| 1 | Representative Robaina offered the following: |
| 2 |
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| 3 | Amendment (with title amendment) |
| 4 | Between lines 61 and 62, insert: |
| 5 | Section 2. Paragraph (a) of subsection (2) of section |
| 6 | 626.9201, Florida Statutes, is amended to read: |
| 7 | 626.9201 Notice of cancellation or nonrenewal.-- |
| 8 | (2) An insurer issuing a policy providing coverage for |
| 9 | property, casualty, surety, or marine insurance shall give the |
| 10 | named insured written notice of cancellation or termination |
| 11 | other than nonrenewal at least 45 days prior to the effective |
| 12 | date of the cancellation or termination, including in the |
| 13 | written notice the reason or reasons for the cancellation or |
| 14 | termination, except that: |
| 15 | (a) When cancellation is for nonpayment of premium, at |
| 16 | least 10 days' written notice of cancellation accompanied by the |
| 17 | reason therefor shall be given. As used in this paragraph, the |
| 18 | term "nonpayment of premium" means failure of the named insured |
| 19 | to discharge when due any of his or her obligations in |
| 20 | connection with the payment of premiums on a policy or any |
| 21 | installment of such premium, whether the premium is payable |
| 22 | directly to the insurer or its agent or indirectly under any |
| 23 | premium finance plan or extension of credit, or failure to |
| 24 | maintain membership in an organization if such membership is a |
| 25 | condition precedent to insurance coverage. "Nonpayment of |
| 26 | premium" also means the failure of a financial institution to |
| 27 | honor an insurance applicant's check after delivery to a |
| 28 | licensed agent for payment of a premium, even if the agent has |
| 29 | previously delivered or transferred the premium to the insurer. |
| 30 | If a dishonored check represents the initial premium payment, |
| 31 | the contract and all contractual obligations shall be void ab |
| 32 | initio unless the nonpayment is cured within the earlier of 5 |
| 33 | days after actual notice by certified mail is received by the |
| 34 | applicant or 15 days after notice is sent to the applicant by |
| 35 | certified mail or registered mail, and if the contract is void, |
| 36 | any premium received by the insurer from a third party shall be |
| 37 | refunded to that party in full.; and |
| 38 |
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| 39 | ======= T I T L E A M E N D M E N T ======= |
| 40 | Between lines 14 and 15, insert: |
| 41 | amending s. 626.9201, F.S.; providing a definition for the term |
| 42 | "nonpayment of premium"; |