CODING: Words stricken are deletions; words underlined are additions.
HOUSE AMENDMENT
hbd-032 Bill No. HB 2021
Amendment No. ___ (for drafter's use only)
CHAMBER ACTION
Senate House
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5 ORIGINAL STAMP BELOW
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11 Representative(s) Lacasa and Atwater offered the following:
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13 Amendment (with title amendment)
14 On page 69, between lines 29 and 30,
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16 insert:
17 Section 4. Subsection (4) of section 627.3511, Florida
18 Statutes, is amended to read:
19 627.3511 Depopulation of Residential Property and
20 Casualty Joint Underwriting Association.--
21 (4) AGENT BONUS.--When the Residential Property and
22 Casualty Joint Underwriting Association enters into a
23 contractual agreement for a take-out plan that provides a
24 bonus to the insurer, the producing agent of record of the
25 association policy is entitled to retain any unearned
26 commission on such policy, and the insurer shall either:
27 (a) Pay to the producing agent of record of the
28 association policy, for the first year, an amount that is the
29 greater of equal to the insurer's usual and customary
30 commission for the type of policy written of a fee equal to
31 the if the term of the association policy was in excess of 6
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File original & 9 copies 03/13/02
hbd0022 08:14 am 02021-0117-545327
HOUSE AMENDMENT
hbd-032 Bill No. HB 2021
Amendment No. ___ (for drafter's use only)
1 months, or one-half of such usual and customary commission if
2 the term of the association policy was 6 months or less; or
3 (b) Offer to allow the producing agent of record of
4 the association policy to continue servicing the policy for a
5 period of not less than 1 year and offer to pay the agent the
6 greater of the insurer's or the association's usual and
7 customary commission for the type of policy written.
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9 If the producing agent is unwilling or unable to accept
10 appointment, the new insurer shall pay the agent in accordance
11 with paragraph (a). The insurer need not take any further
12 action if the offer is rejected. This subsection does not
13 apply to any reciprocal interinsurance exchange, nonprofit
14 federation, or any subsidiary or affiliate of such
15 organization. This subsection does not apply if the agent is
16 also the agent of record on the new coverage. The requirement
17 of this subsection that the producing agent of record is
18 entitled to retain the unearned commission on an association
19 policy does not apply to a policy for which coverage has been
20 provided in the association for 30 days or less or for which a
21 cancellation notice has been issued pursuant to s.
22 627.351(6)(c)11. during the first 30 days of coverage.
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26 And the title is amended as follows:
27 On page 2, line 21, after the semicolon, delete
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29 and insert:
30 amending s. 627.3511, F.S.; revising certain
31 agent commission payment policy servicing
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File original & 9 copies 03/13/02
hbd0022 08:14 am 02021-0117-545327
HOUSE AMENDMENT
hbd-032 Bill No. HB 2021
Amendment No. ___ (for drafter's use only)
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File original & 9 copies 03/13/02
hbd0022 08:14 am 02021-0117-545327