2010 Florida Code
TITLE XXXVII INSURANCE
Chapter 628 STOCK AND MUTUAL INSURERS; HOLDING COMPANIES
PART V STOCK AND MUTUAL INSURERS: ORGANIZATION AND CORPORATEPROCEDURES(ss. 628.011-628.535)
628.481 Bulk reinsurance; stock insurers.
628.481 Bulk reinsurance; stock insurers.
(1) A domestic stock insurer may reinsure all or substantially all of its insurance in force or a major class thereof, with another insurer by an agreement of bulk reinsurance; but no such agreement shall become effective unless filed with the office and approved by it in writing.
(2) The office shall approve such agreement unless it finds that it is inequitable to the stockholders of the domestic insurer or it would substantially reduce the protection or service to its policyholders.
History. s. 668, ch. 59-205; ss. 13, 35, ch. 69-106; s. 3, ch. 76-168; s. 1, ch. 77-457; s. 21, ch. 78-95; ss. 2, 3, ch. 81-318; ss. 665, 809(1st), ch. 82-243; ss. 187, 188, ch. 91-108; s. 4, ch. 91-429; s. 1286, ch. 2003-261.
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