§ 628.341, Fla. Stat. · Part I. STOCK AND MUTUAL INSURERS:ORGANIZATION AND CORPORATEPROCEDURES
Nonassessable policies; mutual insurers.
Text — 2026 Florida Statutes
(1) While possessing surplus funds in amount not less than the paid-in capital stock required of a domestic stock insurer transacting like kinds of insurance, a domestic mutual insurer may, upon receipt of the order of the office so authorizing, extinguish the contingent liability of its members as to all its policies in force and may omit provisions imposing contingent liability in all its policies currently issued so long as such surplus funds meet such requirement as to amount.
(2) A foreign or alien mutual insurer may issue nonassessable policies to its members in this state pursuant to its articles of incorporation and the laws of its domicile.
Notes and commentary — not statutory text
History
s. 654, 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. 665, 809(1st), ch. 82-243; ss. 187, 188, ch. 91-108; s. 4, ch. 91-429; s. 1273, 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=0600-0699/0628/0628.html
- Text hash
- sha256 0ec652c8d42c25768de8eb692243b6345d477fee1c8ccd6ddeecad4f9512ff2f
- 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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Cited by 3 provisions
Provisions in this library whose text cites § 628.341, Fla. Stat.. Each shows the citation as that text prints it.
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