| 1 | Representative(s) Grant offered the following: |
| 2 |
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| 3 | Amendment (with title amendment) |
| 4 | Remove line 70, insert: |
| 5 | Section 2. Section 628.801, Florida Statutes, is amended |
| 6 | to read: |
| 7 | 628.801 Insurance holding companies; registration; |
| 8 | regulation.--Every insurer which is authorized to do business in |
| 9 | this state and which is a member of an insurance holding company |
| 10 | shall register with the office and be subject to regulation with |
| 11 | respect to its relationship to such holding company as provided |
| 12 | by rule or statute. The commission shall adopt rules |
| 13 | establishing the information and form required for registration |
| 14 | and the manner in which registered insurers and their affiliates |
| 15 | shall be regulated. The rules shall apply to domestic insurers, |
| 16 | foreign insurers, and commercially domiciled insurers, except a |
| 17 | foreign insurer domiciled in states that are accredited by the |
| 18 | National Association of Insurance Commissioners by December 31, |
| 19 | 1995. Except to the extent of any conflict with this code, the |
| 20 | rules must include all requirements and standards of ss. 4 and 5 |
| 21 | of the Insurance Holding Company System Regulatory Act and the |
| 22 | Insurance Holding Company System Model Regulation of the |
| 23 | National Association of Insurance Commissioners, as the |
| 24 | Regulatory Act and the Model Regulation existed on November 30, |
| 25 | 2001 January 1, 1997, and may include a prohibition on oral |
| 26 | contracts between affiliated entities. Upon request, the office |
| 27 | may waive filing requirements under this section for a domestic |
| 28 | insurer that is the subsidiary of an insurer that is in full |
| 29 | compliance with the insurance holding company registration laws |
| 30 | of its state of domicile, which state is accredited by the |
| 31 | National Association of Insurance Commissioners. |
| 32 | Section 3. This act shall take effect upon becoming law. |
| 33 |
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| 34 | ======= T I T L E A M E N D M E N T ======= |
| 35 | Between lines 5 and 6, insert: |
| 36 | amending s. 628.801, F.S.; updating references to certain acts |
| 37 | and regulations; |