .