§ 628.381, Fla. Stat. · Part I. STOCK AND MUTUAL INSURERS:ORGANIZATION AND CORPORATEPROCEDURES
Dividends to mutual policyholders.
Text — 2026 Florida Statutes
(1) The directors of a domestic mutual insurer may from time to time apportion and pay or credit to its members dividends only out of that part of its surplus funds which represents net realized savings and net realized earnings in excess of the surplus required by law to be maintained.
(2) A dividend otherwise proper may be payable out of such savings and earnings even though the insurer’s total surplus is then less than the aggregate of its contributed surplus.
Notes and commentary — not statutory text
History
s. 658, ch. 59-205; 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.
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 51893f11ae3972c0a1d5500f48127741cb7b0e4c65c75b6b07253daffc34377a
- 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 1 provision
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The Florida Statutes
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