| 1 | Representative(s) Grant offered the following: |
| 2 |
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| 3 | Amendment (with title amendment) |
| 4 | On page 1, line 22 through page 2, line 15 |
| 5 | Remove all of said lines, and insert: |
| 6 | (2) Annually, on or before March 1, the viatical |
| 7 | settlement provider licensee shall file a statement containing |
| 8 | information the commission requires and shall pay to the office |
| 9 | a license fee in the amount of $500. After December 31, 2007, |
| 10 | the annual statement shall include audited financial statements |
| 11 | prepared in accordance with generally accepted accounting |
| 12 | principles by an independent certified public accountant as of |
| 13 | the last day of the preceding calendar year. If the audited |
| 14 | financial statement has not been completed, however, the |
| 15 | licensee shall include in its annual statement an unaudited |
| 16 | financial statement for the preceding calendar year and an |
| 17 | affidavit from an officer of the licensee stating that the audit |
| 18 | has not been completed. In this event, the licensee shall submit |
| 19 | the audited statement on or before June 1. The annual statement, |
| 20 | due on or before March 1 each year, shall also provide the |
| 21 | office with a report of all life expectancy providers who have |
| 22 | provided life expectancies directly or indirectly to the |
| 23 | viatical settlement provider for use in connection with a |
| 24 | viatical settlement contract or a viatical settlement |
| 25 | investment. A viatical settlement provider shall include in all |
| 26 | statements filed with the office all information requested by |
| 27 | the office regarding a related provider trust established by the |
| 28 | viatical settlement provider. The office may require more |
| 29 | frequent reporting. Failure to timely file the annual statement |
| 30 | or the audited financial statement or to timely pay the license |
| 31 | fee is grounds for immediate suspension of the license. The |
| 32 | commission may by |
| 33 |
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| 34 | ========= T I T L E A M E N D M E N T ========= |
| 35 | On page 1, lines 2-3, |
| 36 | Remove all of said lines, and insert: |
| 37 |
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| 38 | An act relating to insurance; amending s. 626.9913, F.S., |
| 39 | relating to viatical settlement providers; specifying a |
| 40 | beginning date for submission of a required annual statement; |
| 41 | specifying required information; specifying the period of |
| 42 | application of an unaudited financial statement; specifying |
| 43 | administrative action for failing to timely file an audited |
| 44 | financial statement; amending ss. 626.99175, 627.836, 651.026, |
| 45 | and |