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Florida Administrative Code (Last Updated: April 18, 2024) |
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69. Department of Financial Services |
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69O. OIR – Insurance Regulation |
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69O-143. Domestic Insurers |
1(1) During the period of 12 months following their appointment and qualification, securities held by the following persons shall be exempt from Sections 24625.75 25and 26625.76, F.S., 28of the Act:
31(a) Executors or administrators of the estate of a decedent;
41(b) Guardians or committees for an incompetent; and
49(c) Receivers, trustees in bankruptcy, assignees for the benefit of creditors, conservators, liquidating agents, and other similar persons duly authorized by law to administer the estate or assets of other persons.
80(2) After the 12-month period following their appointment or qualification the foregoing persons shall be required to file reports with respect to the securities held by the estates which they administer under Section 113625.75, F.S., 115of the Act, and shall be liable for profits realized from trading in such securities pursuant to Section 133625.76, F.S., 135of the Act, only when the estate being administered is a beneficial owner of more than 10 percent of any class of equity security of an insurer subject to the Act.
166(3) Securities reacquired by or for the account of an insurer and held by it for its account shall be exempt from Sections 189625.75 190and 191625.76, F.S., 193of the Act, during the time they are held by the insurer.
205Specific Authority 207625.82 FS. 209Law Implemented 211625.75, 212625.76 FS. 214History–New 4-23-66, Repromulgated 12-24-74, Formerly 4-19.06, 4-19.006, 4-143.006.
