The “”subject of insurance”” shall include, but not be limited to, an individual, corporation, partnership, association, or other firm, including developers, contractors or any individual, partnership, corporation or firm engaged in the construction of homes, financing the purchase of real property or lending money upon the security of a mortgage thereon, or engaged in the purchasing or selling of real property for speculation. The 10% limitation in Florida Statutes § 635.031(1), shall apply as to the “”subject of insurance”” and not to a specific parcel of real property.
Rulemaking Authority 635.081 FS. Law Implemented 635.031(1) FS. History-New 12-24-74, Formerly 4-2.02, 4-2.002, 4-185.002.

Terms Used In Florida Regulations 69O-185.002

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.