628.713 Dividends.—A mutual insurance holding company shall not be authorized to pay dividends or make distributions to mutual insurance holding company members except as may be expressly approved by the office. Neither the adoption nor the implementation of a plan of reorganization shall be deemed to give rise to any obligation by or on behalf of a mutual insurance company to make any distribution or payment to any member or policyholder, or to any other person, fund, or entity of any nature whatsoever, in connection with the ownership, control, benefits, policies, purpose, or nature of the mutual insurance company or otherwise, including, but not limited to, requirements imposed by the conversion and bulk reinsurance provisions of ss. 628.441 and 628.491.
History.—s. 1, ch. 97-216; s. 1300, ch. 2003-261.
Section: Previous 628.701 628.703 628.705 628.707 628.709 628.711 628.713 628.715 628.717 628.719 628.721 628.723 628.725 628.727 628.729 NextLast modified: September 23, 2016