reglab/statecodes huggingface dataset:
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69O - OIR - Insurance Regulation › Chapter 69O-142 - INSURER CONDUCT › Section 69O-142.012 - NAIC Market Regulation Handbook Adopted

Current through Reg. 50, No. 138; July 16, 2024
The National Association of Insurance Commissioners Market
				  Regulation Handbook 2023 is hereby adopted and incorporated by reference. The
				  agency has determined that posting the incorporated material would be a
				  violation of federal copyright law. The Market Regulation Handbook is available
				  for public inspection during regular business hours at the Office of Insurance
				  Regulation, Larson Building, 200 East Gaines Street, Tallahassee, Florida
				  32399-0300, or at the Department of State, R.A. Gray Building, 500 South
				  Bronough Street, Tallahassee, Florida 32399-0250. A copy of the Market
				  Regulation Handbook may also be obtained from the National Association of
				  Insurance Commissioners 1100 Walnut Street, Suite 1500, Kansas City, MO
				  64106-2197, Telephone (816)783-8500, website:
http://www.naic.org
.
Rulemaking Authority 624.308(1), 624.316(1)(c) FS. Law
					 Implemented 624.316 FS.
- New 2-18-24.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69O - OIR - Insurance Regulation › Chapter 69O-142 - INSURER CONDUCT › Section 69O-142.015 - Standardized Requirements Applicable to Insurers After Hurricanes or Natural Disasters

Current through Reg. 50, No. 138; July 16, 2024
This rule adopts standardized requirements that may be
				  applied to insurers as a consequence of a hurricane or other natural disaster.
				  The Office is authorized to issue an Order or Orders deemed necessary to
				  protect the health, safety and welfare, activating the requirements herein, in
				  whole or in part. An Order may be amended as deemed necessary to accommodate
				  the particular circumstances of the specified hurricane or natural disaster.
				  The following standardized provisions may be activated as provided
				  herein:
(1) Claims Reporting
				Requirements.
(a) This subsection applies to
				all property and casualty contracts of insurance subject to regulation under
				the Florida Insurance Code including:
1. All
				policies referenced in Chapters 440, 624, 626, and 627, F.S.; and
2. Premium finance company contracts
				associated with property and casualty contracts.
References in this subsection herein to "policy" or "contract
				  of insurance" includes all property and casualty contracts regulated under the
				  Florida Insurance Code. References to "insurer" include all regulated entities
				  issuing these contracts.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69O - OIR - Insurance Regulation › Chapter 69O-143 - DOMESTIC INSURERS › Section 69O-143.001 - Application and Scope of Chapter

Current through Reg. 50, No. 138; July 16, 2024
The following rules and regulations shall be applicable to
				  and govern equity securities of all domestic stock insurers, unless:
(1) Such securities shall be registered, or
				shall be required to be registered, pursuant to section 12 of the Securities
				Exchange Act of 1934, as amended, or unless
(2) Such domestic stock insurer shall not
				have any class of its equity securities held of record by 100 or more persons
				on the last business day of the year next preceding the year in which such
				securities would be subject to the provisions of sections
				625.75,
				625.76 and
				625.77, F.S., in which event
				such securities shall be exempt from the provisions of said sections
				625.75,
				625.76 and
				625.77,
				F.S.
Rulemaking Authority 625.82 FS. Law Implemented 625.75,
					 625.81 FS.
New 4-23-66, Repromulgated 12-24-74, Formerly 4-19.01,
					 4-19.001, 4-143.001.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69O - OIR - Insurance Regulation › Chapter 69O-143 - DOMESTIC INSURERS › Section 69O-143.002 - Definitions

Current through Reg. 50, No. 138; July 16, 2024
(1) "Insurer" means any domestic stock
				insurance company, with an equity security subject to the provisions of part IV
				of chapter 625, F.S., and not exempt thereunder.
(2) "Act" means part IV of chapter 625,
				F.S.
(3) "Director" means Director
				of the Office of Insurance Regulation.
(4) "Officer" means a president, vice
				president, treasurer, actuary, secretary, controller and any other person who
				performs for the insurer functions corresponding to those performed by the
				foregoing officers.
(5) "Equity
				Security" means any stock or similar security; or any voting trust certificate
				or certificate of deposit for such a security; or any security convertible,
				with or without consideration into such a security, or carrying any warrant or
				right to subscribe to or purchase such a security; or any such warrant or
				right; or any other security which the Director shall deem to be of a similar
				nature and consider necessary or appropriate in the public interest or for the
				protection of investors, to treat as an equity security.
(6) Securities "held of record."
(a) For the purpose of determining whether
				the equity securities of an insurer are held of record by one hundred or more
				persons, securities shall be deemed to be "held of record" by each person who
				is identified as the owner of such securities on records of security holders
				maintained by or on behalf of the insurer, subject to the following:
1. In any case where the records of security
				holders have not been maintained in accordance with accepted practice, any
				additional person who would be identified as such an owner on such records if
				they had been maintained in accordance with accepted practice shall be included
				as a holder of record.
2.
				Securities identified as held of record by a corporation, a partnership, a
				trust whether or not the trustees are named, or other organization shall be
				included as so held by one person.
3. Securities identified as held of record by
				one or more persons as trustees, executors, guardians, custodians or in other
				fiduciary capacities with respect to a single trust, estate or account shall be
				included as held of record by one person.
4. Securities held by two or more persons as
				co-owners shall be included as held by one person.
5. Each outstanding unregistered or bearer
				certificate shall be included as held of record by a separate person, except to
				the extent that the insurer can establish that, if such securities were
				registered, they would be held of record, under the provisions of this rule, by
				a lesser number of persons.
6.
				Securities registered in substantially similar names where the insurer has
				reason to believe because of the address or other indications that such names
				represent the same person, may be included as held of record by one
				person.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69O - OIR - Insurance Regulation › Chapter 69O-143 - DOMESTIC INSURERS › Section 69O-143.003 - Filing of Statements

