Florida § 635.031 - Additional limitations.
Full text of Florida Florida Statutes § 635.031 — Additional limitations., with citation guidance and answers to common questions.
§ 635.031. Additional limitations.
In addition to laws otherwise applicable, mortgage guaranty insurers are subject to the following limitations: (1) No such insurer may retain risk as to any one subject of insurance in any amount exceeding 10 percent of its surplus as to policyholders. In determining the amount of risk retained, applicable reinsurance in any assuming insurer authorized to transact insurance in this state or approved by the office shall be deducted from the total direct risk insured. (2) Mortgage guaranty insurance may be written with respect to real estate loans only on those loans which a bank, a savings and loan association, or an insurance company regulated by this state or an agency of the Federal Government is authorized to make.
Frequently Asked Questions About Florida § 635.031
What does Florida Statutes § 635.031 cover?
Section 635.031 ("Additional limitations.") 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 § 635.031?
A common citation format is "Florida Statutes § 635.031" (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 § 635.031 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.