reglab/housing_qa huggingface dataset:
FL Stat § 628.802 (2021)
2021 Florida Statutes|Title XXXVII - Insurance|Chapter 628 - Stock and Mutual Insurers; Holding Companies|Part IV - Insurance Holding Companies (Ss. 628.801-628.805)|628.802 - Injunction.

628.802 Injunction.—(1) Whenever it appears to the office that any insurer or any director, officer, or employee thereof, or appears to the department that any agent thereof has committed or is about to commit a violation of this part or of any rule or order issued by the commission, office, or department pursuant to this part, the office or department may apply to the circuit court in and for Leon County for an order enjoining the insurer, director, officer, employee, or agent from violating or continuing to violate this part or the rule or order and for other equitable relief as the nature of the case and the interest of the insurer’s policyholders, creditors, and shareholders or the public may require.(2) Notwithstanding any other provision of law, for the purposes of this part the situs of the ownership of the securities of domestic insurers shall be deemed to be in this state.History.—s. 9, ch. 85-214; s. 1, ch. 86-286; ss. 187, 188, ch. 91-108; s. 4, ch. 91-429; s. 1310, ch. 2003-261.
FL Stat § 628.804 (2021)
2021 Florida Statutes|Title XXXVII - Insurance|Chapter 628 - Stock and Mutual Insurers; Holding Companies|Part IV - Insurance Holding Companies (Ss. 628.801-628.805)|628.804 - Groupwide supervision for international insurance groups.

628.804 Groupwide supervision for international insurance groups.—(1) As used in this section:(a) “Groupwide supervisor” means the chief insurance regulatory official for the jurisdiction who is determined by the office to have significant contacts with the international insurance group sufficient to conduct and coordinate groupwide supervision activities.(b) “International insurance group” means an insurance group operating internationally which includes an insurer.(2) The office may act as the groupwide supervisor for an international insurance group in which the ultimate controlling person of the group is domiciled in this state.(3)(a) If the ultimate controlling person is domiciled outside this state, the office, in cooperation with other groupwide supervisors, may:1. Determine that the office is the appropriate groupwide supervisor for an international insurance group with substantial operations concentrated in this state or in insurance operations conducted by subsidiary insurance companies domiciled in this state; or2. Acknowledge that another chief insurance regulatory official is the appropriate groupwide supervisor for the international insurance group.(b) Before issuing a determination, the office must notify the insurer and the ultimate controlling person within the international insurance group and provide the international insurance group with at least 30 days to submit information pertinent to the pending determination.(4) The commission may adopt rules to administer this section, including rules establishing the criteria for making a determination under paragraph (3)(a), such as the extent of insurance operations in this state and nation; the location of the executive offices, assets and liabilities, and business operations of the international insurance group; the domicile of the ultimate controlling person of the international insurance group; and the similarity of the regulatory systems of other jurisdictions acting or seeking to act as lead groupwide supervisor.History.—s. 13, ch. 2014-101.
FL Stat § 628.805 (2021)
2021 Florida Statutes|Title XXXVII - Insurance|Chapter 628 - Stock and Mutual Insurers; Holding Companies|Part IV - Insurance Holding Companies (Ss. 628.801-628.805)|628.805 - Supervisory colleges.

628.805 Supervisory colleges.—In order to assess the business strategy, financial position, legal and regulatory position, risk exposure, risk management, and governance processes, and as part of the examination of individual insurers in accordance with ss. 624.316 and 628.801, the office may participate in a supervisory college with other regulators charged with supervision of the insurer or its affiliates, including other state, federal, and international regulatory agencies. In accordance with s. 624.4212 regarding confidential information sharing, the office may enter into agreements that provide the basis for cooperation between the office and the other regulatory agencies and the activities of the supervisory college. This section does not delegate to the supervisory college the office’s authority to regulate or supervise the insurer or its affiliates under its jurisdiction.(1) With respect to participation in a supervisory college, the office may:(a) Initiate the establishment of a supervisory college.(b) Clarify the membership and participation of other supervisors in the supervisory college.(c) Clarify the functions of the supervisory college and the role of other regulators, including the establishment of a groupwide supervisor.(d) Coordinate the ongoing activities of the supervisory college, including planning meetings, supervisory activities, and processes for information sharing.(e) Establish a crisis management plan.(2) With respect to an insurer registered under s. 628.801, and in accordance with this section, the office may participate in a supervisory college for any domestic insurer that is part of an insurance holding company system that has international operations in order to determine the insurer’s compliance with this chapter.(3) Each registered insurer subject to this section is liable for and shall pay reasonable expenses for the office’s participation in a supervisory college, including reasonable travel expenses. A supervisory college may be convened as a temporary or permanent forum for communication and cooperation between the regulators charged with the supervision of the insurer or its affiliates, and the office may impose a regular assessment on the insurer for the payment of these expenses.History.—s. 14, ch. 2014-101.
FL Stat § 628.908 (2021)
2021 Florida Statutes|Title XXXVII - Insurance|Chapter 628 - Stock and Mutual Insurers; Holding Companies|Part V - Captive Insurers (Ss. 628.901-628.920)|628.908 - Surplus requirements; restriction on payment of dividends.

