§ 624.412, Fla. Stat. · Part III. AUTHORIZATION OF INSURERS ANDGENERAL REQUIREMENTS
Deposit of alien insurers.
Text — 2026 Florida Statutes
(1) An alien insurer shall not have authority to transact insurance in this state unless it has and maintains within the United States as trust deposits with public officials having supervision over insurers, or with trustees, public depositories, or trust institutions approved by the office, assets available for discharge of its United States insurance obligations, which assets shall be in amount not less than the outstanding reserves and other liabilities of the insurer arising out of its insurance transactions in the United States together with the amount of surplus as to policyholders required by s. 624.408 of a domestic stock insurer transacting like kinds of insurance.
(2) Any such deposit made in this state shall be held for the protection of the insurer’s policyholders or policyholders and creditors in the United States and shall be subject to the applicable provisions of part III of chapter 625 and chapter 630.
Notes and commentary — not statutory text
History
s. 56, 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. 48, 64, 809(1st), ch. 82-243; ss. 17, 187, 188, ch. 91-108; s. 4, ch. 91-429; s. 80, ch. 98-199; s. 791, ch. 2003-261.
Source of truth
- Edition
- 2026 Florida Statutes
- Official file
- https://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0600-0699/0624/0624.html
- Text hash
- sha256 d3250c0a5b7de23560235600a9698e9e567199ac0977feb33d57c5b9bbfcb9fb
- Composed by
- compose_v2.py 2026-10-04: the Legislature's structured HTML read in document order; verify_v2.py's independent reading agrees character for character
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This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Cited by 4 provisions
Provisions in this library whose text cites § 624.412, Fla. Stat.. Each shows the citation as that text prints it.
The Florida Statutes
- § 624.413, Fla. Stat.Application for certificate of authority.Printed as s. 624.412
- § 625.51, Fla. Stat.Purpose of deposit.Printed as ss. 624.411 and 624.412
- § 630.021, Fla. Stat.Required deposit of assets.Printed as s. 624.412
- § 630.081, Fla. Stat.Withdrawal of assets, in general.Printed as s. 624.412; s. 624.412(1)
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.