Florida Administrative Code

(1) During the period of 12 months following their appointment and qualification, securities held by the following persons shall be exempt from Sections 625.75 and 625.76, F.S., of the Act: (a) Executors or administrators of the estate of a decedent; (b) Guardians or committees f…

Transactions that are the result of sales of securities by odd-lot dealers are exempt from the provisions of Sections 625.75 and 625.76, F.S. Rulemaking Authority 624.308(1), 625.76 FS. Law Implemented 624.307(1), 625.765 FS. History-New 4-23-66, Repromulgated 12-24-74, Formerly …

The phrase "indirectly the beneficial owner" as used in Section 625.75, F.S., includes buying or selling any option respecting an interest in a domestic insurer. Rulemaking Authority 624.308(1), 625.82 FS. Law Implemented 624.307(1), 625.75 FS. History-New 4-23-66, Repromulgated …

(1) Beneficial ownership of a security for the purpose of Section 625.75, F.S., of the Act shall include: (a) The ownership of securities as a trustee where either the trustee or members of his immediate family have a vested interest in the income or corpus of the trust; (b) The …

(1) Any acquisition of securities shall be exempt from Section 625.75, F.S., of the Act where: (a) The person effecting the acquisition does not within six months thereafter effect any disposition, otherwise than by way of gift, of securities of the same class; and, (b) The perso…

Any transaction which has been or shall be exempted from the requirements of Section 625.75, F.S., of the Act shall, insofar as it is otherwise subject to the provisions of Section 625.76, F.S., be likewise exempted from Section 625.76, F.S. Rulemaking Authority 625.82 FS. Law Im…

(1) Any transaction of purchase and sale, or sale and purchase, of a security which is effected in connection with the distribution of a substantial block of securities shall be exempt from the provisions of Section 625.76, F.S., of the Act, to the extent specified in this sectio…

Any acquisition of shares of stock (other than stock acquired upon the exercise of an option, warrant or right) pursuant to a stock bonus, profit sharing, retirement, incentive, thrift, savings or similar plan, or any acquisition of a qualified or a restricted stock option pursua…

Any acquisition of an equity security (other than a convertible security or right to purchase a security) by a director or officer of the insurer issuing such security shall be exempt from the operation of Section 625.76, F.S., of the Act, upon condition that: (1) The equity secu…

Transactions that are not subject to Section 628.461, F.S., and that are the result of the following are exempt from Sections 625.75 and 625.76, F.S.: (1) Acquisitions of shares of stock and stock options under a stock bonus plan, stock option plan, or similar plan securities acq…

(1) The following transactions shall be exempt from the provisions of Section 625.76, F.S., of the Act, as not comprehended within the purpose of said section: (a) The acquisition of a security of an insurer, pursuant to a merger or consolidation, in exchange for a security of a …

Any acquisition or disposition of an equity security involved in the deposit of such security under, or the withdrawal of such security from, a voting trust or deposit agreement, and the acquisition or disposition in connection therewith of the certificate representing such secur…

(1) Any acquisition or disposition of an equity security involved in the conversion of an equity security which, by its terms or pursuant to the terms of the insurer's charger or other governing instruments, is convertible immediately or after a stated period of time into another…

Any security shall be exempt from the operation of Section 625.78, F.S., of the Act, to the extent necessary to render lawful under such section the execution by a broker of an order for an account in which he has no direct or indirect interest. Rulemaking Authority 625.82 FS. La…

Any security shall be exempt from the operation of Section 625.78, F.S., of the Act, to the extent necessary to render lawful under such section any sale made by or on behalf of a dealer in connection with a distribution of a substantial block of securities, upon the following co…

(1) Whenever any person is entitled, as an incident to his ownership of an issued security and without the payment of consideration, to receive another security "when issued" or "when distributed," the security to be acquired shall be exempt from the operation of Section 625.78, …

It shall be unlawful for any director or officer of an insurer to effect any foreign or domestic arbitrage transaction in any equity security of such insurer, unless he shall include such transaction in the statements required by Section 625.75, F.S., of the Act, and shall accoun…

The following rules and regulations shall be applicable to and govern all domestic stock insurers having one hundred or more stockholders; provided, however, that said rules shall not apply to any insurer if ninety-five percent or more of its stock is owned or controlled by a par…

No domestic stock insurer, or any director, officer or employee of such insurer subject to Rule 69O-143.026, F.A.C., hereof, or any other person, shall solicit, or permit the use of his name to solicit, by mail or otherwise, any proxy, consent or authorization in respect of any s…

Unless proxies, consents or authorizations in respect of any class of stock of a domestic insurer subject to Rule 69O-143.026, F.A.C., are solicited by or on behalf of the management of such insurer from the holders of record of stock of such insurer in accordance with this chapt…

(1) The definitions and instructions set out in Schedule SIS, as promulgated by the National Association of Insurance Commissioners, shall be applicable for the purposes of this chapter. (2) The terms "solicit" and "solicitation" for purposes of this chapter shall include: (a) An…

(1) No solicitation subject to this chapter shall be made unless each person solicited is concurrently furnished or has previously been furnished with a written proxy statement containing the information specified in Rule 69O-143.036, F.A.C. (2) If the solicitation is made on beh…

(1) The form of proxy shall: (a) Indicate in boldface type whether or not the proxy is solicited on behalf of the management; (b) Provide a specifically designated blank space for dating the proxy; and, (c) Identify clearly and impartially each matter or group of related matters …

(1) Two preliminary copies of the information statement or the proxy statement and form of proxy and any other soliciting material to be furnished to stockholders concurrently therewith shall be filed with the Office at least fifteen days prior to the date definitive copies of su…

