SENATE AMENDMENT
Bill No. HB 1607, 2nd Eng.
Amendment No. ___ Barcode 471932
CHAMBER ACTION
Senate House
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11 Senator Silver moved the following amendment:
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13 Senate Amendment (with title amendment)
14 On page 23, lines 19-22, delete those lines
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16 and insert:
17 Section 15. Present subsections (4), (5), and (6) of
18 section 631.57, Florida Statutes, are redesignated as
19 subsections (5), (6), and (7), respectively, and a new
20 subsection (4) and subsection (8) are added to that
21 subsection, to read:
22 631.57 Powers and duties of the association.--
23 (4) The Florida Residential Property and Casualty
24 Joint Underwriting Association is exempt from all assessments
25 made by the association, except that the Florida Residential
26 Property and Casualty Joint Underwriting Association shall pay
27 all assessments levied by the association to secure funds to
28 pay or defease all interest, principal, redemption premium, if
29 any, related costs of issuance of, and any other payments
30 required under the bond resolution or trust indenture, of bond
31 issues to pay covered claims arising from insurer insolvencies
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SENATE AMENDMENT
Bill No. HB 1607, 2nd Eng.
Amendment No. ___ Barcode 471932
1 caused by, or proximately related to, any hurricane. Any
2 assessment levied under this paragraph shall be levied in the
3 proportion that the Florida Residential Property and Casualty
4 Joint Underwriting Association's net direct written premiums
5 in this state in the classes protected by the account bears to
6 the total of the net direct written premiums received in this
7 state by all insurers for the preceding year for all coverages
8 listed under s. 631.55(2)(c).
9 (8) Notwithstanding any other provision of law, the
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13 And the title is amended as follows:
14 On page 2, line 14, after the semicolon,
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16 insert:
17 providing that the Florida Residential Property
18 and Casualty Joint Underwriting Association is
19 exempt from assessments by the Florida
20 Insurance Guaranty Association, except for
21 assessments to pay or defease costs of certain
22 bond issues;
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