SENATE AMENDMENT

    Bill No. SB 766

    Amendment No.    

                            CHAMBER ACTION
              Senate                               House
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11  Senator Williams moved the following amendment to amendment

12  (390552):

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14         Senate Amendment (with title amendment) 

15         On page 4, between lines 7 and 8,

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17  insert:

18         Section 4.  Subsection (7) of section 627.7295, Florida

19  Statutes, is amended to read:

20         627.7295  Motor vehicle insurance contracts.--

21         (7)  A policy of private passenger motor vehicle

22  insurance or a binder for such a policy may be initially

23  issued in this state only if the insurer or agent has

24  collected from the insured an amount equal to 2 months'

25  premium.  An insurer, agent, or premium finance company may

26  not directly or indirectly take any action resulting in the

27  insured having paid from the insured's own funds an amount

28  less than the 2 months' premium required by this subsection.

29  This subsection applies without regard to whether the premium

30  is financed by a premium finance company or is paid pursuant

31  to a periodic payment plan of an insurer or an insurance

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                                                  SENATE AMENDMENT

    Bill No. SB 766

    Amendment No.    





 1  agent.  This subsection does not apply if an insured or member

 2  of the insured's family is renewing or replacing a policy or a

 3  binder for such policy written by the same insurer or a member

 4  of the same insurer group.  This subsection does not apply to

 5  an insurer that issues private passenger motor vehicle

 6  coverage primarily to active duty or former military personnel

 7  or their dependents. This subsection does not apply if the

 8  policy is paid pursuant to a payroll deduction plan or an

 9  automatic electronic funds transfer payment plan. This

10  subsection and subsection (4) do not apply if an insured has

11  had a policy in effect for at least 6 months, the insured's

12  agent is terminated by the insurer that issued the policy, and

13  the insured obtains coverage on the policy's renewal date with

14  a new company through the terminated agent.

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16  (Redesignate subsequent sections.)

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

20  And the title is amended as follows:

21         On page 4, line 26, after the semicolon

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23  insert:

24         amending s. 627.7295, F.S.; providing that

25         certain restrictions on issuance of private

26         passenger motor vehicle insurance do not apply

27         if the policy is paid by payroll deduction or

28         by automatic electronic funds transfer;

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