Florida Statutes 627.945 – Compulsory association
Current as of: 2023 | Check for updates
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Terms Used In Florida Statutes 627.945
- Risk retention group: means any corporation or other limited liability association:(a) Whose primary activity consists of assuming and spreading all or any portion of the liability exposure of its group members. See Florida Statutes 627.942
- State: means any state of the United States or the District of Columbia. See Florida Statutes 627.942
(1) No risk retention group shall be permitted to join or contribute financially to any insurance insolvency guaranty fund, or similar mechanism, in this state, nor shall any risk retention group, or its insured, receive any benefit from any such fund for claims arising out of the operations of the risk retention group.