Current through Reg. 50, No. 138; July 16, 2024
Initial statements of beneficial ownership of equity
				  securities required by section
				  625.75, F.S., of the Act shall
				  be filed on Form A [eff. 4/66, available from Office of the Director].
				  Statements of changes in such beneficial ownership required by said section
				  shall be filed on Form B, [eff. 4/66, available from Office of the Director].
				  All such statements shall be prepared and filed in accordance with the
				  requirements of the applicable form.
Rulemaking Authority 625.82 FS. Law Implemented 625.75
					 FS.
New 4-23-66, Repromulgated 12-24-74, Formerly 4-19.03,
					 4-19.003, 4-143.003.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69O - OIR - Insurance Regulation › Chapter 69O-143 - DOMESTIC INSURERS › Section 69O-143.004 - Ownership of More Than 10 Percent of an Equity Security

Current through Reg. 50, No. 138; July 16, 2024
In determining, for the purpose of section
				  625.75, F.S., of the Act,
				  whether a person is the beneficial owner, directly or indirectly, of more than
				  10 percent of any class of any equity security, such class shall be deemed to
				  consist of the total amount of such class outstanding, exclusive of any
				  securities of such class held by or for the account of the insurer or a
				  subsidiary of the insurer; except that for the purpose of determining
				  percentage ownership of voting trust certificates or certificates of deposit
				  for equity securities, the class of voting trust certificates or certificates
				  of deposit shall be deemed to consist of the amount of voting trust
				  certificates or certificates of deposit issuable with respect to the total
				  amount of outstanding equity securities of the class which may be deposited
				  under the voting trust agreement or deposit agreement in question, whether or
				  not all of such outstanding securities have been so deposited. For the purpose
				  of this section a person acting in good faith may rely on the information
				  contained in the latest Convention Form Statement filed with the Director with
				  respect to the amount of securities of a class outstanding or in the case of
				  voting trust certificates or certificates of deposit the amount thereof
				  issuable.
Rulemaking Authority 625.82 FS. Law Implemented 625.75
					 FS.
New 4-23-66, Repromulgated 12-24-74, Formerly 4-19.04,
					 4-19.004, 4-143.004.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69O - OIR - Insurance Regulation › Chapter 69O-143 - DOMESTIC INSURERS › Section 69O-143.005 - Disclaimer of Beneficial Ownership

Current through Reg. 50, No. 138; July 16, 2024
Any person filing a statement may expressly declare therein
				  that the filing of such statement shall not be construed as an admission that
				  such person is, for the purpose of the Act, the beneficial owner of any equity
				  securities covered by the statement.
Rulemaking Authority 625.82 FS. Law Implemented 625.75
					 FS.
New 4-23-66, Repromulgated 12-24-74, Formerly 4-19.05,
					 4-19.005, 4-143.005.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69O - OIR - Insurance Regulation › Chapter 69O-143 - DOMESTIC INSURERS › Section 69O-143.006 - Exemptions from Section 625.75 and 625.76 of the Act

Current through Reg. 50, No. 138; July 16, 2024
(1) During the period of 12 months following
				their appointment and qualification, securities held by the following persons
				shall be exempt from sections
				625.75 and
				625.76, F.S., of the Act:
(a) Executors or administrators of the estate
				of a decedent;
(b) Guardians or
				committees for an incompetent; and,
(c) Receivers, trustees in bankruptcy,
				assignees for the benefit of creditors, conservators, liquidating agents, and
				other similar persons duly authorized by law to administer the estate or assets
				of other persons.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69O - OIR - Insurance Regulation › Chapter 69O-143 - DOMESTIC INSURERS › Section 69O-143.007 - Exemption from the Act of Securities Purchased or Sold by Odd-lot Dealers

Current through Reg. 50, No. 138; July 16, 2024
Transactions that are the result of sales of securities by
				  odd-lot dealers are exempt from the provisions of sections
				  625.75 and
				  625.76, F.S.
Rulemaking Authority 624.308(1), 625.76 FS. Law Implemented
					 624.307(1), 625.765 FS.
New 4-23-66, Repromulgated 12-24-74, Formerly 4-19.07,
					 4-19.007, Amended 9-22-03, Formerly
					 4-143.007.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69O - OIR - Insurance Regulation › Chapter 69O-143 - DOMESTIC INSURERS › Section 69O-143.008 - Certain Transactions Subject to Section 625.75 of the Act

