In the event that a captive insurer is insolvent as defined in chapter 631, the department shall liquidate the captive insurer pursuant to the provisions of part I of chapter 631; except that the department shall make no attempt to rehabilitate such insurer.

History.--ss. 664, 809(1st), ch. 82-243; ss. 9, 11, ch. 87-127; ss. 187, 188, ch. 91-108; s. 4, ch. 91-429.

Note.--Former s. 628.617.