FL S0356

Expands financial guaranty insurance corporations to include both stock and mutual insurers, with mutual insurers subject to the same organizational and licensing requirements as stock insurers.

Permits not-for-profit insurance company subsidiaries to make dividends or distributions to their mutual insurance holding companies without triggering not-for-profit corporation restrictions under chapter 617.

Allows mutual insurance holding companies to own not-for-profit insurance companies and nonprofit health care plans as subsidiary entities, with the same control requirements as stock insurance subsidiaries.

Authorizes mutual insurance holding companies to merge with, consolidate with, or acquire not-for-profit insurance companies and nonprofit health care plans in addition to existing stock and mutual insurance company acquisitions.

Permits articles of incorporation and bylaws to restrict voting and distribution rights of nonprofit health care plan policyholders if plan assets are not available for distribution, effective January 1, 2014.