Current through Reg. 50, No. 138; July 16, 2024
The phrase "indirectly the beneficial owner" as used in
				  section 625.75, F.S., includes buying or
				  selling any option respecting an interest in a domestic
				  insurer.
Rulemaking Authority 624.308(1), 625.82 FS. Law Implemented
					 624.307(1), 625.75 FS.
New 4-23-66, Repromulgated 12-24-74, Formerly 4-19.08,
					 4-19.008, Amended 9-22-03, Formerly
					 4-143.008.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69O - OIR - Insurance Regulation › Chapter 69O-143 - DOMESTIC INSURERS › Section 69O-143.009 - Ownership of Securities Held in Trust

Current through Reg. 50, No. 138; July 16, 2024
(1) Beneficial ownership of a security for
				the purpose of section
				625.75, F.S., of the Act shall
				include:
(a) The ownership of securities as a
				trustee where either the trustee or members of his immediate family have a
				vested interest in the income or corpus of the trust;
(b) The ownership of a vested beneficial
				interest in a trust; and,
(c) The
				ownership of securities as a settlor of a trust in which the settlor has the
				power to revoke the trust without obtaining the consent of all the
				beneficiaries.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69O - OIR - Insurance Regulation › Chapter 69O-143 - DOMESTIC INSURERS › Section 69O-143.010 - Exemption for Small Transactions

Current through Reg. 50, No. 138; July 16, 2024
(1) Any
				acquisition of securities shall be exempt from section
				625.75, F.S., of the Act where:
(a) The person effecting the acquisition does
				not within six months thereafter effect any disposition, otherwise than by way
				of gift, of securities of the same class; and,
(b) The person effecting such acquisition
				does not participate in acquisitions or in dispositions of securities of the
				same class having a total market value in excess of $3,000 for any six months'
				period during which the acquisition occurs.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69O - OIR - Insurance Regulation › Chapter 69O-143 - DOMESTIC INSURERS › Section 69O-143.011 - Exemption from Section 625.76 of the Act of Transactions Which Need Not Be Reported under Section 625.75

Current through Reg. 50, No. 138; July 16, 2024
Any transaction which has been or shall be exempted from the
				  requirements of section
				  625.75, F.S., of the Act shall,
				  insofar as it is otherwise subject to the provisions of section
				  625.76, F.S., be likewise
				  exempted from section
				  625.76, F.S.
Rulemaking Authority 625.82 FS. Law Implemented 625.76
					 FS.
New 4-23-66, Repromulgated 12-24-74, Formerly 4-19.11,
					 4-19.011, 4-143.011.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69O - OIR - Insurance Regulation › Chapter 69O-143 - DOMESTIC INSURERS › Section 69O-143.012 - Exemption from Section 625.76 of Certain Transactions Effected in Connection with a Distribution

Current through Reg. 50, No. 138; July 16, 2024
(1) Any transaction
				of purchase and sale, or sale and purchase, of a security which is effected in
				connection with the distribution of a substantial block of securities shall be
				exempt from the provisions of section
				625.76, F.S., of the Act, to the
				extent specified in this section as not comprehended within the purpose of said
				section of the Act, upon the following conditions:
(a) The person effecting the transaction is
				engaged in the business of distributing securities and is participating in good
				faith, in the ordinary course of such business, in the distribution of such
				block of securities;
(b) The
				security involved in the transaction is:
1. A
				part of such block of securities and is acquired by the person effecting the
				transaction, with a view to the distribution thereof, from the insurer or other
				person on whose behalf such securities are being distributed or from a person
				who is participating in good faith in the distribution of such block of
				securities; or
2. A security
				purchased in good faith by or for the account of the person effecting the
				transaction for the purpose of stabilizing the market price of securities of
				the class being distributed or to cover an over-allotment or other short
				position created in connection with such distribution; and,
(c) Other persons not within the purview of
				section 625.76, F.S., of the Act, are
				participating in the distribution of such block of securities on terms at least
				as favorable as those on which such person is participating and to an extent at
				least equal to the aggregate participation of all persons exempted from the
				provisions of section
				625.76, F.S., of the Act, by
				this section. However, the performance of the functions of manager of a
				distributing group and the receipt of a bona fide payment for performing such
				functions shall not preclude an exemption which would otherwise be available
				under this section.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69O - OIR - Insurance Regulation › Chapter 69O-143 - DOMESTIC INSURERS › Section 69O-143.013 - Exemption from Section 625.76 of the Act of Acquisitions of Shares of Stock and Stock Options under Certain Stock Bonus, Stock Option or Similar Plans

