Florida § 625.51 - Purpose of deposit.
Full text of Florida Florida Statutes § 625.51 — Purpose of deposit., with citation guidance and answers to common questions.
§ 625.51. Purpose of deposit.
Such deposits shall be held for the following purposes: (1) Deposits made in this state under ss. 624.411 and 624.412 shall be held for the purposes stated in the respective sections. (2)(a) A deposit made in this state by a domestic insurer transacting insurance in another state, province, or country, and as required by the laws of such state, province, or country, shall be held for the protection of the insurer’s policyholders or policyholders and creditors. (b) The deposit shall be certified to another state, province, or country upon request of the insurer. (c) The deposit shall be maintained at the certified par value for any state, province, or country furnishing notification of reliance to the department. (3) Deposits required pursuant to the retaliatory provision, s. 624.5091, shall be held for such purposes as are required by such law and as specified by the order of the department by which the deposit is required.
Source: official Florida text · Last verified 2026-08-27
Frequently Asked Questions About Florida § 625.51
What does Florida Statutes § 625.51 cover?
Section 625.51 ("Purpose of deposit.") 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 § 625.51?
A common citation format is "Florida Statutes § 625.51" (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 § 625.51 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.