Online Sunshine Logo
Official Internet Site of the Florida Legislature
June 25, 2022
Text: 'NEW Advanced Legislative Search'
Interpreter Services for the Deaf and Hard of Hearing
Go to MyFlorida House
Go to MyFlorida House
Select Year:  
The Florida Statutes

The 2021 Florida Statutes

Chapter 641
View Entire Chapter
F.S. 641.215
641.215 Conditions precedent to issuance or maintenance of certificate of authority; effect of bankruptcy proceedings.
(1) As a condition precedent to the issuance or maintenance of a certificate of authority, a health maintenance organization insurer must file or have on file with the office:
(a) An acknowledgment that a delinquency proceeding pursuant to part I of chapter 631, or supervision by the department pursuant to ss. 624.80-624.87, constitutes the sole and exclusive method for the liquidation, rehabilitation, reorganization, or conservation of a health maintenance organization.
(b) A waiver of any right to file or be subject to a bankruptcy proceeding.
(2) The commencement of a bankruptcy proceeding either by or against a health maintenance organization shall, by operation of law:
(a) Terminate the health maintenance organization’s certificate of authority.
(b) Vest in the office for the use and benefit of the subscribers of the health maintenance organization the title to any deposits of the insurer held by the department.

If the proceeding is initiated by a party other than the health maintenance organization, the operation of subsection (2) shall be stayed for a period of 60 days following the date of commencement of the proceeding. 113, 188, ch. 91-108; s. 4, ch. 91-429; s. 1559, ch. 2003-261.