69O-196.006. Filing Other Acceptable Collateral in Lieu of Net Worth

Effective on Thursday, July 27, 1995

1(1) Other acceptable collateral as permitted by Section 9627.828(1), F.S., 11includes cash, certificates of deposit in a qualified public depository, and securities, such as filed with the Office by insurance companies pursuant to Section 35625.52, F.S.

37(2) Other acceptable collateral as defined herein filed by licensed premium finance companies in lieu of having a statutory net worth of $35,000.00 must maintain a constant value of not less than the prescribed amount of $35,000.00 at all times, and shall not relieve the premium finance company from the requirement to remain solvent.
93Specific Authority 95624.308 FS. 97Law Implemented 99624.307(1), 100627.828, 101627.829 FS. 103History–New 10-20-73, Repromulgated 12-24-74, Formerly 4-18.06, 4-18.006, Amended 7-27-95, Formerly 4-196.006.

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