SECTION 625.51. Purpose of deposit.

Latest version.

1Such deposits shall be held for the following purposes:
10(1) 11Deposits made in this state under ss. 18624.411 19and 20624.412 21shall be held for the purposes stated in the respective sections.
32(2)(a) 33A deposit made in this state by a domestic insurer transacting insurance in another state, province, or country, and as required by the laws of such state, province, or country, shall be held for the protection of the insurer’s policyholders or policyholders and creditors.
77(b) 78The deposit shall be certified to another state, province, or country upon request of the insurer.
94(c) 95The deposit shall be maintained at the certified par value for any state, province, or country furnishing notification of reliance to the department.
118(3) 119Deposits required pursuant to the retaliatory provision, s. 127624.5091, 128shall be held for such purposes as are required by such law and as specified by the order of the department by which the deposit is required.

History.-s. 167, 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. 124, 134, 809(1st), ch. 82-243; s. 41, ch. 90-132; ss. 53, 187, 188, ch. 91-108; s. 4, ch. 91-429.

Bills Cite this Section:

None

Cited by Court Cases:

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