SECTION 627.482. Interest payable on cash surrender of policy.

Latest version.

1(1) 2If an insured requests payment of the cash surrender value of a policy from its insurer, such payment shall include interest at the rate of interest specified in s. 31625.121(6)(e), 32unless such payment is made by the insurer within 30 days of receipt of the insurance policy and request for cash surrender.
54(2) 55An insurer shall be exempt from the requirements of this section if, upon petition by the insurer to the office, it is determined by the office that payment of such interest threatens the solvency of the insurer.

History.-s. 1, ch. 89-360; s. 1, ch. 90-192; s. 66, ch. 91-108; s. 114, ch. 92-318; s. 1134, ch. 2003-261.

Bills Cite this Section:

None

Implemented Rule (1):

69O-149.0055. Healthy Lifestyle Rebate

Cited by Court Cases:

None

                    
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