Senate Bill sb1944

    Florida Senate - 2002                                  SB 1944

    By Senator Sebesta





    20-894A-02

  1                      A bill to be entitled

  2         An act relating to motor vehicles; requiring

  3         motor vehicle dealers, insurers, and financial

  4         services providers to provide a disclosure to

  5         purchasers of new motor vehicles; providing an

  6         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.  Any motor vehicle dealer, insurer, or

11  financial services provider who sells, leases, insures, or

12  finances a new motor vehicle must provide to the purchaser a

13  written disclosure that informs the purchaser that the

14  insurance coverage may be insufficient to cover the

15  replacement cost of the vehicle because of the immediate

16  depreciation of the vehicle upon purchase.

17         Section 2.  This act shall take effect July 1, 2002.

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20                          SENATE SUMMARY

21    Requires any motor vehicle dealer, insurer, or financial
      services provider who sells, leases, insures, or finances
22    a new motor vehicle to provide to the purchaser a written
      disclosure that informs the purchaser that, because of
23    the immediate depreciation of the new motor vehicle, the
      insurance coverage may be insufficient to cover the
24    replacement cost of the vehicle.

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CODING: Words stricken are deletions; words underlined are additions.