Florida Statutes 628.731 – Application of holding company statutes and regulations
Current as of: 2023 | Check for updates
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Terms Used In Florida Statutes 628.731
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Mutual insurance holding company: means an incorporated entity without permanent capital stock which is organized under this part and whose members are determined in accordance with this part. See Florida Statutes 628.703
- Subsidiary insurance company: means :(a) A stock insurance company, of which the majority of the voting shares of the capital stock are at all times owned by a mutual insurance holding company. See Florida Statutes 628.703
- writing: includes handwriting, printing, typewriting, and all other methods and means of forming letters and characters upon paper, stone, wood, or other materials. See Florida Statutes 1.01
Each reorganized subsidiary insurance company shall be subject to the applicable laws and rules of this state relating to insurance holding company systems. A mutual insurance holding company shall not be subject to provisions of this chapter or rules adopted thereunder with respect to the writing of insurance or required capital or surplus. A mutual insurance holding company system shall be considered an insurance holding company system but shall not require separate approval under this chapter for an acquisition of controlling stock, ownership interest, assets, or control, or for a merger or consolidation, share exchange, organization, or reorganization of insurance companies, or other transaction with respect to any action approved pursuant to the provisions of this part.