Florida Statutes, Rules, and Regulations Common to All Lines
A Florida court orders the liquidation of a domestic insurer. What does the order direct?
Answer and explanation
Answer: B. Section 631.111 provides that an order to liquidate the business of a domestic insurer shall direct the department forthwith to take immediate possession of the property of the insurer, to marshal all the assets, and to liquidate its business. The guaranty association's role under Chapter 631 arises alongside that process rather than replacing the receiver.Source: Fla. Stat. § 631.111 — 631.111, Order to liquidate
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