Current through Reg. 50, No. 138; July 16, 2024
Any acquisition of shares of stock (other than stock acquired
				  upon the exercise of an option, warrant or right) pursuant to a stock bonus,
				  profit sharing, retirement, incentive, thrift, savings or similar plan, or any
				  acquisition of a qualified or a restricted stock option pursuant to a qualified
				  or a restricted stock option plan, or a stock option pursuant to an employee
				  stock purchase plan, by a director or officer of an insurer issuing such stock
				  or stock option shall be exempt from the operation of section
				  625.76, F.S., of the Act, if the
				  plan meets the following conditions:
(1) The plan has been approved directly or
				indirectly;
(a) By the affirmative votes of
				the holders of a majority of the securities of such insured present, or
				represented, and entitled to vote at a meeting duly held in accordance with the
				applicable laws of the State of Florida; or
(b) By the written consent of the holders of
				a majority of the securities of such insurer entitled to vote: provided,
				however, that if such vote or written consent was not solicited substantially
				in accordance with the proxy rules and regulations prescribed by the Office in
				effect at the time of such vote or written consent, the insurer shall furnish
				in writing to the holders of record of the securities entitled to vote for the
				plan substantially the same information concerning the plan which would be
				required by any such rules and regulations so prescribed and in effect at the
				time such information is furnished, if proxies to be voted with respect to the
				approval or disapproval of the plan were then being solicited, on or prior to
				the date of the first annual meeting of security holders held subsequent to the
				later of;
1. The date the Act first applies to
				such insurer; or
2. The acquisition
				of an equity security for which exemption is claimed.
Such written information may be furnished by mail to the last
				  known address of the security holders of record within 30 days prior to the
				  date of mailing. Four copies of such written information shall be filed with,
				  the Office electronically at http://www.floir.com/iportal not later than the
				  date on which it is first sent or given to security holders of the insurer. For
				  the purposes of this paragraph, the term "insurer" includes a predecessor
				  corporation if the plan or obligations to participate thereunder were assumed
				  by the insurer in connection with the
				  succession.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69O - OIR - Insurance Regulation › Chapter 69O-143 - DOMESTIC INSURERS › Section 69O-143.014 - Exemption from Section 625.76 of the Act of Certain Transactions in Which Securities Are Received by Redeeming Other Securities

Current through Reg. 50, No. 138; July 16, 2024
Any acquisition of an equity security (other than a
				  convertible security or right to purchase a security) by a director or officer
				  of the insurer issuing such security shall be exempt from the operation of
				  section 625.76, F.S., of the Act, upon
				  condition that:
(1) The equity
				security is acquired by way of redemption of another security of an insurer
				substantially all of whose assets other than cash (or Government bonds) consist
				of securities of the insurer issuing the equity security so acquired, and
				which:
(a) Represented substantially and in
				practical effect a stated or readily ascertainable amount of such equity
				security;
(b) Had a value which was
				substantially determined by the value of such equity security; and,
(c) Conferred upon the holder the right to
				receive such equity security without the payment of any consideration other
				than the security redeemed;
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69O - OIR - Insurance Regulation › Chapter 69O-143 - DOMESTIC INSURERS › Section 69O-143.015 - Exemption of Long Term Profits Incident to Sales Within 6 Months of the Exercise of an Option

Current through Reg. 50, No. 138; July 16, 2024
Transactions that are not subject to section
				  628.461, F.S., and that are the
				  result of the following are exempt from sections
				  625.75 and
				  625.76, F.S.:
(1) Acquisitions of shares of stock and stock
				options under a stock bonus plan, stock option plan, or similar plan securities
				acquired by redeeming other securities by an insurer;
(2) Consolidations or mergers of insurers
				that hold over 85 percent of the companies being merged or
				consolidated;
(3) Acquisitions or
				dispositions of an equity security involved in the deposit of the security
				under, or the withdrawal of the security from, a voting trust or deposit
				agreement; or
(4) Conversions of an
				insurer's equity securities into another equity security of the same
				insurer.
Rulemaking Authority 624.308(1), 625.82 FS. Law Implemented
					 624.307(2), 625.76 FS.
New 4-23-66, Repromulgated 12-24-74, Formerly 4-19.15,
					 4-19.015, Amended 9-22-03, Formerly
					 4-143.015.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69O - OIR - Insurance Regulation › Chapter 69O-143 - DOMESTIC INSURERS › Section 69O-143.016 - Exemption from Section 625.76 of the Act of Certain Acquisitions and Dispositions of Securities Pursuant to Merger or Consolidations

