Florida Senate - 2009                        COMMITTEE AMENDMENT
       Bill No. SB 1138
       
       
       
       
       
       
                                Barcode 586152                          
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: FAV            .                                
                  03/10/2009           .                                
                                       .                                
                                       .                                
                                       .                                
       —————————————————————————————————————————————————————————————————




       —————————————————————————————————————————————————————————————————
       The Committee on Banking and Insurance (Fasano) recommended the
       following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Between lines 48 and 49
    4  insert:
    5         Section 2. Subsection (3) of section 624.472, Florida
    6  Statutes, is amended to read:
    7         624.472 Member’s liability.—
    8         (3) Each policy issued by the fund shall contain a
    9  statement of the contingent liability. Both the application for
   10  insurance and the policy shall contain, in boldface contrasting
   11  color and in not less than 10-point type, the following
   12  statements: “This is a fully assessable policy. If In the event
   13  the fund is unable to pay its obligations, policyholders will be
   14  required to contribute on a pro rata earned premium basis the
   15  money necessary to meet any unfilled obligations.” In lieu of
   16  the notice provided for above, a fund with governmental entity
   17  members shall provide the following notice to members other than
   18  governmental entities: “This is a fully assessable policy. In
   19  the event the fund is unable to pay its obligations related to
   20  members which are not governmental entities, the policyholders
   21  which are not governmental entities will be required to
   22  contribute on a pro rata earned premium basis the money
   23  necessary to meet any such unfilled obligations.” A fund with
   24  governmental entity members shall provide the following notice
   25  to governmental entity members: “This is a fully assessable
   26  policy. In the event the fund is unable to pay its obligations
   27  related to governmental entity members, governmental entity
   28  policyholders will be required to contribute on a pro rata
   29  earned premium basis the money necessary to meet any such
   30  unfilled obligations.” If the application is signed by the
   31  applicant, it must be conclusively presumed that there was an
   32  informed, knowing acceptance of the assessment liability that
   33  exists as a result of participation in the fund.
   34  
   35  ================= T I T L E  A M E N D M E N T ================
   36         And the title is amended as follows:
   37         Delete line 9
   38  and insert:
   39  such a fund; amending s. 624.472, F.S.; requiring that an
   40  application for insurance and a policy contain certain
   41  statements printed in boldface type; amending s. 631.904, F.S.;
   42  exempting