SENATE AMENDMENT

    Bill No. SB 1040

    Amendment No.    

                            CHAMBER ACTION
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11  Senator Bronson moved the following amendment to amendment

12  (440646):

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14         Senate Amendment (with title amendment) 

15         On page 9, between lines 11 and 12,

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17  and insert:

18         Section 2.  Paragraphs (e) and (f) of subsection (1) of

19  section 626.321, Florida Statutes, are amended to read:

20         626.321  Limited licenses.--

21         (1)  The department shall issue to a qualified

22  individual, or a qualified individual or entity under

23  paragraphs (d) and (e), a license as agent authorized to

24  transact a limited class of business in any of the following

25  categories:

26         (e)  Credit life or disability insurance.--License

27  covering only credit life or disability insurance.  The

28  license may be issued only to an individual employed by a life

29  or health insurer as an officer or other salaried or

30  commissioned representative, or to an individual employed by

31  or associated with a lending or financing institution or

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                                                  SENATE AMENDMENT

    Bill No. SB 1040

    Amendment No.    





  1  creditor, and may authorize the sale of such insurance only

  2  with respect to borrowers or debtors of such lending or

  3  financing institution or creditor.  However, only the

  4  individual or entity whose tax identification number is used

  5  in receiving or is credited with receiving the commission from

  6  the sale of such insurance shall be the licensed agent of the

  7  insurer.  No individual while so licensed shall hold a license

  8  as an agent or solicitor as to any other or additional kind or

  9  class of life or health insurance coverage. An entity other

10  than a lending or financial institution defined in s. 626.988

11  holding a limited license under this subsection (1)(e) shall

12  also be authorized to sell credit property insurance.

13         (f)  Credit insurance.--License covering only credit

14  insurance, as such insurance is defined in s. 624.605(1)(i),

15  and no individual so licensed shall, during the same period,

16  hold a license as an agent or solicitor as to any other or

17  additional kind of life or health insurance, with the

18  exception of credit life or disability insurance as defined in

19  paragraph (e).

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21  (Renumber subsequent section.)

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24  ================ T I T L E   A M E N D M E N T ===============

25  And the title is amended as follows:

26         On page 9, line 27, after the semicolon

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28  insert:

29         authorizing certain entities that hold a

30         limited license for credit life or disability

31         to sell credit property insurance; authorizing

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                                                  SENATE AMENDMENT

    Bill No. SB 1040

    Amendment No.    





  1         persons who hold a limited license for credit

  2         insurance to hold certain additional licenses;

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