Current through Reg. 50, No. 138; July 16, 2024
(1) The following transactions shall be
				exempt from the provisions of section
				625.76, F.S., of the Act, as not
				comprehended within the purpose of said section:
(a) The acquisition of a security of an
				insurer, pursuant to a merger or consolidation, in exchange for a security of a
				company which, prior to said merger or consolidation, owned 85 percent or more
				of the equity securities of all other companies involved in the merger or
				consolidation except, in the case of consolidation, the resulting
				company;
(b) The disposition of a
				security, pursuant to a merger or consolidation of an insurer which, prior to
				said merger or consolidation, owned 85 percent or more of the equity securities
				of all other companies involved in the merger or consolidation except, in the
				case of consolidation, the resulting company;
(c) The acquisition of a security of an
				insurer, pursuant to a merger or consolidation, in exchange for a security of a
				company which, prior to said merger or consolidation, held over 85 percent of
				the combined assets of all the companies undergoing merger or consolidation,
				computed according to their book values prior to the merger or consolidation as
				determined by reference to their most recent available financial statements for
				a 12-month period prior to the merger or consolidation;
(d) The disposition of a security, pursuant
				to a merger or consolidation, of an insurer which, prior to said merger or
				consolidation, held over 85 percent of the combined assets of all the companies
				undergoing merger or consolidation, computed according to their book values
				prior to merger or consolidation, as determined by reference to their most
				recent available financial statements for a 12-month period prior to the merger
				or consolidation.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69O - OIR - Insurance Regulation › Chapter 69O-143 - DOMESTIC INSURERS › Section 69O-143.017 - Exemption from Section 625.76 of Certain Securities Received upon Surrender of Similar Equity Securities

Current through Reg. 50, No. 138; July 16, 2024
Any acquisition or disposition of an equity security involved
				  in the deposit of such security under, or the withdrawal of such security from,
				  a voting trust or deposit agreement, and the acquisition or disposition in
				  connection therewith of the certificate representing such security, shall be
				  exempt from the operation of section
				  625.76, F.S., of the Act, if
				  substantially all of the assets held under the voting trust or deposit
				  agreement immediately after the deposit or immediately prior to the withdrawal,
				  as the case may be, consisted of equity securities of the same class as the
				  security deposited or withdrawn provided, however, that this rule shall not
				  apply to the extent that there shall have been either:
(1) A purchase of an equity security of the
				class deposited and a sale of any certificate representing an equity security
				of such class; or
(2) A sale of an
				equity security of the class deposited and a purchase of any certificate
				representing an equity security of such class (otherwise than in a transaction
				involved in such deposit or withdrawal or in a transaction exempted by any
				other provisions of section
				625.76, F.S., of the Act) within
				a period of less than six months which includes the date of the deposit or
				withdrawal.
(3) The surrender and
				issuance are made pursuant to provisions of a certificate of incorporation
				which require that the shares issued upon such surrender shall be registered
				upon issuance in the name of a person or persons other than the holder of the
				shares surrendered and may be required to be issued as of right only in
				connection with the public offering, sale and distribution of such shares and
				the immediate sale by such holder of such shares for that purpose, or in
				connection with a gift of such shares.
(4) Neither the shares so surrendered nor any
				shares of the same class, nor other shares of the same class as those issued
				upon such surrender, have been or are purchased (otherwise than in a
				transaction exempted by this section), by the person surrendering such shares,
				within six months before or after such surrender or
				issuance.
Rulemaking Authority 625.82 FS. Law Implemented 625.76
					 FS.
New 4-23-66, Amended 1-22-68, Repromulgated 12-24-74,
					 Formerly 4-19.17, 4-19.017, 4-143.017.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69O - OIR - Insurance Regulation › Chapter 69O-143 - DOMESTIC INSURERS › Section 69O-143.018 - Exemption from Section 625.76 of the Act of Certain Transactions Involving an Exchange of Similar Securities

Current through Reg. 50, No. 138; July 16, 2024
(1) Any
				acquisition or disposition of an equity security involved in the conversion of
				an equity security which, by its terms or pursuant to the terms of the
				insurer's charger or other governing instruments, is convertible immediately or
				after a stated period of time into another equity security of the same insurer,
				shall be exempt from the operation of section
				625.76, F.S., of the Act;
				provided, however, that this rule shall not apply to the extent that there
				shall have been either:
(a) A purchase of any
				equity security of the class convertible (including any acquisition of or
				change in a conversion privilege) and a sale of any equity security of the
				class issuable upon conversion; or
(b) A sale of any equity security of the
				class convertible and any purchase of any equity security issuable upon
				conversion (otherwise than in a transaction involved in such conversion or in a
				transaction exempted by any other provisions of section
				625.76, F.S., of the Act) within
				a period of less than six months which includes the date of
				conversion.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69O - OIR - Insurance Regulation › Chapter 69O-143 - DOMESTIC INSURERS › Section 69O-143.019 - Exemption of Certain Securities from Section 625.78 of the Act

Current through Reg. 50, No. 138; July 16, 2024
Any security shall be exempt from the operation of section
				  625.78, F.S., of the Act, to the
				  extent necessary to render lawful under such section the execution by a broker
				  of an order for an account in which he has no direct or indirect
				  interest.
Rulemaking Authority 625.82 FS. Law Implemented 625.78
					 FS.
New 4-23-66, Repromulgated 12-24-74, Formerly 4-19.19,
					 4-19.019, 4-143.019.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69O - OIR - Insurance Regulation › Chapter 69O-143 - DOMESTIC INSURERS › Section 69O-143.020 - Exemption from Section 625.78 of the Act of Certain Transactions Effected in Connection with a Distribution

