| 1 | Representatives Gelber and Sasso offered the following: |
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| 3 | Amendment to Amendment (439287) (with title amendment) |
| 4 | Between lines 2452 and 2453, insert: |
| 5 | Section 22. In addition to any other power granted to the |
| 6 | Financial Services Commission, the Financial Services Commission |
| 7 | shall also require all property insurance contracts to contain a |
| 8 | provision entitling the insured to a refund if the insured is |
| 9 | canceled without good cause. The refund shall be established by |
| 10 | the commission but shall be no less than 50 percent of an annual |
| 11 | premium and no more than 200 percent of an annual premium. This |
| 12 | provision shall not apply if 2 years' notice of cancellation is |
| 13 | given. |
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| 17 | ----------------------------------------------------- |
| 18 | T I T L E A M E N D M E N T |
| 19 | Remove line 2652 and insert: |
| 20 | certain structures; granting additional powers to the Financial |
| 21 | Services Commission regarding provisions of property insurance |
| 22 | contracts; providing effective dates. |