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Current as of January 01, 2025 | Updated by Findlaw Staff
(1) The insurer shall duly register in the name of the Chief Financial Officer all securities being deposited with the department under this code which are not negotiable by delivery.
(2) In the case of securities or assets held under custodial arrangements pursuant to s. 625.55, the custodian's receipt therefor shall be delivered to the department in trust if negotiable, or assigned to it so that legal title to such securities or assets is vested in the department.
(3) Upon release to the insurer, or other person entitled thereto, of any such security or asset, the department shall reassign, transfer, or reconvey the same to such insurer or person.
Cite this article: FindLaw.com - Florida Statutes Title XXXVII. Insurance § 625.56. Registration, conveyance of assets or securities - last updated January 01, 2025 | https://codes.findlaw.com/fl/title-xxxvii-insurance/fl-st-sect-625-56/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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