Any person who was an officer or director of an insurer doing business in this state and who served in that capacity within the 2-year period before the date the insurer became insolvent, for any insolvency that occurs on or after July 1, 2002, may not thereafter serve as an officer or director of an insurer authorized in this state or have direct or indirect control over the selection or appointment of an officer or director through contract, trust, or by operation of law, unless the officer or director demonstrates that his or her personal actions or omissions were not a significant contributing cause to the insolvency.
Fla. Stat. § 624.4073
Officers and directors of insolvent insurers
Known as the Florida Nonprofit Multiple-Employer Welfare Arrangement Act
The act spans §§ 624.01 to 624.915 (222 sections).
History.--s. 13, ch. 2002-25; s. 11, ch. 2018-102.
Official source: Online Sunshine (Florida Legislature). Reproduced from public-domain Florida statutes; confirm against the official source for the current text. Not legal advice.