Current through Reg. 50, No. 138; July 16, 2024
Any security shall be exempt from the operation of section
				  625.78, F.S., of the Act, to the
				  extent necessary to render lawful under such section any sale made by or on
				  behalf of a dealer in connection with a distribution of a substantial block of
				  securities, upon the following conditions:
(1) The sale is represented by an
				over-allotment in which the dealer is participating as a member of an
				underwriting group, or the dealer or a person acting on his behalf intends in
				good faith to offset such sale with a security to be acquired by or on behalf
				of the dealer as a participant in an underwriting, selling or soliciting-dealer
				group of which the dealer is a member at the time of the sale, whether or not
				the security to be so acquired is subject to a prior offering to existing
				security holders or some other class of persons; and,
(2) Other persons not within the purview of
				section 625.78, F.S., of the Act, are
				participating in the distribution of such block of securities on terms at least
				as favorable as those on which such dealer is participating and to an extent at
				least equal to the aggregate participation of all persons exempted from the
				provisions of section
				625.78, F.S., of the Act, by
				this section. However, the performance of the functions of manager of a
				distributing group and the receipt of a bona fide payment for performing such
				functions shall not preclude an exemption which would otherwise be available
				under this section.
Rulemaking Authority 625.82 FS. Law Implemented 625.78
					 FS.
New 4-23-66, Repromulgated 12-24-74, Formerly 4-19.20,
					 4-19.020, 4-143.020.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69O - OIR - Insurance Regulation › Chapter 69O-143 - DOMESTIC INSURERS › Section 69O-143.021 - Exemption from Section 625.78 of the Act of Sales of Securities to Be Acquired

Current through Reg. 50, No. 138; July 16, 2024
(1) Whenever any
				person is entitled, as an incident to his ownership of an issued security and
				without the payment of consideration, to receive another security "when issued"
				or "when distributed," the security to be acquired shall be exempt from the
				operation of section 625.78, F.S., provided that:
(a) The sale is made subject to the same
				conditions as those attaching to the right of acquisition; and,
(b) Such person exercises reasonable
				diligence to deliver such security to the purchaser promptly after his right of
				acquisition matures; and,
(c) Such
				person reports the sale on the appropriate form for reporting transactions by
				persons subject to section
				625.75, F.S., of the
				Act.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69O - OIR - Insurance Regulation › Chapter 69O-143 - DOMESTIC INSURERS › Section 69O-143.022 - Arbitrage Transactions under Section 625.79 of the Act

Current through Reg. 50, No. 138; July 16, 2024
It shall be unlawful for any director or officer of an
				  insurer to effect any foreign or domestic arbitrage transaction in any equity
				  security of such insurer, unless he shall include such transaction in the
				  statements required by section
				  625.75, F.S., of the Act, and
				  shall account to such insurer for the profits arising from such transaction, as
				  provided in section 625.76, F.S., thereof. The
				  provisions of section
				  625.78, F.S., shall not apply to
				  such arbitrage transactions. The provisions of the Act shall not apply to any
				  bona fide foreign or domestic arbitrage transaction insofar as it is effected
				  by any person other than such director or officer of the
				  insurer.
Rulemaking Authority 625.82 FS. Law Implemented 625.79
					 FS.
New 4-23-66, Repromulgated 12-24-74, Formerly 4-19.22,
					 4-19.022, 4-143.022.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69O - OIR - Insurance Regulation › Chapter 69O-143 - DOMESTIC INSURERS › Section 69O-143.026 - Application and Scope of Chapter

Current through Reg. 50, No. 138; July 16, 2024
The following rules and regulations shall be applicable to
				  and govern all domestic stock insurers having one hundred or more stockholders;
				  provided, however, that said rules shall not apply to any insurer if
				  ninety-five percent or more of its stock is owned or controlled by a parent or
				  an affiliated insurer and the remaining shares are held by less than five
				  hundred stockholders. A domestic stock insurer which files with the Securities
				  and Exchange Commission forms of proxies, consents and authorizations complying
				  with the requirements of the Securities and Exchange Act of 1934, the
				  Securities and Exchange Acts Amendments of 1964, and Regulation X-14 of the
				  Securities and Exchange Commission promulgated thereunder, shall be exempt from
				  the provisions of said rules.
Rulemaking Authority 624.308 FS. Law Implemented
					 624.307(1), 628.152 FS.
New 3-18-65, Repromulgated 12-24-74, Formerly 4-17.01,
					 4-17.001, 4-143.026.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69O - OIR - Insurance Regulation › Chapter 69O-143 - DOMESTIC INSURERS › Section 69O-143.027 - Proxies, Consents and Authorizations

Current through Reg. 50, No. 138; July 16, 2024
No domestic stock insurer, or any director, officer or
				  employee of such insurer subject to rule
				  69O-143.026, F.A.C., hereof, or
				  any other person, shall solicit, or permit the use of his name to solicit, by
				  mail or otherwise, any proxy, consent or authorization in respect of any stock
				  of such insurer in contravention of this chapter, and without first having
				  filed with the Director, in writing, the information requested in rules
				  69O-143.036 and
				  69O-143.037, F.A.C.,
				  hereof.
Rulemaking Authority 624.308 FS. Law Implemented
					 624.307(1), 628.152 FS.
New 3-18-65, Repromulgated 12-24-74, Formerly 4-17.02,
					 4-17.002, 4-143.027.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69O - OIR - Insurance Regulation › Chapter 69O-143 - DOMESTIC INSURERS › Section 69O-143.028 - Disclosure of Equivalent Information

