Florida § 625.51 Purpose of deposit

Florida Statutes

§ 625.51 — Purpose of deposit

Florida § 625.51

TitleXXXVII

Ch. 625ACCOUNTING, INVESTMENTS, AND DEPOSITS BY INSURERS

This text of Florida § 625.51 (Purpose of deposit) is published on Counsel Stack Legal Research, covering Florida primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Fla. Stat. § 625.51 (2026).

Text

Such deposits shall be held for the following purposes:

(1)Deposits made in this state under ss. 624.411 and 624.412 shall be held for the purposes stated in the respective sections.

(2)(a) A deposit made in this state by a domestic insurer transacting insurance in another state, province, or country, and as required by the laws of such state, province, or country, shall be held for the protection of the insurer’s policyholders or policyholders and creditors.

(b)The deposit shall be certified to another state, province, or country upon request of the insurer.

(c)The deposit shall be maintained at the certified par value for any state, province, or country furnishing notification of reliance to the department.

(3)Deposits required pursuant to the retaliatory provision, s. 624.5091, s

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Such deposits shall be held for the following purposes:

(1) Deposits made in this state under ss. 624.411 and 624.412 shall be held for the purposes stated in the respective sections.

(2)(a) A deposit made in this state by a domestic insurer transacting insurance in another state, province, or country, and as required by the laws of such state, province, or country, shall be held for the protection of the insurer’s policyholders or policyholders and creditors. (b) The deposit shall be certified to another state, province, or country upon request of the insurer. (c) The deposit shall be maintained at the certified par value for any state, province, or country furnishing notification of reliance to the department.

(3) Deposits required pursuant to the retaliatory provision, s. 624.5091, shall be held for such purposes as are required by such law and as specified by the order of the department by which the deposit is required.

Legislative History

s. 167, ch. 59-205; ss. 13, 35, ch. 69-106; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 2, 3, ch. 81-318; ss. 124, 134, 809(1st), ch. 82-243; s. 41, ch. 90-132; ss. 53, 187, 188, ch. 91-108; s. 4, ch. 91-429.