Florida § 624.606 - “Surety insurance” defined.
Full text of Florida Florida Statutes § 624.606 — “Surety insurance” defined., with citation guidance and answers to common questions.
§ 624.606. “Surety insurance” defined.
(1) “Surety insurance” includes: (a) A contract bond, including a bid, payment, or maintenance bond, or a performance bond, which guarantees the execution of a contract other than a contract of indebtedness or other monetary obligation; (b) An indemnity bond for the benefit of a public body, railroad, or charitable organization or a lost security or utility payment bond; (c) Becoming surety on, or guaranteeing the performance of, any lawful contract where the bond is guaranteeing the execution of a contract other than a contract of indebtedness or other monetary obligation; (d) Becoming surety on, or guaranteeing the performance of, bonds and undertakings required or permitted in a judicial proceeding or otherwise allowed by law, including surety bonds accepted by states and municipal authorities in lieu of deposits as security for the performance of insurance contracts; (e) Fidelity insurance as defined in s. 624.6065 for the purposes of the Florida Insurance Code other than part XX of chapter 627; or (f) Residual value insurance as defined in s. 624.6081. (2) “Surety insurance” does not include: (a) Mortgage guaranty insurance, as defined in s. 635.011; (b) Financial guaranty insurance, as defined in s. 627.971; or (c) Any reinsurance contract authorized pursuant to s. 624.610.
Frequently Asked Questions About Florida § 624.606
What does Florida Statutes § 624.606 cover?
Section 624.606 ("“Surety insurance” defined.") is part of the Florida Statutes, the codified statutory law of Florida. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Florida § 624.606?
A common citation format is "Florida Statutes § 624.606" (Florida). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Florida law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Florida official source linked on this page or consult a licensed Florida attorney.
How does Florida § 624.606 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Florida can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Florida.