628.908 Surplus requirements; restriction on payment of dividends.—(1) The office may not issue a license to a captive insurance company unless the company possesses and maintains unimpaired surplus of:(a) In the case of a pure captive insurance company, at least $150,000.(b) In the case of an industrial insured captive insurance company incorporated as a stock insurer, at least $300,000.(c) In the case of an industrial insured captive insurance company incorporated as a mutual insurer, at least $500,000.(d) In the case of a special purpose captive insurance company, an amount determined by the office after giving due consideration to the company’s business plan, feasibility study, and pro forma financial statements and projections, including the nature of the risks to be insured.(2) For purposes of this section, the office may issue a license expressly conditioned upon the captive insurance company providing to the office satisfactory evidence of possession of the minimum required unimpaired surplus. Until this evidence is provided, the captive insurance company may not issue any policy, assume any liability, or otherwise provide coverage. The office may revoke the conditional license if satisfactory evidence of the required surplus is not provided within a maximum period of time, not to exceed 1 year, to be established by the office at the time the conditional license is issued.(3) A captive insurance company may not pay a dividend out of, or other distribution with respect to, capital or surplus in excess of the limitations set forth in this chapter without the prior approval of the office. Approval of an ongoing plan for the payment of dividends or other distribution must be conditioned upon the retention, at the time of each payment, of capital or surplus in excess of amounts specified by, or determined in accordance with formulas approved by, the office.(4) An irrevocable letter of credit that is issued by a financial institution other than a bank chartered by this state or a member bank of the Federal Reserve System must meet the same standards as an irrevocable letter of credit that has been issued by a bank chartered by this state or a member bank of the Federal Reserve System.History.—s. 23, ch. 2012-151.
FL Stat § 628.909 (2021)
2021 Florida Statutes|Title XXXVII - Insurance|Chapter 628 - Stock and Mutual Insurers; Holding Companies|Part V - Captive Insurers (Ss. 628.901-628.920)|628.909 - Applicability of other laws.

628.909 Applicability of other laws.—(1) The Florida Insurance Code does not apply to captive insurance companies or industrial insured captive insurance companies except as provided in this part and subsections (2) and (3).(2) The following provisions of the Florida Insurance Code apply to captive insurance companies who are not industrial insured captive insurance companies to the extent that such provisions are not inconsistent with this part:(a) Chapter 624, except for ss. 624.407, 624.408, 624.4085, 624.40851, 624.4095, 624.411, 624.425, and 624.426.(b) Chapter 625, part II.(c) Chapter 626, part IX.(d) Sections 627.730-627.7405, when no-fault coverage is provided.(e) Chapter 628.(3) The following provisions of the Florida Insurance Code shall apply to industrial insured captive insurance companies to the extent that such provisions are not inconsistent with this part:(a) Chapter 624, except for ss. 624.407, 624.408, 624.4085, 624.40851, 624.4095, 624.411, 624.425, 624.426, and 624.609(1).(b) Chapter 625, part II, if the industrial insured captive insurance company is incorporated in this state.(c) Chapter 626, part IX.(d) Sections 627.730-627.7405 when no-fault coverage is provided.(e) Chapter 628, except for ss. 628.341, 628.351, and 628.6018.History.—ss. 664, 809(1st), ch. 82-243; s. 46, ch. 83-215; ss. 5, 11, ch. 87-127; s. 34, ch. 87-226; ss. 187, 188, ch. 91-108; s. 4, ch. 91-429; s. 33, ch. 95-211; s. 67, ch. 2001-63; s. 122, ch. 2005-2; s. 24, ch. 2012-151; s. 4, ch. 2013-209.Note.—Former s. 628.607.
FL Stat § 628.911 (2021)
2021 Florida Statutes|Title XXXVII - Insurance|Chapter 628 - Stock and Mutual Insurers; Holding Companies|Part V - Captive Insurers (Ss. 628.901-628.920)|628.911 - Reports and statements.

