The 2023 Florida Statutes (including Special Session C)

Title XXXVII
INSURANCE

Chapter 631
INSURER INSOLVENCY; GUARANTY OF PAYMENT

View Entire Chapter

F.S. 631.061

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.

F.S. 631.061 on Google Scholar

F.S. 631.061 on Casetext

Amendments to 631.061

Arrestable Offenses / Crimes under Fla. Stat. 631.061

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

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 631.061.

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)

. . . forth the grounds upon which DFS may petition for an order directing it to rehabilitate an insurer); § 631.061 . . .

DEVONSHIRE AT PGA NATIONAL, LLC, v. STATE DEPARTMENT OF FINANCIAL SERVICES OF THE STATE OF FLORIDA,, 103 So. 3d 1060 (Fla. Dist. Ct. App. 2013)

. . . conservation, reorganization, seizure, or summary proceedings of an insurer as set forth in ss. 681.051, 631.061 . . .

PROVIDENT CAPITAL INDEMNITY, LTD. v. STATE DEPARTMENT OF INSURANCE OF STATE OF FLORIDA,, 677 So. 2d 363 (Fla. Dist. Ct. App. 1996)

. . . The circuit judge reasoned that although this court found that sections 631.051 and 631.061, Florida . . . court considered only the question of the Department’s authority, pursuant to sections 631.051 and 631.061 . . .

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 . . .

PROVIDENT CAPITAL INDEMNITY, LTD. v. STATE DEPARTMENT OF INSURANCE,, 654 So. 2d 232 (Fla. Dist. Ct. App. 1995)

. . . (Provident) appeals from an order entered upon authority of sections 631.051 and 631.061, Florida Statutes . . . Provident argues that, in light of these undisputed facts, sections 631.051 and 631.061 provide no authority . . . Section 631.061 permits the department upon specified grounds to “apply to the court for an order appointing . . .

R. HOBBS, Co. v. DON MEALEY CHEVROLET, INC., 642 So. 2d 1149 (Fla. Dist. Ct. App. 1994)

. . . sections concerning grounds for rehabilitation (section 631.051), grounds for liquidation (section 631.061 . . .

In LIFECO INVESTMENT GROUP, INC., 173 B.R. 478 (Bankr. D. Del. 1994)

. . . Upon any of the grounds specified in § 631.051 [grounds for rehabilitation of a domestic insurer] or § 631.061 . . .

FLORIDA INSURANCE GUARANTY ASSOCIATION, INC. v. STATE DEPARTMENT OF INSURANCE, 400 So. 2d 813 (Fla. Dist. Ct. App. 1981)

. . . .-051, 631.061, and for the conservation or ancillary liquidation of the United States branch of alien . . . The trial court, under Sections 631.071(1) and 631.061(1) clearly has jurisdiction to adjudicate insolvency . . .