FL S1888

Defines "federal home loan bank" and "insurer-member" in Florida insurance law (s. 631.011) to establish terms for insurers that are members of federal home loan banks established under the Federal Home Loan Bank Act

Exempts federal home loan banks from the automatic stay on exercising rights regarding collateral pledged by an insurer-member beginning 7 days after the filing of a delinquency proceeding petition

Requires federal home loan banks to repurchase outstanding capital stock exceeding an insurer-member's minimum investment requirement when exercising collateral rights during delinquency proceedings, subject to applicable laws and the bank's capital plan

Requires federal home loan banks to provide, within 10 business days of a receiver's request, a process and timeline for releasing excess collateral, returning collateral after full repayment, handling fees and accounts, and possible redemption or repurchase of stock

Prohibits receivers for insurer-members from voiding transfers of money or property made in the ordinary course of business under federal home loan bank security or collateral agreements, unless the transfer was made with intent to hinder, delay, or defraud creditors