628.911 Reports and statements.—(1) A captive insurance company may not be required to make any annual report except as provided in this part.(2) Annually no later than March 1, a captive insurance company or a captive reinsurance company shall submit to the office a report of its financial condition verified by oath of two of its executive officers. Except as provided in this part, a captive insurance company or a captive reinsurance company must report using generally accepted accounting principles, unless the office approves the use of statutory accounting principles, with useful or necessary modifications or adaptations required or approved or accepted by the office for the type of insurance and kinds of insurers to be reported upon, and as supplemented by additional information required by the office. The Financial Services Commission may adopt by rule the form in which captive insurance companies shall report.(3) A captive insurance company may make written application for filing the required report on a fiscal year end that is consistent with the parent company’s fiscal year. If an alternative reporting date is granted, the annual report is due 60 days after the fiscal year end.History.—ss. 664, 809(1st), ch. 82-243; ss. 6, 11, ch. 87-127; ss. 187, 188, ch. 91-108; s. 4, ch. 91-429; s. 1313, ch. 2003-261; s. 26, ch. 2012-151.Note.—Former s. 628.609.
FL Stat § 628.912 (2021)
2021 Florida Statutes|Title XXXVII - Insurance|Chapter 628 - Stock and Mutual Insurers; Holding Companies|Part V - Captive Insurers (Ss. 628.901-628.920)|628.912 - Discounting of loss and loss adjustment expense reserves.

628.912 Discounting of loss and loss adjustment expense reserves.—(1) A captive reinsurance company may discount its loss and loss adjustment expense reserves at treasury rates applied to the applicable payments projected through the use of the expected payment pattern associated with the reserves.(2) A captive reinsurance company must file annually an actuarial opinion on loss and loss adjustment expense reserves provided by an independent actuary. The actuary may not be an employee of the captive reinsurance company or its affiliates.(3) The office may disallow the discounting of reserves if a captive reinsurance company violates a provision of this part.History.—s. 27, ch. 2012-151.
FL Stat § 628.913 (2021)
2021 Florida Statutes|Title XXXVII - Insurance|Chapter 628 - Stock and Mutual Insurers; Holding Companies|Part V - Captive Insurers (Ss. 628.901-628.920)|628.913 - Captive reinsurance companies.

628.913 Captive reinsurance companies.—(1) A captive reinsurance company, if permitted by its articles of incorporation or charter, may apply to the office for a license to write reinsurance covering property and casualty insurance or reinsurance contracts. A captive reinsurance company authorized by the office may write reinsurance contracts covering risks in any state; however, a captive reinsurance company authorized by the office may not directly insure risks.(2) To conduct business in this state, a captive reinsurance company must:(a) Obtain from the office a license authorizing it to conduct business as a captive reinsurance company in this state;(b) Hold at least one board of directors’ meeting each year in this state;(c) Maintain its principal place of business in this state; and(d) Appoint a registered agent to accept service of process and act otherwise on its behalf in this state.(3) Before receiving a license, a captive reinsurance company must file with the office:(a) A certified copy of its charter and bylaws;(b) A statement under oath of its president and secretary showing its financial condition; and(c) Other documents required by the office.(4) In addition to the information required by this section, the captive reinsurance company must file with the office evidence of:(a) The amount and liquidity of the captive reinsurance company’s assets relative to the risks to be assumed;(b) The adequacy of the expertise, experience, and character of the person who manages the company;(c) The overall soundness of the company’s plan of operation; and(d) Other overall factors considered relevant by the office in ascertaining if the company would be able to meet its policy obligations.History.—ss. 664, 809(1st), ch. 82-243; s. 2, ch. 83-165; ss. 7, 11, ch. 87-127; s. 35, ch. 87-226; ss. 187, 188, ch. 91-108; s. 4, ch. 91-429; s. 1314, ch. 2003-261; s. 28, ch. 2012-151.Note.—Former s. 628.611.
FL Stat § 628.914 (2021)
2021 Florida Statutes|Title XXXVII - Insurance|Chapter 628 - Stock and Mutual Insurers; Holding Companies|Part V - Captive Insurers (Ss. 628.901-628.920)|628.914 - Minimum capitalization or reserves for captive reinsurance companies.

