Florida Senate - 2019 SENATOR AMENDMENT Bill No. CS for CS for CS for SB 122 Ì128452'Î128452 LEGISLATIVE ACTION Senate . House . . . Floor: NC/2R . 04/23/2019 12:44 PM . ————————————————————————————————————————————————————————————————— ————————————————————————————————————————————————————————————————— Senator Farmer moved the following: 1 Senate Amendment (with title amendment) 2 3 Delete lines 297 - 367 4 and insert: 5 Section 2. Section 627.422, Florida Statutes, is amended to 6 read: 7 627.422 Assignment of policies or post-loss benefits.—A 8 policy may be assignable, or not assignable, as provided by its 9 terms. Any such assignment shall entitle the insurer to deal 10 with the assignee as the owner or pledgee of the policy in 11 accordance with the terms of the assignment, until the insurer 12 has received at its home office written notice of termination of 13 the assignment or pledge or written notice by or on behalf of 14 some other person claiming some interest in the policy in 15 conflict with the assignment. 16 (1) LIFE OR HEALTH INSURANCE POLICIES.—Subject to its terms 17 relating to assignability, any life or health insurance policy 18 under the terms of which the beneficiary may be changed upon the 19 sole request of the policyowner may be assigned either by pledge 20 or transfer of title, by an assignment executed by the 21 policyowner alone and delivered to the insurer, whether or not 22 the pledgee or assignee is the insurer.
Any such assignment23 shall entitle the insurer to deal with the assignee as the owner24 or pledgee of the policy in accordance with the terms of the25 assignment, until the insurer has received at its home office26 written notice of termination of the assignment or pledge or27 written notice by or on behalf of some other person claiming28 some interest in the policy in conflict with the assignment.29 (2) POST-LOSS BENEFITS UNDER CERTAIN PROPERTY INSURANCE 30 POLICIES.—A residential or commercial property insurance policy 31 may not prohibit the assignment of post-loss benefits. 32 33 ================= T I T L E A M E N D M E N T ================ 34 And the title is amended as follows: 35 Delete lines 29 - 40 36 and insert: 37 providing applicability; amending s. 627.422, F.S.; 38 providing that residential or commercial property 39 insurance policies may not prohibit the assignment of 40 post-lost benefits; prohibiting Citizens