Fla. Stat. 631.0515
Appointment of receiver; insurance holding company

A delinquency proceeding pursuant to this chapter constitutes the sole and exclusive method of dissolving, liquidating, rehabilitating, reorganizing, conserving, or appointing a receiver of a Florida corporation which is not insolvent as defined by s. 607.01401; which through its shareholders, board of directors, or governing body is deadlocked in the management of its affairs; and which directly or indirectly owns all of the stock of a Florida domestic insurer. The department may petition for an order directing it to rehabilitate such corporation if the interests of policyholders or the public will be harmed as a result of the deadlock. The department shall use due diligence to resolve the deadlock. Whether or not the department petitions for an order, the circuit court shall not have jurisdiction pursuant to 1s. 607.271, 1s. 607.274, or 1s. 607.277 to dissolve, liquidate, or appoint receivers with respect to, a Florida corporation which directly or indirectly owns all of the stock of a Florida domestic insurer and which is not insolvent as defined by s. 607.01401. However, a managing general agent or holding company with a controlling interest in a domestic insurer in this state is subject to jurisdiction of the court under the provisions of s. 631.025.

Source: Section 631.0515 — Appointment of receiver; insurance holding company, https://www.­flsenate.­gov/Laws/Statutes/2024/0631.­0515 (accessed Aug. 7, 2025).

631.001
Title, construction, and purpose 631.011
Definitions 631.015
Reciprocity 631.021
Jurisdiction of delinquency proceeding 631.025
Persons subject to this part 631.031
Initiation and commencement of delinquency proceeding 631.041
Automatic stay 631.042
Extension of time 631.051
Grounds for rehabilitation 631.061
Grounds for liquidation 631.071
Grounds for conservation 631.081
Grounds for conservation 631.091
Grounds for ancillary liquidation 631.101
Order of rehabilitation 631.111
Order of liquidation 631.112
Subordination of claims for noncooperation 631.121
Order of liquidation 631.131
Order of conservation or ancillary liquidation of foreign or alien insurers 631.141
Conduct of delinquency proceeding 631.152
Conduct of delinquency proceeding 631.153
Intervention 631.154
Funds, assets, or other property in the possession of third person 631.155
Agents’ balances 631.156
Investigation by the department 631.157
Civil action by the receiver 631.161
Claims of nonresidents against insurers domiciled in this state 631.171
Claims of residents against insurers domiciled in reciprocal states 631.181
Filing and proof of claim 631.182
Receiver claims report and claimants objections procedure 631.191
Special deposit claims 631.192
Allowance of certain claims 631.193
Releases 631.195
Records of insurers 631.201
Attachment and garnishment of assets 631.205
Reinsurance proceeds 631.206
Arbitration 631.221
Deposit of moneys collected 631.231
Exemption from fees 631.241
Borrowing on pledge of assets 631.251
Date rights fixed on liquidation 631.252
Continuation of coverage 631.261
Voidable transfers 631.262
Transfers prior to petition 631.263
Transfers after petition 631.271
Priority of claims 631.281
Offsets 631.311
Report and petition for assessment 631.321
Order and levy of assessment 631.331
Assessment prima facie correct 631.341
Notice of insolvency to policyholders by insurer, general agent, or agent 631.361
Seizure under court order 631.371
Seizure under order of the department 631.391
Cooperation of officers and employees 631.392
Immunity 631.395
Guaranty fund 631.397
Use of certain marshaled assets 631.398
Prevention of insolvencies 631.399
Receiver’s right to recover distributions made to affiliate 631.400
Rehabilitation of title insurer 631.401
Recovery of assessments and assumed policy obligations 631.0515
Appointment of receiver 631.1521
Actions by and against the receiver 631.1522
Unrecorded obligations and defenses and claims of affiliates 631.2715
Liability under federal priority of claims law 631.3915
Actions for damages

Current through Fall 2025

§ 631.0515. Appointment of receiver; insurance holding company's source at flsenate​.gov