Senate Bill 0106c1

    Florida Senate - 2000                            CS for SB 106

    By the Committee on Banking and Insurance; and Senator
    Mitchell




    311-282-00

  1                      A bill to be entitled

  2         An act relating to insurance; amending s.

  3         624.426, F.S.; providing an exemption to the

  4         countersignature law for specified insurance

  5         policies; providing an effective date.

  6

  7  Be It Enacted by the Legislature of the State of Florida:

  8

  9         Section 1.  Subsection (5) is added to section 624.426,

10  Florida Statutes, to read:

11         624.426  Exceptions to resident agent and

12  countersignature law.--Section 624.425 does not apply to:

13         (5)  Policies of insurance issued by insurers whose

14  agents represent only one company or group of companies under

15  common ownership and for which a Florida resident agent is the

16  agent of record and the application has been lawfully

17  submitted to the insurer.

18         Section 2.  This act shall take effect upon becoming a

19  law.

20

21          STATEMENT OF SUBSTANTIAL CHANGES CONTAINED IN
                       COMMITTEE SUBSTITUTE FOR
22                              SB 106

23

24  The committee substitute revises the exception from the
    countersignature requirement by requiring that a Florida
25  resident agent be the agent of record and that the application
    be lawfully submitted to the insurer, instead of requiring
26  that a Florida resident agent service the policy.

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