631.061 Grounds for liquidation. - Florida Statutes

631.061 Grounds for liquidation.

The department may apply to the court for an order appointing it as receiver (if its appointment as receiver is not then in effect) and directing it to liquidate the business of a domestic insurer or of the United States branch of an alien insurer having trusteed assets in this state, regardless of whether or not there has been a prior order directing it to rehabilitate such insurer, upon any of the grounds specified in s. 631.051, or if such insurer:

   (1) Is or is about to become insolvent.

   (2) Is an insolvent insurer and has commenced or is attempting to commence voluntary liquidation or dissolution except under this code.

   (3) Has not completed its organization and obtained a certificate of authority as an insurer within the time allowed therefor under any applicable law.

History. s. 722, ch. 59-205; ss. 13, 35, ch. 69-106; s. 4, ch. 70-27; s. 809(1st), ch. 82-243; s. 5, ch. 83-38; ss. 184, 187, 188, ch. 91-108; s. 4, ch. 91-429.