Net worth required of applicants
Known as the Legal Expense Insurance Act
The act spans §§ 642–642 (31 sections).
History.--ss. 3, 7, ch. 93-147.
To receive authority to transact legal expense insurance, an applicant applying for a certificate of authority after October 1, 1993, must possess a net worth not less than the greater of:
(1) Ten thousand dollars; or
(2) Ten percent of the applicant’s total liabilities.
Official source: Online Sunshine (Florida Legislature). Reproduced from public-domain Florida statutes; confirm against the official source for the current text. Not legal advice.