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2006 Florida Statutes

Confidentiality of risk-based capital information.
Section 624.40851, Florida Statutes 2006

624.40851  Confidentiality of risk-based capital information.--

(1)  The initial risk-based capital report and any adjusted risk-based capital report; any risk-based capital plan and any revised risk-based capital plan; and working papers and reports of examination or analysis of an insurer performed pursuant to a plan or corrective order, or regulatory action level event, with respect to any domestic insurer or foreign insurer, held by the office, and transcripts of hearings made as required by this section, are confidential and exempt from s. 119.07(1) and s. 24(a), Art. I of the State Constitution.

(2)  Hearings conducted pursuant to s. 624.4085 relating to the office's actions regarding any insurer's risk-based capital plan, revised risk-based capital plan, risk-based capital report, or adjusted risk-based capital report, are exempt from s. 286.011 and s. 24(b), Art. I of the State Constitution, except as otherwise provided in this section. Such hearings shall be recorded by a court reporter. The office shall open such hearings or provide a copy of the transcript of such hearings or information otherwise made confidential and exempt pursuant to this section to a department, agency, or instrumentality of this or another state or of the United States if the office determines the disclosure is necessary or proper for the enforcement of the laws of the United States or of this or another state.

(3)  The exemptions provided by this section shall terminate:

(a)  One year following the conclusion of any risk-based capital plan or revised risk-based capital plan; or

(b)  On the date of entry of an order of seizure, rehabilitation, or liquidation pursuant to chapter 631.

History.--s. 1, ch. 97-293; s. 1, ch. 2002-39; s. 786, ch. 2003-261.