CODING: Words stricken are deletions; words underlined are additions.
HOUSE AMENDMENT
Bill No. HB 2247
Amendment No. 1 (for drafter's use only)
CHAMBER ACTION
Senate House
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5 ORIGINAL STAMP BELOW
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11 The Committee on Insurance offered the following:
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13 Amendment (with title amendment)
14 On page 3, between lines 4 & 5 of the bill
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17 Section 3. Subsection (1) of section 628.729, Florida
18 Statutes, is amended to read:
19 628.729 Member's share of assets on voluntary
20 dissolution.--
21 (1) Upon any voluntary dissolution of a domestic
22 mutual insurance holding company, its assets remaining after
23 discharge of its indebtedness, if any, and expenses of
24 administration, shall be distributed to existing persons who
25 were its members at any time within the 3-year period
26 preceding the date such liquidation was authorized or ordered,
27 or date of last termination of the insurer's certificate of
28 authority, whichever date is earlier; except, if the
29 department has reason to believe that those in charge of the
30 management of the mutual insurance holding company have caused
31 or encouraged the reduction of the number of members of the
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File original & 9 copies 04/19/99
hin0002 06:22 pm 02247-in -824773
HOUSE AMENDMENT
Bill No. HB 2247
Amendment No. 1 (for drafter's use only)
1 insurer in anticipation of liquidation and for the purpose of
2 reducing thereby the number of persons who may be entitled to
3 share in distribution of the insurer's assets, the department
4 may enlarge the 3-year 5-year qualification period by such
5 additional time as the department may deem to be reasonable.
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8 ================ T I T L E A M E N D M E N T ===============
9 And the title is amended as follows:
10 On page 1, line 12
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12 after the semicolon, insert:
13 amending s. 628.729, F.S.; revising the
14 qualification period;
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File original & 9 copies 04/19/99
hin0002 06:22 pm 02247-in -824773