CODING: Words stricken are deletions; words underlined are additions.
House Bill 1039




    Florida House of Representatives - 1997                HB 1039

        By Representative Hafner






  1                      A bill to be entitled

  2         An act relating to insurance; creating s.

  3         627.7051, F.S.; requiring certain residential

  4         property insurers to provide for scheduled

  5         premium payments; limiting service charges and

  6         rates of interest; providing application;

  7         providing a definition; providing an effective

  8         date.

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10  Be It Enacted by the Legislature of the State of Florida:

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12         Section 1.  Section 627.7051, Florida Statutes, is

13  created to read:

14         627.7051  Homeowner's policies; premium payment

15  schedule.--

16         (1)(a)  Each insurer which provides personal lines

17  residential property insurance coverage to one or more

18  insureds under a policy shall offer the insured the option to

19  pay the premium on at least a monthly basis.

20         (b)  The insurer's service charge or rate of interest

21  shall not exceed that provided under s. 627.901.

22         (2)  This section also applies to entities established

23  under s. 627.351 which provide personal lines residential

24  property insurance coverage.

25         (3)  For purposes of this section, "personal lines

26  residential property insurance coverage" means coverage

27  provided by homeowners' policies, mobile homeowners' policies,

28  dwelling policies, tenants' policies, condominium owners'

29  policies, and other similar policies.

30         Section 2.  This act shall take effect July 1, 1997.

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CODING: Words stricken are deletions; words underlined are additions.






    Florida House of Representatives - 1997                HB 1039

    123-159-97






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  2                          HOUSE SUMMARY

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      Requires personal lines residential property insurance
  4    insurers to allow insureds to pay premiums at least
      monthly.  Limits service charges and rates of interest.
  5    See bill for details.

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