§ 628.121, Fla. Stat. · Part I. STOCK AND MUTUAL INSURERS:ORGANIZATION AND CORPORATEPROCEDURES
Capital stock; amount; payment.
Text — 2026 Florida Statutes
(1) The articles of incorporation of a stock insurer shall provide for authorized capital in an amount not less than that required under this code.
(2) In the sale of the insurer’s capital stock, an amount not less than the minimum paid-in capital stock required under this code shall be paid in with money of the United States or in equivalent United States Government securities. Any additional sums paid for stock or any stock sold after the minimum required capital has been so paid in in money may be in the form of any type of securities in which the insurer is authorized to invest its funds under part II of chapter 625.
Notes and commentary — not statutory text
History
s. 632, ch. 59-205; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 2, 3, ch. 81-318; ss. 641, 665, 809(1st), ch. 82-243; ss. 187, 188, ch. 91-108; s. 4, ch. 91-429.
Source of truth
- Edition
- 2026 Florida Statutes
- Official file
- https://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0600-0699/0628/0628.html
- Text hash
- sha256 d3d5ea1c5413040bb19730e6c90d00098275dd80daafcca2f28c637118cc47d7
- 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
- composed from the Legislature's structured HTML (one source of text; no PDF extraction); a second, independent reading of the same bytes agrees character for character
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.