Florida Senate - 2009                        COMMITTEE AMENDMENT
       Bill No. SB 444
       
       
       
       
       
       
                                Barcode 919152                          
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: FAV            .                                
                  04/14/2009           .                                
                                       .                                
                                       .                                
                                       .                                
       —————————————————————————————————————————————————————————————————




       —————————————————————————————————————————————————————————————————
       The Committee on Banking and Insurance (Bennett) recommended the
       following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Between lines 113 and 114
    4  insert:
    5         Section 1. Paragraph (e) of subsection (8) of section
    6  624.424, Florida Statutes, is amended to read:
    7         624.424 Annual statement and other information.—
    8         (8)
    9         (e) The commission shall adopt rules to implement this
   10  subsection, which rules must be in substantial conformity with
   11  the 1998 Model Rule Requiring Annual Audited Financial Reports
   12  adopted by the National Association of Insurance Commissioners
   13  or subsequent amendments, except where inconsistent with the
   14  requirements of this subsection. Any exception to, waiver of, or
   15  interpretation of accounting requirements of the commission must
   16  be in writing and signed by an authorized representative of the
   17  office. No insurer may raise as a defense in any action, any
   18  exception to, waiver of, or interpretation of accounting
   19  requirements, unless previously issued in writing by an
   20  authorized representative of the office.
   21  
   22  ================= T I T L E  A M E N D M E N T ================
   23         And the title is amended as follows:
   24         Delete line 2
   25  and insert:
   26  An act relating to title insurance; amending s. 624.424, F.S.;
   27  clarifying a provision requiring that the Financial Services
   28  Commission adopt rules; creating s.