SENATE AMENDMENT

    Bill No. SB 766

    Amendment No.    

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

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13         Senate Amendment (with title amendment) 

14         On page 3, between lines 25 and 26,

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16  insert:

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

18  Statutes, is amended to read:

19         627.7295  Motor vehicle insurance contracts.--

20         (7)  A policy of private passenger motor vehicle

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

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

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

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

25  not directly or indirectly take any action resulting in the

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

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

28  This subsection applies without regard to whether the premium

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

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

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

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    3:24 PM   03/24/98                                s0766c-04c8b




                                                  SENATE AMENDMENT

    Bill No. SB 766

    Amendment No.    





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

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

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

 4  an insurer that issues private passenger motor vehicle

 5  coverage primarily to active duty or former military personnel

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

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

 8  automatic electronic funds transfer payment plan. This

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

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

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

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

13  a new company through the terminated agent.

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15  (Redesignate subsequent sections.)

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

19  And the title is amended as follows:

20         On page 1, line 15, after the semicolon

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22  insert:

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

24         certain restrictions on issuance of private

25         passenger motor vehicle insurance do not apply

26         if the policy is paid by payroll deduction or

27         by automatic electronic funds transfer;

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    3:24 PM   03/24/98                                s0766c-04c8b