Florida Senate - 2009                        COMMITTEE AMENDMENT
       Bill No. CS for SB 1372
       
       
       
       
       
       
                                Barcode 479728                          
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                   Comm: WD            .                                
                  03/25/2009           .                                
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       The Committee on Criminal Justice (Dean) recommended the
       following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Delete lines 223 - 225
    4  and insert:
    5         an unconditional refund for a period of at least 14 days.
    6  If the prospective owner of an annuity contract is 65 years of
    7  age or older:
    8         1. An unconditional refund of premiums paid for a fixed
    9  annuity contract, including any contract fees or charges, must
   10  be available for period of 30 days; and
   11         2. An unconditional refund for variable or market value
   12  annuity contracts must be available for a period of 30 days. The
   13  unconditional refund shall be equal to the cash surrender value
   14  provided in the annuity contract, plus any fees or charges
   15  deducted from the premiums or imposed under the contract. This
   16  subparagraph does not apply if the prospective owner is an
   17  accredited investor, as defined in Regulation D as adopted by
   18  the United States Securities and Exchange Commission.
   19  
   20  ================= T I T L E  A M E N D M E N T ================
   21         And the title is amended as follows:
   22         Delete line 26
   23  and insert:
   24         fixed annuity contracts and variable or market value
   25         annuity contracts for customers 65 years of age or
   26         older; requiring that the unconditional refund amount
   27         for a variable or market value annuity contract be
   28         equal to the cash surrender value provided in the
   29         contract, plus any fees or charges deducted from the
   30         premiums or imposed under the contract; providing for
   31         applicability of certain provisions; requiring that an