Unlike the liquidation portion of Chapter 631, Part I, Florida Statutes, the rehabilitation portion of the law is very general. It provides the Receiver, as the rehabilitator, with great discretion to prepare a plan to assist a company to resolve its difficulties. The Receiver is responsible for taking actions necessary to correct the conditions that necessitated the receivership.
By Statute and Court Order:
What happens if the Rehabilitation process is not successful?
There are times when an insurance company cannot be rehabilitated. When this happens, the Florida Department of Financial Services will petition the Leon County Circuit Court to place the company into Liquidation.
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