Florida § 628.051 - Application for permit to form insurer; contents; fee.

§ 628.051. Application for permit to form insurer; contents; fee.

(1) No domestic insurer shall be formed unless the persons so proposing have received a permit from the office. (2) Written application for such permit shall be filed with the office. Such application and filing shall include: (a) The name, type, and purpose of insurer. (b) The name, residence address, business background, and qualifications of each person associated or to be associated in the formation or financing of the insurer. Each such person with an ownership interest of 10 percent or more, or who will hold a position as an officer or director, must furnish on forms adopted by the commission and supplied by the office a sworn biographical statement, legible copies of fingerprints, and authority for release of information in regard to the investigation of such person’s background. (c) A full disclosure of the terms of all understandings and agreements existing or proposed among persons so associated relative to the insurer, or the formation or financing thereof, accompanied by a copy of each such agreement or understanding. (d) A full disclosure of the terms of all understandings and agreements existing or proposed for management or exclusive agency contracts. (e) A copy of all proposed articles or certificates of incorporation and proposed bylaws of the proposed insurer. (f) A copy of all articles or certificates of incorporation of involved corporations, if a copy of the same is not already on file in the office. (g) A copy of all syndicate, association, firm, partnership, organization, or other similar agreements, by whatever name called, involved in the formation of the proposed insurer or its financing. (h) If the applicant is a reciprocal insurer, a copy of the power of attorney and of other agreements existing or proposed as affecting investors, subscribers, the attorney in fact, or the applicant. (i) A copy of any security, or of any proposed document evidencing any right or interest, proposed to be offered. (j) Such other pertinent information and documents as reasonably requested by the commission or office. (3) The application shall be accompanied by the filing fee specified in s. 624.501.