CODING: Words stricken are deletions; words underlined are additions.
HOUSE AMENDMENT
Bill No. CS for CS for SB 1270, 2nd Eng.
Amendment No. (for drafter's use only)
CHAMBER ACTION
Senate House
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5 ORIGINAL STAMP BELOW
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11 Representative(s) Albright offered the following:
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13 Amendment (with title amendment)
14 On page 86, between lines 18 and 19 of the bill
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16 insert:
17 Section 72. Subsection 1 of section 627.743, Florida
18 Statutes, is amended and subsection 2 is added to said section
19 to read:
20 627.743 Payment of third-party claims.--
21 (1) Before making any payment on a claim for damage to
22 an automobile for a total loss, regardless of amount, which
23 automobile is owned by a person who is not named as an insured
24 in the policy under which payment is made, the insurer shall
25 first cause a search of the records of the Department of
26 Highway Safety and Motor Vehicles to be made in order to
27 determine whether the damaged vehicle is subject to any liens.
28 If the search discloses the existence of any liens, payment of
29 the claim shall be made jointly to the owner of the damaged
30 vehicle and the first lienholder of record. The insurer shall
31 not be subject to the requirements of this section if the
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File original & 9 copies 04/27/99
htr0002 05:16 pm 01270-0024-861317
HOUSE AMENDMENT
Bill No. CS for CS for SB 1270, 2nd Eng.
Amendment No. (for drafter's use only)
1 owner of the damaged vehicle presents to the insurer a title
2 certificate for such vehicle.
3 (2) When making any payment on a third party claim for
4 damage to an automobile for a partial loss, the insurer shall
5 have printed on the loss estimate, if prepared by the insurer,
6 the following: "Failure to use the insurance proceeds in
7 accordance with the security agreement, if any, could be a
8 violation of s. 812.014, Florida Statutes. If you have any
9 questions, contact your lending institution." However, this
10 subsection does not apply if the insurer does not prepare the
11 loss estimate.
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14 ================ T I T L E A M E N D M E N T ===============
15 And the title is amended as follows:
16 On page 7, line 20
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18 after the semicolon insert:
19 amending s. 627.743, F.S.; requiring an insurer to provide
20 notice to the owner of a damaged vehicle as to the
21 consequences of failure to use the insurance proceeds in
22 accordance with a security agreement; providing an exception;
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File original & 9 copies 04/27/99
htr0002 05:16 pm 01270-0024-861317