Current through Reg. 50, No. 138; July 16, 2024
Unless proxies, consents or authorizations in respect of any
				  class of stock of a domestic insurer subject to rule
				  69O-143.026, F.A.C., are
				  solicited by or on behalf of the management of such insurer from the holders of
				  record of stock of such insurer in accordance with this chapter prior to any
				  annual or other meeting, such insurer shall, in accordance with this chapter
				  and such further rules and regulations as the Director may adopt, file with the
				  Director and transmit to all stockholders of record information substantially
				  equivalent to the information which would be required to be transmitted if a
				  solicitation were made. Such insurer shall transmit a written information
				  statement containing the information specified in subsection
				  69O-143.030(4),
				  F.A.C., to every stockholder who is entitled to vote in regard to any matter to
				  be acted upon at the meeting and from whom a proxy is not solicited on behalf
				  of the management of the insurer; provided, that in the case of a class of
				  stock in unregistered or bearer form such statement need be transmitted only to
				  those stockholders whose names and addresses are known to the
				  insurer.
Rulemaking Authority 624.308 FS. Law Implemented
					 624.307(1), 628.152 FS.
New 3-18-65, Amended 1-22-68, Repromulgated 12-24-74,
					 Formerly 4-17.03, 4-17.003, 4-143.028.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69O - OIR - Insurance Regulation › Chapter 69O-143 - DOMESTIC INSURERS › Section 69O-143.029 - Definitions

Current through Reg. 50, No. 138; July 16, 2024
(1) The definitions and instructions set out
				in Schedule SIS, as promulgated by the National Association of Insurance
				Commissioners, shall be applicable for the purposes of this chapter.
(2) The terms "solicit" and "solicitation"
				for purposes of this chapter shall include:
(a) Any request for a proxy, whether or not
				accompanied by or included in a form of proxy; or
(b) Any request to execute or not to execute,
				or to revoke, a proxy; or
(c) The
				furnishing of a proxy or other communication to stockholders under
				circumstances reasonably calculated to result in the procurement, withholding
				or revocation of a proxy.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69O - OIR - Insurance Regulation › Chapter 69O-143 - DOMESTIC INSURERS › Section 69O-143.030 - Information to Be Furnished to Stockholders

Current through Reg. 50, No. 138; July 16, 2024
(1) No solicitation subject to this chapter
				shall be made unless each person solicited is concurrently furnished or has
				previously been furnished with a written proxy statement containing the
				information specified in rule
				69O-143.036, F.A.C.
(2) If the solicitation is made on behalf of
				the management of the insurer and relates to an annual meeting of stockholders
				at which directors are to be elected, each proxy statement furnished pursuant
				to subsection (3), hereof, shall be accompanied or preceded by an annual report
				(in preliminary or final form) to such stockholders containing such financial
				statements for the last fiscal year as are referred to in Schedule SIS under
				the heading "Financial Reporting to Stockholders." Subject to the foregoing
				requirements with respect to financial statements, the annual report to
				stockholders may be in any form deemed suitable by the management.
(3) Two copies of each report sent to the
				stockholders pursuant to this section shall be filed electronically with the
				Office at http://www.floir.com/iportal not later than the date on which such
				report is first sent or given to stockholders or the date on which preliminary
				copies of solicitation material are filed with the Office, pursuant to
				subsection (1), of rule
				69O-143.032, F.A.C., of this
				rule, whichever date is later.
(4)
				If no solicitation is being made by management of the insurer with respect to
				any annual or other meeting, such insurer shall mail to every stockholder of
				record at least twenty days prior to the meeting date, an information statement
				as required in rule 69O-143.028, F.A.C., containing
				the information called for by subsections (2) and (5) through (15), of rule
				69O-143.036, F.A.C., which would
				be applicable to any matter to be acted upon at the meeting if proxies were to
				be solicited in connection with the meeting. If such information statement
				relates to an annual meeting at which directors are to be elected, it shall be
				accompanied by an annual report to such stockholders in the form provided in
				subsection (2) of this rule.
Rulemaking Authority 624.308 FS. Law Implemented
					 624.307(1), 624.424, 628.152 FS.
New 3-18-65, Amended 1-22-68, Repromulgated 12-24-74,
					 Formerly 4-17.05, 4-17.005, 4-143.030, Amended
					 7-30-17.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69O - OIR - Insurance Regulation › Chapter 69O-143 - DOMESTIC INSURERS › Section 69O-143.031 - Requirements as to Proxy and Information Statement

Current through Reg. 50, No. 138; July 16, 2024
(1) The form of proxy shall:
(a) Indicate in boldface type whether or not
				the proxy is solicited on behalf of the management;
(b) Provide a specifically designated blank
				space for dating the proxy; and,
(c) Identify clearly and impartially each
				matter or group of related matters intended to be acted upon, whether proposed
				by the management, or stockholders. No reference need be made to proposals as
				to which discretionary authority is conferred pursuant to subsection (3)
				hereof.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69O - OIR - Insurance Regulation › Chapter 69O-143 - DOMESTIC INSURERS › Section 69O-143.032 - Material Required to Be Filed

