Florida § 624.4245 - Change in controlling interest of foreign or alien insurer; report required.
Full text of Florida Florida Statutes § 624.4245 — Change in controlling interest of foreign or alien insurer; report required., with citation guidance and answers to common questions.
§ 624.4245. Change in controlling interest of foreign or alien insurer; report required.
In the event of a change in the controlling capital stock or a change of 50 percent or more of the assets of a foreign or alien insurer, such insurer shall report such change in writing to the office within 30 days of the effective date thereof. The report shall contain the name and address of the new owner or owners of the controlling stock or assets, the nature and value of the new assets, and such other relevant information as the commission or office may reasonably require. For the purposes of this section, the term “controlling capital stock” means a sufficient number of shares of the issued and outstanding capital stock of such insurer or person so as to give the owner thereof power to exercise a controlling influence over the management or policies of such insurer or person.
Source: official Florida text · Last verified 2026-08-27
Frequently Asked Questions About Florida § 624.4245
What does Florida Statutes § 624.4245 cover?
Section 624.4245 ("Change in controlling interest of foreign or alien insurer; report required.") 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 § 624.4245?
A common citation format is "Florida Statutes § 624.4245" (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 § 624.4245 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.