HOUSE AMENDMENT

    hbd-08                                     Bill No. CS/HB 1373

    Amendment No. 3 (for drafter's use only)

                            CHAMBER ACTION
              Senate                               House
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  5                                           ORIGINAL STAMP BELOW

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10  ______________________________________________________________

11  Representative(s) Brown offered the following:

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13         Amendment (with directory language and title

14  amendments) 

15         On page 10, between lines 20 & 21, of the bill

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17  insert:

18         (15)  SPECIAL CONSENT INVESTMENT OF EXCESS FUNDS.--

19         (a)  After satisfying the requirements of this part,

20  any funds of a health maintenance organization in excess of

21  its statutorily required reserves and surplus may be invested:

22         1.  Without limitation in any investments otherwise

23  authorized by this part; or

24         2.  In such other investments not specifically

25  authorized by this part provided such investments do not

26  exceed the lesser 5 percent of the health maintenance

27  organization's admitted assets or 25 percent of the amount by

28  which a health maintenance organization's surplus exceeds its

29  statutorily required minimum surplus. A health maintenance

30  organization may exceed the limitations of this subparagraph

31  only with the prior written approval of the department.

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    File original & 9 copies    03/13/02
    hbd0007                     09:40 am         01373-0005-102791




                                                   HOUSE AMENDMENT

    hbd-08                                     Bill No. CS/HB 1373

    Amendment No. 3 (for drafter's use only)





  1         (b)  Nothing in this subsection authorizes a health

  2  maintenance organization to:

  3         1.  Invest any funds in excess of the amount by which

  4  its actual surplus exceeds its statutorily required minimum

  5  surplus; or

  6         2.  Make any investment prohibited by this code Any

  7  investment of the health maintenance organization's funds not

  8  enumerated in this part requires the prior approval of the

  9  department.

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12  == D I R E C T O R Y   L A N G U A G E   A M E N D M E N T ==

13  And the directory language is amended as follows:

14         On page 9, lines 17 and 18,

15  remove:  all of said lines

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17  and insert:

18         Section 8.  Paragraph (a) of subsection (3) and

19  subsection (15) of section 641.35, Florida Statutes, are

20  amended to read:

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23  ================ T I T L E   A M E N D M E N T ===============

24  And the title is amended as follows:

25         On page 1, line 23, after the second semicolon,

26

27  and insert:

28         providing for the investment of funds of a

29         health maintenance organization in excess of

30         certain reserves or surplus under certain

31         circumstances; providing a limitation;

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    File original & 9 copies    03/13/02
    hbd0007                     09:40 am         01373-0005-102791