628.914 Minimum capitalization or reserves for captive reinsurance companies.—(1) The office may not issue a license to a captive reinsurance company unless the company possesses and maintains capital or unimpaired surplus of at least the greater of $300 million or 10 percent of reserves. The surplus may be in the form of cash or securities as permitted by part II of chapter 625.(2) The office may prescribe additional capital or surplus based upon the type, volume, and nature of the insurance business transacted.(3) A captive reinsurance company may not pay a dividend out of, or other distribution with respect to, capital or surplus in excess of the limitations without the prior approval of the office. Approval of an ongoing plan for the payment of dividends or other distributions must be conditioned upon the retention, at the time of each payment, of capital or surplus in excess of amounts specified by, or determined in accordance with formulas approved by, the office.History.—s. 29, ch. 2012-151.
FL Stat § 628.9141 (2021)
2021 Florida Statutes|Title XXXVII - Insurance|Chapter 628 - Stock and Mutual Insurers; Holding Companies|Part V - Captive Insurers (Ss. 628.901-628.920)|628.9141 - Incorporation of a captive reinsurance company.

628.9141 Incorporation of a captive reinsurance company.—(1) A captive reinsurance company must be incorporated as a stock insurer with its capital divided into shares and held by its shareholders.(2) A captive reinsurance company may not have fewer than three incorporators of whom at least two must be residents of this state.(3) Before the articles of incorporation are transmitted to the Secretary of State, the incorporators must comply with all the requirements of s. 628.091.(4) The capital stock of a captive reinsurance company must be issued at par value of not less than $1 or more than $100 per share.(5) At least one of the members of the board of directors of a captive reinsurance company incorporated in this state must be a resident of this state.History.—s. 30, ch. 2012-151.
FL Stat § 628.9142 (2021)
2021 Florida Statutes|Title XXXVII - Insurance|Chapter 628 - Stock and Mutual Insurers; Holding Companies|Part V - Captive Insurers (Ss. 628.901-628.920)|628.9142 - Reinsurance; effect on reserves.

628.9142 Reinsurance; effect on reserves.—(1) A captive insurance company may provide reinsurance, as authorized in this part, on risks ceded by any other insurer.(2) A captive insurance company may take credit for reserves on risks or portions of risks ceded to authorized insurers or reinsurers and unauthorized insurers or reinsurers complying with s. 624.610. A captive insurance company may not take credit for reserves on risks or portions of risks ceded to an unauthorized insurer or reinsurer if the insurer or reinsurer is not in compliance with s. 624.610.History.—s. 31, ch. 2012-151; s. 5, ch. 2013-209.
FL Stat § 628.915 (2021)
2021 Florida Statutes|Title XXXVII - Insurance|Chapter 628 - Stock and Mutual Insurers; Holding Companies|Part V - Captive Insurers (Ss. 628.901-628.920)|628.915 - Exemption from compulsory association.

628.915 Exemption from compulsory association.—(1) No captive insurance company shall be permitted to join or contribute financially to any joint underwriting association or guaranty fund in this state; nor shall any captive insurance company, its insured, or its parent or any affiliated company receive any benefit from any such joint underwriting association or guaranty fund for claims arising out of the operations of such captive insurer.(2) No industrial insured captive insurance company shall be permitted to join or contribute financially to any joint underwriting association or guaranty fund in this state; nor shall any industrial insured captive insurance company, its industrial insured, or its parent or any affiliated company receive any benefit from any such joint underwriting association or guaranty fund for claims arising out of the operations of such industrial insured captive insurance company.History.—ss. 664, 809(1st), ch. 82-243; ss. 8, 11, ch. 87-127; ss. 187, 188, ch. 91-108; s. 4, ch. 91-429; s. 6, ch. 2013-209.Note.—Former s. 628.613.
FL Stat § 628.917 (2021)
2021 Florida Statutes|Title XXXVII - Insurance|Chapter 628 - Stock and Mutual Insurers; Holding Companies|Part V - Captive Insurers (Ss. 628.901-628.920)|628.917 - Insolvency and liquidation.

