SENATE AMENDMENT

    Bill No. CS for SB 822

    Amendment No.    

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

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13         Senate Amendment 

14         On page 1, line 25, through page 2, line 3, delete

15  those lines

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17  and insert:

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19  premium security deposit. A premium security deposit may not

20  be considered premium received for purposes of s. 624.509. On

21  the date moneys from a premium security deposit are applied to

22  the payment of premium, those moneys are no longer considered

23  part of the premium deposit and are considered premium

24  received for purposes of s. 624.509. The interest may be a

25  fixed or variable amount or may be expressed as a fixed or

26  variable rate.

27         (3)  Any premium security deposit given to an insurer

28  by an insured constitutes a covered claim for the purposes of

29  chapter 631.

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    3:35 PM   03/23/00                              s0822c1b-12r0a