The 2023 Florida Statutes (including Special Session C)

Title XXXVII
INSURANCE

Chapter 631
INSURER INSOLVENCY; GUARANTY OF PAYMENT

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F.S. 631.131

631.131 Order of conservation or ancillary liquidation of foreign or alien insurers.—

(1) An order to conserve the assets of a foreign or alien insurer shall require the department forthwith to take possession of the property of the insurer within this state and to conserve it, subject to the further direction of the court.

(2) An order to liquidate the assets in this state of a foreign insurer shall require the department forthwith to take possession of the property of the insurer within this state, to take all steps necessary to prevent wasting of the assets, to marshal all assets in accordance with s. 631.111(2), insofar as that subsection does not conflict with the rights of the domiciliary receiver, and to liquidate it subject to the orders of the court and with due regard to the rights and powers of the domiciliary receiver as provided in this chapter.

History.—s. 729, ch. 59-205; ss. 13, 35, ch. 69-106; s. 6, ch. 70-27; s. 1, ch. 70-439; s. 809(1st), ch. 82-243; ss. 187, 188, ch. 91-108; s. 4, ch. 91-429.

F.S. 631.131 on Google Scholar

F.S. 631.131 on Casetext

Amendments to 631.131

Arrestable Offenses / Crimes under Fla. Stat. 631.131

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

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 631.131.

Annotations, Discussions, Cases:

Cases from cite.case.law:

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

. . . Department argues that its ancillary receivership is pursuant to a conservation concept governed by § 631.131 . . . Fla.Stat.Ann. ch. 631.071 (West 1994) Section 631.131(1), in turn, provides as follows: An order to conserve . . . Fla.Stat.Ann. ch. 631.131 (West 1994). . . . Note that § 631.071 refers to "assets” while § 631.131 refers to "property.” . . .

NOVA INSURANCE GROUP, INC. v. FLORIDA DEPARTMENT OF INSURANCE,, 606 So. 2d 429 (Fla. Dist. Ct. App. 1992)

. . . receiver when liquidating an insurer domiciled in a reciprocal state is described in sections 631.152 and 631.131 . . . Section 631.131(2) provides that an order to liquidate the Florida assets of a foreign insurer requires . . . of section 631.-154 is buttressed by numerous sections of the act which, like sections 631.152 and 631.131 . . .

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

. . . .-081, 631.131. . . . Further, Section 631.131(2) recognizes the paramount authority and control vested in the receiver of . . .