Florida Statutes
§ 629.271 — Distribution of savings
Florida § 629.271
This text of Florida § 629.271 (Distribution of savings) 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. § 629.271 (2026).
Text
(1)A reciprocal insurer may return to its subscribers any unused premiums, savings, or credits accruing to their accounts. Such distribution may not unfairly discriminate between classes of risks or policies, or between subscribers, but may vary as to classes of subscribers based on the experience of the classes.
(2)In addition to the option provided in subsection (1), a domestic reciprocal insurer may, upon the prior written approval of the office, pay to its subscribers a portion of unassigned funds of up to 10 percent of surplus, with distribution limited to 50 percent of net income from the previous calendar year. Such distribution may not unfairly discriminate between classes of risks or policies, or between subscribers, but may vary as to classes of subscribers based on the experi
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Legislative History
s. 697, ch. 59-205; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 2, 3, ch. 81-318; ss. 681, 809(1st), ch. 82-243; ss. 187, 188, ch. 91-108; s. 4, ch. 91-429; s. 1, ch. 2016-168.
Nearby Sections
15
§ 629.011
Definitions§ 629.031
Scope of chapter§ 629.041
Insuring powers of reciprocals§ 629.051
Name; suits§ 629.071
Surplus funds required§ 629.081
Organization of reciprocal insurer§ 629.091
Reciprocal certificate of authority§ 629.101
Power of attorney§ 629.111
Modifications§ 629.121
Attorney’s bond§ 629.131
Deposit in lieu of bond§ 629.141
Action on bond§ 629.161
Contributions to insurer§ 629.171
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Bluebook (online)
Florida § 629.271, Counsel Stack Legal Research, https://law.counselstack.com/statute/fl/629.271.