Current through Reg. 50, No. 138; July 16, 2024
(1) Two
				preliminary copies of the information statement or the proxy statement and form
				of proxy and any other soliciting material to be furnished to stockholders
				concurrently therewith shall be filed with the Office at least fifteen days
				prior to the date definitive copies of such material are first sent or given to
				stockholders, or such shorter period prior to that date as the Office may
				authorize upon a showing of good cause therefor.
(2) Two preliminary copies of any additional
				soliciting material relating to the same meeting or subject matter to be
				furnished to stockholders subsequent to the proxy statements shall be filed
				with the Office at least two days (exclusive of Saturdays, Sundays or holidays)
				prior to the date copies of this material are first sent or given to
				stockholders or a shorter period prior to such date as the Office may authorize
				upon a showing of good cause therefor.
(3) Two definitive copies of the information
				statement or the proxy statement, form of proxy and all other soliciting
				material, in the form in which this material is furnished to stockholders,
				shall be filed with the Office not later than the date such material is first
				sent or given to the stockholders.
(4) Where any information statement or proxy
				statement, form of proxy or other material filed pursuant to this chapter is
				amended or revised, two of the copies shall be marked to clearly show such
				changes.
(5) Copies of replies to
				inquiries from stockholders requesting further information and copies of
				communications which do no more than request that forms of proxy theretofore
				solicited be signed and returned need not be filed pursuant to this
				section.
(6) Notwithstanding the
				provisions of subsections (1) and (2), hereof and of subsection (5), of rule
				69O-143.035, F.A.C., copies of
				soliciting material in the form of speeches, press releases and radio or
				television scripts may, but need not, be filed with the Office prior to use or
				publication. Definitive copies, however, shall be filed with the Office as
				requested by subsection (3), hereof, not later than the date such material is
				used or published. The provisions of subsections (1) and (2), hereof, and
				subsection (5) of rule
				69O-143.035, F.A.C., shall
				apply, however, to any reprints or reproductions of all or any part of such
				material. All filings made pursuant to this rule shall be submitted
				electronically at http://www.floir.com/iportal.
Rulemaking Authority 624.308 FS. Law Implemented
					 624.307(1), 624.424, 628.152 FS.
New 3-18-65, Repromulgated 12-24-74, Formerly 4-17.07,
					 4-17.00, 4-143.032, Amended 7-30-17.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69O - OIR - Insurance Regulation › Chapter 69O-143 - DOMESTIC INSURERS › Section 69O-143.033 - False or Misleading Statements

Current through Reg. 50, No. 138; July 16, 2024
No proxy statement, form of proxy, notice of meeting,
				  information statement, or other communication, written or oral, subject to this
				  chapter, shall contain any statement which at the time and in the light of the
				  circumstances under which it is made, is false or misleading with respect to
				  any material fact, or which omits to state any material fact necessary in order
				  to make the statements therein not false or misleading or necessary to correct
				  any statement in any earlier communication with respect to the same meeting or
				  subject matter which has become false or misleading.
Rulemaking Authority 624.308 FS. Law Implemented
					 624.307(1), 628.152 FS.
New 3-18-65, Amended 1-22-68, Repromulgated 12-24-74,
					 Formerly 4-17.08, 4-17.008, 4-143.033.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69O - OIR - Insurance Regulation › Chapter 69O-143 - DOMESTIC INSURERS › Section 69O-143.034 - Prohibition of Certain Solicitations

Current through Reg. 50, No. 138; July 16, 2024
No person making a solicitation which is subject to this
				  chapter shall solicit any undated or postdated proxy or any proxy which
				  provides that it shall be deemed to be dated as of any date subsequent to the
				  date on which it is signed by the stockholder.
Rulemaking Authority 624.308 FS. Law Implemented
					 624.307(1), 628.152 FS.
New 3-18-65, Amended 1-22-68, Repromulgated 12-24-74,
					 Formerly 4-17.09, 4-17.009, 4-143.034.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69O - OIR - Insurance Regulation › Chapter 69O-143 - DOMESTIC INSURERS › Section 69O-143.035 - Special Provisions Applicable to Election Contests

Current through Reg. 50, No. 138; July 16, 2024
(1) Applicability. This section shall apply
				to any solicitation subject to this chapter by any person or group for the
				purpose of opposing a solicitation subject to this chapter by any other person
				or group with respect to the election or removal of directors at any annual or
				special meeting of stockholders.
(2) Participant or Participant in a
				Solicitation.
(a) For purposes of this section
				the terms "participant" and "participant in a solicitation" include:
1. The insurer;
2. Any director of the insurer, and any
				nominee for whose election as a director proxies are solicited;
3. Any other person, acting alone or with one
				or more other persons, committees or groups, in organizing, directing or
				financing the solicitation.