eLaws of Florida

  SECTION 624.83. Prohibited acts during period of supervision.  


Latest version.
  • 1The office may provide that the insurer may not conduct the following activities during the period of supervision, without prior approval by the office:
    25(1) 26Dispose of, convey, or encumber any of its assets or its business in force;
    40(2) 41Withdraw any of its bank accounts;
    47(3) 48Lend any of its funds;
    53(4) 54Invest any of its funds;
    59(5) 60Transfer any of its property;
    65(6) 66Incur any debt, obligation, or liability;
    72(7) 73Merge or consolidate with another company;
    79(8) 80Enter into any new reinsurance contract or treaty;
    88(9) 89Terminate, surrender, forfeit, convert, or lapse any insurance policy, certificate, or contract of insurance, except for nonpayment of premiums due;
    109(10) 110Release, pay, or refund premium deposits, accrued cash or loan values, unearned premiums, or other reserves on any insurance policy or certificate; or
    133(11) 134Make any material change in management.
History.-ss. 71, 72, ch. 89-360; s. 4, ch. 91-429; s. 859, ch. 2003-261.

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