House Bill 0313c1

    Florida House of Representatives - 2000              CS/HB 313

        By the Committee on Insurance and Representative Waters






  1                      A bill to be entitled

  2         An act relating to payment of insurance claims;

  3         amending s. 627.4035, F.S.; authorizing payment

  4         of certain claims by debit card or other form

  5         of electronic transfer under certain

  6         circumstances; providing an effective date.

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

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10         Section 1.  Subsection (3) of section 627.4035, Florida

11  Statutes, is amended to read:

12         627.4035  Cash payment of premiums; claims.--

13         (3)  All payments of claims made in this state under

14  any contract of insurance shall be paid:

15         (a)  In cash consisting of coins, currency, checks,

16  drafts, or money orders and, if by check or draft, shall be in

17  such form as will comply with the standards for cash items

18  adopted by the Federal Reserve System to facilitate the

19  sorting, routing, and mechanized processing of such items; or

20         (b)  If authorized in writing by the recipient or the

21  recipient's representative, by debit card or any other form of

22  electronic transfer. Any fees or costs to be charged against

23  the recipient must be disclosed in writing to the recipient or

24  the recipient's representative at the time of written

25  authorization.

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

27  law.

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