No proxy statement, form of proxy, notice of meeting, information statement, or other communication, written or oral, subject to this chapter, shall contain any statement which at the time and in the light of the circumstances under which it is made, is false or misleading with r…

No person making a solicitation which is subject to this chapter shall solicit any undated or postdated proxy or any proxy which provides that it shall be deemed to be dated as of any date subsequent to the date on which it is signed by the stockholder. Rulemaking Authority 624.3…

(1) Applicability. This section shall apply to any solicitation subject to this chapter by any person or group for the purpose of opposing a solicitation subject to this chapter by any other person or group with respect to the election or removal of directors at any annual or spe…

(1) Revocability of Proxy. State whether or not the person giving the proxy has the power to revoke it. If the right of revocation before the proxy is exercised, is limited or is subject to compliance with any formal procedure, briefly describe such limitation or procedure. (2) D…

(1) Insurer. State the name and address of the insurer. (2) Identity and Background. (a) State the following: 1. Your name and business address. 2. Your present principal occupation or employment and the name, principal business and address of any corporation or other organizatio…

For the purpose of this chapter, the following definitions shall apply (for any terms defined in Section 628.511(2), F.S., these definitions are supplementary): (1) "Agent" shall mean a national bank, state bank, trust company or broker/dealer which maintains an account in its na…

(1) A domestic insurance company may, by written agreement with a custodian, provide for the custody of its securities with that custodian. The securities that are the subject of the agreement may be held by the custodian or its agent or in a clearing corporation. (2) Any such ag…

Rulemaking Authority 624.308 FS. Law Implemented 624.307(1), 624.317, 624.318, 624.424(6), 628.251, 628.461, 628.801 FS. History-New 12-16-70, Formerly 4-26.01, 4-26.001, 4-143.045, Repealed 1-28-13.

(1) Every insurer which is authorized to do business in this state and which is a member of an insurance holding company system shall register with the Office by April 1, except a foreign insurer subject to disclosure requirements and standards adopted by statute or regulation in…

(1) For the purposes of this rule, "internationally active insurance group" means an insurance holding company system that: (a) Includes an insurer registered under Rule 69O-143.046, F.A.C.; and (b) Meets the following criteria: 1. Premiums written in at least three countries; 2.…

The corporate governance annual disclosure filed in accordance with Section 628.8015, F.S., must describe: (1) The insurer's or insurance group's corporate governance framework and structure including consideration of the following: (a) The Board of Directors ("Board") and variou…

(1) Material transactions by registered insurers with their affiliates shall be subject to the following standards: (a) The terms shall be fair and reasonable; (b) Charges or fees for services performed shall be reasonable; (c) Expenses incurred and payment received shall be allo…

Except as otherwise provided in these rules, a person making a report, request, or filing required by this rule chapter may incorporate therein by reference any required then current information already on file with the Director, or any diagram or chart previously filed. In such …

Whether any investment pursuant to Section 625.325(2), F.S., meets the applicable requirements thereof is to be determined before such investment is made, by calculating the applicable investment limitations as though the investment had already been made, taking into account the …

No security which is the subject of any agreement or arrangement regarding acquisition, or which is acquired or to be acquired, in contravention of any statute or rule adopted thereunder, may be voted at any shareholder's meeting, or may be counted for quorum purposes, and any ac…

Rulemaking Authority 624.308, 628.461(13) FS. Law Implemented Chapters 624-628 FS. History-New 6-7-90, Formerly 4-109.001, Amended 5-12-94, Formerly 4-143.055, Repealed 4-27-26.

Rulemaking Authority 624.308, 628.461(13) FS. Law Implemented 624.307(1), 624.307(3), 624.317, 624.321, 624.34, 624.404, 624.413, 624.424(6), 624.501, 624.5091, 628.051, 628.061, 628.461 FS. History-New 6-7-90, Formerly 4-109.002, Amended 5-12-94, 11-7-00, Formerly 4-143.056, Ame…

Rulemaking Authority 624.308, 624.4135, 628.535 FS. Law Implemented 624.307(1), (3), (5), 624.316, 624.317, 624.318, 624.321, 624.324, 624.34, 624.401, 624.404, 624.413, 624.424(6), 624.501(1)(a), 628.051, 628.061, 628.520 FS. History-New 6-7-90, Formerly 4-106.001, Amended 5-12-…

Rulemaking Authority 624.308, 628.535 FS. Law Implemented 624.307(1), (2), (3), (5), 624.316, 624.317, 624.318, 624.321, 624.324, 624.34, 624.401, 624.404, 624.413, 624.424(6), 624.501(1)(a), 628.051, 628.061, 628.520, 628.801 FS. History-New 6-7-90, Formerly 4-106.002, Amended 5…

Rulemaking Authority 624.308 FS. Law Implemented 624.307(1), 624.610 FS. History-New 1-30-91, Formerly 4-108.001, Amended 5-12-94, Formerly 4-144-001, Repealed 9-13-22.

(1) Filing requirements and costs. (a) Insurers making the required filings under the provisions of Section 624.610, F.S., and the rules of this chapter shall submit such filings electronically to the Office at www.floir.com/iportal. 1. Application filings shall be submitted to t…

(1) Credit for reinsurance by a domestic insurer shall be allowed when the reinsurance is ceded to an assuming insurer that is accredited as a reinsurer in this state pursuant to Section 624.610(3)(b), F.S., and the rules of this chapter, as of any date on which statutory financi…

(1) Trusteed Reinsurers. Pursuant to Section 624.610(3)(c)1., F.S., the Office shall allow credit for reinsurance ceded by a domestic insurer to an assuming insurer which, as of any date on which statutory financial statement credit for reinsurance is claimed, and thereafter for …