628.917 Insolvency and liquidation.—In the event that a captive insurance company is insolvent as defined in chapter 631, the office shall liquidate the captive insurance company pursuant to the provisions of part I of chapter 631; except that the office shall make no attempt to rehabilitate such insurance company.History.—ss. 664, 809(1st), ch. 82-243; ss. 9, 11, ch. 87-127; ss. 187, 188, ch. 91-108; s. 4, ch. 91-429; s. 1315, ch. 2003-261; s. 7, ch. 2013-209.Note.—Former s. 628.617.
FL Stat § 628.918 (2021)
2021 Florida Statutes|Title XXXVII - Insurance|Chapter 628 - Stock and Mutual Insurers; Holding Companies|Part V - Captive Insurers (Ss. 628.901-628.920)|628.918 - Management of assets of captive reinsurance company.

628.918 Management of assets of captive reinsurance company.—At least 35 percent of the assets of a captive reinsurance company must be managed by an asset manager domiciled in this state.History.—s. 32, ch. 2012-151.
FL Stat § 628.919 (2021)
2021 Florida Statutes|Title XXXVII - Insurance|Chapter 628 - Stock and Mutual Insurers; Holding Companies|Part V - Captive Insurers (Ss. 628.901-628.920)|628.919 - Standards to ensure risk management control by parent company.

628.919 Standards to ensure risk management control by parent company.—A pure captive insurance company shall submit to the office for approval standards to ensure that a parent or affiliated company is able to exercise control of the risk management function of any controlled unaffiliated business to be insured by the pure captive insurance company.History.—s. 33, ch. 2012-151; s. 8, ch. 2013-209.
FL Stat § 628.920 (2021)
2021 Florida Statutes|Title XXXVII - Insurance|Chapter 628 - Stock and Mutual Insurers; Holding Companies|Part V - Captive Insurers (Ss. 628.901-628.920)|628.920 - Eligibility of licensed captive insurance company for certificate of authority to act as insurer.

628.920 Eligibility of licensed captive insurance company for certificate of authority to act as insurer.—A licensed captive insurance company that meets the necessary requirements of this part imposed upon an insurer must be considered for issuance of a certificate of authority to act as an insurer in this state.History.—s. 34, ch. 2012-151.
FL Stat § 631.001 (2021)
2021 Florida Statutes|Title XXXVII - Insurance|Chapter 631 - Insurer Insolvency; Guaranty of Payment|Part I - Insurer Insolvency: Rehabilitation and Liquidation (Ss. 631.001-631.401)|631.001 - Title, construction, and purpose.

631.001 Title, construction, and purpose.—(1) This part constitutes and may be cited as the “Insurers Rehabilitation and Liquidation Act.”(2) This part shall be liberally construed to effect the purposes of this part.(3) The purposes of this part, which are integral elements of the regulation of the business of insurance and are of vital public interest and concern, are to:(a) Protect the interests of policyholders, creditors, and other claimants and the public.(b) Provide a comprehensive scheme for administering insurer receiverships.(c) Detect any potentially dangerous condition in an insurer and promptly apply appropriate corrective measures.(d) Implement improved methods for rehabilitating insurers, which methods involve the cooperation and management expertise of the insurance industry.(e) Enhance the efficiency and economy of the liquidation process by clarifying the law to minimize legal uncertainty and litigation.(f) Establish a system to equitably apportion any unavoidable loss.(g) Administer insurer receiverships more efficiently on an interstate and international basis by facilitating cooperation between states and by extending the scope of personal jurisdiction over debtors of the insurer outside this state.(h) Maximize recovery of assets for the benefit of the insurer’s estate; policyholders, creditors, and other claimants; and the public.History.—s. 737, ch. 59-205; s. 1, ch. 70-27; s. 1, ch. 70-439; s. 809(1st), ch. 82-243; s. 1, ch. 83-38; ss. 187, 188, ch. 91-108; s. 4, ch. 91-429; s. 3, ch. 2002-25.Note.—Consolidation of s. 631.001 and former s. 631.211.
FL Stat § 631.015 (2021)
2021 Florida Statutes|Title XXXVII - Insurance|Chapter 631 - Insurer Insolvency; Guaranty of Payment|Part I - Insurer Insolvency: Rehabilitation and Liquidation (Ss. 631.001-631.401)|631.015 - Reciprocity; treatment of policyholders.

631.015 Reciprocity; treatment of policyholders.—Reciprocity in the treatment of policyholders in receivership is extended to those states which, in substance and effect, enact the National Association of Insurance Commissioners Rehabilitation and Liquidation Model Act, the Uniform Insurers Liquidation Act, or the Insurer Receivership Model Act.History.—s. 5, ch. 2002-25; s. 1, ch. 2017-143.