1As used in the Florida Insurance Code, the term:10(1) 11“Affiliate” means an entity that exercises control over or is directly or indirectly controlled by the insurer through:29(a) 30Equity ownership of voting securities;
35(b) 36Common managerial control; or
40(c) 41Collusive participation by the management of the insurer and affiliate in the management of the insurer or the affiliate.
60(2) 61“Affiliated person” of another person means:67(a) 68The spouse of the other person;
74(b) 75The parents of the other person and their lineal descendants, or the parents of the other person’s spouse and their lineal descendants;
97(c) 98A person who directly or indirectly owns or controls, or holds with the power to vote, 10 percent or more of the outstanding voting securities of the other person;
127(d) 128A person, 10 percent or more of whose outstanding voting securities are directly or indirectly owned or controlled, or held with power to vote, by the other person;
156(e) 157A person or group of persons who directly or indirectly control, are controlled by, or are under common control with the other person;
180(f) 181An officer, director, partner, copartner, or employee of the other person;
192(g) 193If the other person is an investment company, an investment adviser of such company, or a member of an advisory board of such company;
217(h) 218If the other person is an unincorporated investment company not having a board of directors, the depositor of such company; or
239(i) 240A person who has entered into a written or unwritten agreement to act in concert with the other person in acquiring or limiting the disposition of securities of a domestic stock insurer or controlling company.
275(3) 276“Control,” including the terms “controlling,” “controlled by,” and “under common control with,” means the direct or indirect possession of the power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting securities, by contract other than a commercial contract for goods or nonmanagement services, or otherwise. Control is presumed to exist if a person, directly or indirectly, owns, controls, holds with the power to vote, or holds proxies representing 10 percent or more of the voting securities of another person.
370(4) 371“NAIC” means the National Association of Insurance Commissioners.
379(5) 380“Transact” with respect to insurance includes any of the following, in addition to other applicable provisions of this code:399(a) 400Solicitation or inducement.
403(b) 404Preliminary negotiations.
406(c) 407Effectuation of a contract of insurance.
413(d) 414Transaction of matters subsequent to effectuation of a contract of insurance and arising out of it.
