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The Committee on Governmental Operations (Lawson) recommended the

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following amendment:

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     Senate Amendment (with title amendment)

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     Between lines 188 and 189

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insert:

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     Section 5.  Subsection (1) of section 627.901, Florida

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Statutes, is amended to read:

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     627.901  Premium financing by an insurance agent or

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agency.--

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     (1)  A general lines agent may make reasonable service

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charges for financing insurance premiums on policies issued or

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business produced by such an agent or agency, s. 626.9541

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notwithstanding. The service charge shall not exceed $3 per

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installment. The maximum service charge shall not exceed $36 per

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year. In lieu of such service charges, an insurance agent or

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agency, at the sole discretion of such agent or agency, may

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charge a rate of interest not to exceed 18 percent simple

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interest per year on:

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     (a)  The unpaid balance; or

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     (b)  The average unpaid balance as billed over the term of

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the policy and subject to endorsement changes. The interest

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authorized by this paragraph may be billed in equal installments.

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The agent may also impose a service charge for processing, as a

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convenience and accommodation to the insured, a premium

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installment payment to an insurance company or premium finance

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company which the insured could have made directly. The agent may

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not collect more than one service charge on any one payment.

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================ T I T L E  A M E N D M E N T ================

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And the title is amended as follows:

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     On line 23, after the semicolon,

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insert:

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amending s. 627.901, F.S.; authorizing an agent to impose

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a service charge for processing an insured's premium

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installment payment to an insurance company or premium

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finance company;

4/9/2008  1:44:00 PM     6-07125-08